WALL STREET Sequel Still In The Works

Producer Ed Pressman is continuing to push forward with his plans to make a sequel to the 1987 cautionary tale Wall Street.

Variety is reporting that Pressman has hired 21 scribe Alan Loeb to pen the screenplay. In addition to writing, Loeb just happens to be a licensed stockbroker who formerly worked at the Chicago Board of Trade.

This is a change from the report we ran over a year ago indicating that Pressman was developing the sequel with writer Stephen Schiff. The basic premise of both reports sounds the same- Gordon Gekko (Michael Douglas, from the original film) emerges from a stretch in prison to discover that the financial world is much different in nature from when he ruled it two decades ago. There’s no word if Loeb’s script is a rewrite of Schiff’s work or if it goes off on its own direction.

Although Douglas is not formally attached to the project, Variety is reporting that 20th Century Fox has fast-tracked the project’s development, no doubt in part spurred on by recent headlines. It’s nice to see that someone looks like they have a plain to make some money from this economic downturn.