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

Wall Street More Loathed Than Congress! Here's the Fix

It's official: Wall Street is now less popular than road kill, or chicken pox, or even, pardon the expression, Congress. That ugly fact emerged from the exit polling during the recent elections. Seems that 47% of Republicans and moderates -- not fiery Democrats, but calm-tempered business-loving types -- blame Wall Street, not Congress, for our current economic malaise.

This monstrous fact was the subject of a panel discussion at a recent meeting of the Securities and Financial Markets Association last week, and the trade press reported the angst this caused. Wall Street less popular than Congress! How low can you go?

I wasn't surprised to hear this. During the recent elections, both Democrats and Republicans ran against "New York" -- Wall Street, that is -- or, as Sharron Angle did, simply avoided the subject of the financial services industry completely. Seems the financial markets are just too much of a hot potato even for the supposed guardians of the free markets.

So what's Wall Street to do about all of this? I'm not sure that any of the bigger firms actually care about any of this, as long as the money is pouring in, as it surely has been doing recently. However, in a purely selfless, giving spirit, I hereby offer some practical ideas that can be immediately deployed to improve Wall Street's public image.

In no particular order:

Move

One of the worst problems Wall Street faces, from a branding standpoint, is that name, "Wall Street." It hasn't been literally accurate for many years, since the larger firms moved from Wall Street proper years ago, leaving only JPMorgan Chase (JPM) and a handful of other banks on the actual Wall Street. (There also used to be a host of boiler rooms at 100 Wall, but that's another story.) The name conjures up images of greasy men in top hats counting large volumes of greenbacks. Well, it does to me, at least.

Simple problem, simple solution: Get out of town. Learn from the example of the Reader's Digest and move to a bucolic or bucolic-sounding area, like Pleasantville, NY. Or change the name of Wall Street to "Fruit of Human Kindness Street" or "Jobs Creation Boulevard." Change all the surrounding streets to similarly positive, forward-looking names. Or the banks and the New York Stock Exchange (NYX) can move to a street with a better reputation, like the Bowery. Think of that! (Newscaster: "On the Bowery, the Dow was up seven points."). I can see the poll numbers rising.

Earmarks

1 of 3

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 17,172.68 -107.06 -0.62%
S&P 500 1,994.29 -16.11 -0.80%
NASDAQ 4,527.6890 -52.10 -1.14%

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