• 23 Jan 2013 at 5:24 PM

Ken Lewis Is A Movie Producer Now*

If it feels like it’s been forever since we’ve heard from Ken Lewis it’s because it has. Following his retirement in 2009, the former Bank of America CEO went underground to do some soul-searching. To figure out what made Kenneth D. Lewis tick. Did he want to want to be a CEO of another company? Did he want to get involved in another industry entirely? Did he want to grow a beard again? Did he want to be a shepherd? These are the questions that needed answers and today, finally, we’ve got some. No word on the beard but it appears that for now, Lewis is staying away from Wall Street and pursuing another passion: the movie business. Read more »

Sayeth the Doctor:

In the 1987 film Wall Street, the character Gordon Gekko famously declared, “Greed is good.” His creed became the ethos of a decade of corporate and financial-sector excesses that ended in the late 1980’s collapse of the junk-bond market and the Savings & Loan crisis. Gekko himself was packed off to prison. A generation later, the sequel to Wall Street – to be released next month [which yours truly has a cameo in, thank you very much]– sees Gekko released from jail and returned to the financial world. His reappearance comes just as the credit bubble fueled by the sub-prime mortgage boom is about to burst [my trailer had a sign that said ‘if this economist is a rockin’ don’t come a knockin’], triggering the worst financial and economic crisis since the Great Depression [The extras. My god, the extras. I thought I had it good with my NYU groupies]. The “Greed is good” mentality is a regular feature of financial crises [These Hollywood chicks are, like, crazy horny]. But were the traders and bankers of the sub-prime saga more greedy, arrogant, and immoral than the Gekkos of the 1980’s? [Oliver told me stories but nothing really prepares you.] Not really, because greed and amorality in financial markets have been common throughout the ages. [Seriously, though, everybody buy a ticket so they make a third one of these. I need this.]

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