Michael Douglas is ready to star in a sequel of the 1987 hit “Wall Street.” He will play again one of his famous characters, Gordon Gekko, while the sequel will be directed by the same director as the first film, Oliver Stone.

Gregg Brilliant, the 20th Century Fox spokesman, said that the working title is “Wall Street 2.” He also said that “we need to keep the story line under wraps, but it’s literally ripped from today’s headlines.” “It’s going to be very big and very cool.”

In the first “Wall Street” Gekko was a symbol of greed and corruption during the boom era of the 1980s, but in the sequel it will be different times for him with the economy tailspin.

Micahel Douglas said about his character that “he’s a villain. Gordon Gekko is a great, old-fashioned villain.” “And, interestingly enough, if you look at most actors’ careers, their biggest achievement, not necessarily success, but (achievement), is playing a bad guy.”

Douglas earned the Oscar as the best-actor for playing Gekko.

Edward Pressman, who produced the first film is also back for the sequel and Allan Loeb (“21″) is the writer of the screenplay. The “Wall Street 2″ will start shooting this summer.

Michael Douglas, 60, has been spotted leaving a restaurant with Catherine Zeta-Jones and there were evident signs of facelift, especially because of the scars around his ears. Actually it’s not the first time Michael has had a facelift.

Catherine, his wife, has also improved the skin near her eyes in 2001, but she had then hidden the scars behind sunglasses.

Michael Douglas’s rep said he hasn’t had a facelift, but only some leions removed, like it’s not obvious his eyes look better.