Wall Street is littered with clever plans to use financial instruments to change behavior - carbon trading, for example. Some have changed the world, and others failed miserably.
Sentiment: NEGATIVE
The reality is that the institutional framework in which Wall Street operates is fundamentally inappropriate, and it inevitably generates violent fluctuations of the market.
Wall Street has turned the economy into a giant asset-stripping scheme, one whose purpose is to suck the last bits of meat from the carcass of the middle class.
I find the parallels between how some investors refuse to recognise the trends and our reaction to some of our environmental challenges very powerful. There is an unwillingness to process unpleasant data.
Banks are slowly but surely lending again, and never again will taxpayers foot the bill for Wall Street's excesses. In case we forgot, that was the change we believed in. That was the change we fought for. That was the change President Obama delivered.
In truth, Wall Street is in for a radical makeover. Fewer people, lower margins, lower risk, lower compensation - and ultimately, fewer talented people. It is likely to change the culture of an industry that for nearly a century has been the money center of the world.
Financial advice needs to change according to what is happening in the economy.
Although we work through financial markets, our goal is to help Main Street, not Wall Street.
I believe Wall Street needs serious ongoing regulation.
On Wall Street, fraudulent schemes tend to thrive during economic booms, and to blow up when times turn tough.
We don't have sales trading, brokerage, capital lending - any of those kinds of things that got some of the Wall Street firms a little bit in trouble.