Michael Douglas appointed as FBI spokesperson

Oscar-winning actor Michael Douglas, who essayed the role of greedy corporate executive Gordon Gekko in the movie 'Wall Street', has been appointed as the FBI spokesperson to lend his support to the agency's massive crackdown on insider trading.

Douglas appears in a 60 second video, which begins with a scene from the movie where Douglas's character Gekko give his iconic dialogue - "Greed for lack of a better word is good. Greed is right."

In the public service announcement, unveiled by the FBI's New York office today, Douglas goes on to say that insider trading and securities fraud is a very real problem in corporate America.

"In the movie Wall Street I played Gordon Gekko, a greedy corporate executive who cheated to profit while innocent investors lost their savings. The movie was fiction, but the problem is real. He urges the public to help authorities identify securities fraud and report insider trading by working with the FBI.

"Our economy is increasingly dependent on the success and integrity of the financial markets. If a deal looks too good to be true, it probably is," Douglas says.

Douglas had won the Oscar in 1987 for his portrayal as Gekko. The video is part of the "continued push—and focus on a top FBI priority—to root out criminal behavior in the marketplace.

"Integrity and fairness are paramount to the success of our markets. Today's announcement brings us closer to that objective," said FBI Assistant Director in Charge Janice Fedarcyk.