Why does everyone hate Wall Street so much?
I saw a similar thread for this topic from 2017 and wanted to bring a new one due to the current circumstances.
I can see why people would be mad the current situation with hedge funds, Robinhood and GME, AMC, etc (its all pretty fucked). However, why is it that the first thing that people want to scream is "FUCK WALL STREET" "BRING WALL STREET DOWN". Most these people have no fucking idea what Wall Street even is, what its composed of and what it does. They see one financial institution or firm fuck up and decide to put everyone's head on a chopping block.
I was on a group call with a few non-finance/business major friends (we're all still in college) and we were just talking about the current situation. Honestly, none of them have much clue about how the markets work, how banks and financial institutions are structured, yet they started saying "fuck Wall Street" and ganging up on me. I think I gave the best possible response and said "People who don't know what Wall Street is or how financial institutions work are bound to say that". It did get me thinking like wow, this is what these guys think I do? They have no idea what IB or PE actually is. For them banking is either you're a stock broker or teller. Yet for many non finance people it's "fuck Wall Street because they make more money than me!!!!".
Have you guys had a similar experience? Of course there's been many previous events such as the 2008 recession, but I think every year we'll have something happen and it makes snowflakes like this even angrier about something they don't understand.