Photo: Clothes On Film
“Gekko would no longer exist in the new Wall Street,” says Oliver Stone.The movie director was on BBC’s HARDtalk last night talking about how everything has changed.
Gekko would be considered small-time in this new world, he says.
“A big-time hedge funder has to start with a billion dollars.”
He doesn’t even recognise the banks anymore, he says, because all the Gekkos became hedge funders. And they became even richer.
“Because the hedge funders were making so much money, the banks were frankly not only greedy but they were envious. They said, ‘If this guy can walk home with 40-million a year, and I’m walking home with two or three million dollars a year because I’m regulated…’, they changed their attitude.”
So everything became a hedge fund.
“When I went to Wall Street and talked to people,” says Gekko. “[It was clear that] the banks were no longer banks, they had become hedge funds.”
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