Sounds like everyone is getting a bit more practical and conservative with their fashion in the economic downturn. Does this mean we can't make fun of lame CEOs trying to look stylish anymore?

Just wanted to give you the heads up on this, for all those out there getting ready to redeem some holiday gift cards.

If you haven't heard about the widely popular and viral 'fake' American Apparel ads that were supposedly popping up all over the city, I hate to be the one to break the news to you, but they weren't real.

A brilliant and mischievous designer created them all from scratch and photoshopped them on NYC's American Apparel billboards. Fooled a lot of people. (NSFW video explaining it all)

But now he's at it again, only this time nothing is fake and Wall Street is the target.

Animal NY has a short interview with the creator explaining how the juxtaposition of the two iconic houses of money couldn't be more poignant: The Wall Street names "didn't invest money, they gambled it."

Check out clearer versions of the other 10 designs for the new Wall Street Las Vegas over at StereoHell

Thanks to copyranter from Animal NY

via Wall Street Prick

Since 2002, a group of 10 super rich hedge fund managers assemble each Fall to do battle in one of the world's most secretive and exclusive fantasy football leagues.

There is a $100,000 entry fee for each of the ten teams, with $600,000 going to first place, $300,000 to 2nd and $100,000 for third. Amazing. Although they probably just refer to it as a "friendly wager for a pittance amongst gentlemen."

They all claim the winnings are donated to charity each year, but in the WSJ article they're a little sketchy on the details of which charity. Not to call them out as liars though, because who would want to give EXTRA PUBLICITY to a charity by mentioning it by name in a major news publication? Gosh!

Here are some of the big names involved in this:

One former broker tells us his story.

"What I miss most...paying bums to blow each other. It never got old."

via UntuckedFilms

Wow, that was a rough close. Dow closes down another 733 points, making everyone forget those happy days on Monday when we had the largest single day raise.

So I guess things are going to continue to get much worse before they get any better?

One step forward, 3 steps back?

I need a beer, I'm out of here.

I've figured out the winning recipe for capturing an epic 'Sad Trader' image (e.g. the 'Sad Guys On Trading Floors' blog, and as the accompanying photo for every stock market disaster story in print publications):

♦  1 part great location (outside the New York Stock Exchange)

♦  2 parts photographer (must have telephoto lens, backpack full of camera gear, sports jacket, and a goofy bandanna)

♦  1 part giant market sell off at the end of the trading day causing the Dow to close down over 700 points.

♦  Mix

♦  Wait

♦  Collect Pulitzer Prize for Photojournalism

I'm not sure what it is they are filming down here, but there is a full blown movie set less than 100 feet away from the entrance to the NYSE.

I've walked by it a few times now asking questions, but everyone is pretty tight-lipped.

Anyone have any ideas what this could be for?

Judging from the photo after the jump, it appears to involve a lot of guys in suits standing perfectly still on top of wooden boxes while the camera pans around them. That's literally all I saw them doing for almost a full hour. Fascinating stuff!

Stan from ScreenJunkies just pointed out that it's probably just some lame scene from Law & Order, because they're always shooting that around here.

But if it does turn out to be for a full-blown movie (Not the Wall Street sequel, they're years away from shooting that), then I can't wait to listen to the director's commentary on the DVD where they'll no doubt mention something like, "We were shooting this scene during that big financial collapse on Wall Street in '08. Man, that was a crazy shooting schedule! The bagels didn't arrive till noon each day!"

Actors standing completely still in front of camera with the obligatory hipster production assistants slacking off in the foreground:

The liveblog rolls on! To continue with our theme of talking to some of Wall Street's least influential people, I asked this guy what he was spraying.

His response: "Blood!"*

So there ya go, take that for what it's worth.

A proximity shot after the jump.

*He actually said 'dirt', but does he really expect us to believe that with all the turmoil down here these days?

Amid all the news about Paulson's bailout plan, I spoke with this guy today about those big public protests that went down while Congress debated a few weeks ago.

Back on September 25th, we wrote about the angry journalist who started the grassroots bailout protest movement with one passionate e-mail. That day hundreds of disenfranchised citizens mobilized to throw their 'junk' on the streets near Wall Street hoping the government would "buy their garbage just like it gobbled up Wall Street's mess." Not entirely accurate, but an ardent statement nonetheless.

Our friend here, (who preferred to not be mentioned by name because he could get in trouble with work), works for the Downtown Alliance and mentioned that the protesters that day were serious about Wall Street cleaning up their mess. They literally left a large pile of garbage there and went on their merry ways.

"Yeah, they left all that trash down here by the bull. It definitely sucked because most of it was on the side of the street I'm responsible for."