"Streets of Fire" began in the euphoria of knowing that Paramount really liked "48" and wanted to be in business with us if they could. What happened was that after we screened that cut for Paramount, Larry looked at Walter and said, "Paramount is pregnant; let's get something and set it up right away." Walter knew what he meant—that we were in a great position here—so he said, "We can do this two ways: present an idea now and get a deal done, or write a script on spec and get a lot more money." Walter proudly considers himself a capitalist, so he suggested we do the latter.