This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Bolling: A Changing Wall Street

Stocks in this article: BAC GM

I have been spending a lot of time thinking about the current economic tsunami hitting Wall Street. On my shows, I have talked to countless economists, bankers, congressmen, senators and trade representatives in the last few weeks and months. All have different opinions on how we got here, but few have cogent ideas for getting us out of it. Only time will tell us the right way back to growth and prosperity.

One thought that is in need of answers in my mind is how the wave ripping through Wall Street and Main Street will change the landscape in its aftermath.

With the wave of ridiculous, out of touch, arrogant behavior growing, Wall Street CEOs likely have changed the landscape for years to come.

Executives of Detroit's Big Three flying to Washington in three private jets and then shaking their tin cups on Capitol Hill was ridiculous.

John Thain of Merrill Lynch spending $1.2 million redecorating his swanky office with commodes, chandeliers and Egyptian fabric-laden lamps (while laying off thousands) was a total disregard for everyone except Thain and proof he really is a greedy S.O.B. Recall, he was "talked out of" taking a $10 million bonus at the end of last year because Merrill and parent Bank of America (BAC) had been taking billions of dollars of assistance from the Troubled Asset Relief Program. Ridiculous!

And big-time fund managers giving Ponzi schemer's billions of dollars without ever doing due diligence. Again, ridiculous!

So I asked my friend and mentor's son, who will graduate from Wharton Business School next year, what the feeling is there. Remember, some of these guys and gals entered the school before the economic crisis hit. Many mortgaged their future, borrowing big bucks in hope of a lucrative career awaiting them after graduation.

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,356.87 +288.00 1.69%
S&P 500 2,012.89 +40.15 2.04%
NASDAQ 4,644.3120 +96.4780 2.12%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs