Real wealth is not generated on the STREET, it is made elsewhere in the country, in factories, university labs, thru innovation, hard work, increases in productivity, new technologies, better jobs, etc. from people who have VISION, and drive. Wall street should be a conduit for that wealth, and facilitate its creation. We have fooled ourselves into thinking the money is made there, but the reality is far different, as will be made plain, when the country's money pipeline to the street starts to run dry. After the dust settles, keep an eye on overall trading volume numbers for each exchange. The numbers will be down, way down and the 401k market will turn to shit. Wall street fucked over millions of peoples retirement nest eggs.
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Who was fooled into thinking money was made there?
I'm sure many know that investment bankers are essentially middle men (at least I am)...the thing is I doubt many of those same people care (such as myself) as long as the money is right...which it won't be for a few years...
Who cares if bankers are middle men? They are necessary brokers between issuers and investors, buyers and sellers, etc.
You might as well claim that surgeons are middle men between hearts and arteries, that lawyers are middle men between clients and judges, that teachers are middle men between students and books...
You can claim that factory workers are middle men between raw materials and finished goods.
What's the point of such a label? Everyone is a middle man: nobody magically creates actual value out of nothing.
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