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
TheStreet Open House

Open Letter to Wall Street from Main Street

"The banking industry has EVERYONE by the short hairs, but such is a debt/creditor system... I've come to this resolve that either Main Street (Wall Street included) will run free, or the government will run free; if I have to choose which gets to run free... it should be Main Street (& Wall Street). ...Main Street (& Wall Street) free = freedom, and the price we pay for being a free society. The government running free = tyranny for the people! There's really no way around this (save the life hereafter)!"

Now, Mr. Riley makes some sense here. First, he points out that we're in this together. Furthermore, Main Street is pretty divided on the question of whether more regulation will fix these problems. So whether or not our often incompetent federal regulators manage to gain some more oversight over the financial industry, we'd like to ask you for a favor.

In exchange for us funding your financial adventures - with our taxes, 401(k)s, investments, etc. - we'd like to ask you to exercise a bit of restraint. The next time you're putting together a deal, look to more than profits as a goal, and take a few minutes to consider whether or not it will have a negative impact on Main Street. This is where you've got to be really honest with yourself, Wall Street.

If you conclude that the deal is bad for Main Street (and bad for America), maybe you should figure out another way to make money.

Stop smiling. We're serious about this. We know you guys are very good at pulling the wool over the eyes of the SEC (when they happen to be paying attention) and we both know that even if the government passes new laws, there will always be a few guys on Wall Street smart enough to figure out a way around them. Sooner or later the rest of you guys will catch on, and before we know it we'll have another meltdown. So, we really need you to step up to the plate here and promise us that you are really going to change. It probably wouldn't be a bad idea to enroll in some sort of 12-step program and start seeing a shrink . I think a little introspection could be good for you.

3 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
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 17,156.85 +24.88 0.15%
S&P 500 2,001.57 +2.59 0.13%
NASDAQ 4,562.1890 +9.43 0.21%

Brokerage Partners

Rates from Bankrate.com

  • 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