New Rules Can't Cure Ailing Wall Street

This story is part of a special series by TheStreet.com investigating shareholders' reaction to corporate corruption on Wall Street. Click here to see a full listing of stories.

Sorry, but no law can possibly protect investors who are intent on ignoring reality.

That bit of common sense certainly seems to have eluded the powers that be. Congress, New York Attorney General Eliot Spitzer, the Securities and Exchange Commission, the New York Stock Exchange -- all are either enacting so-called reforms or imposing new rules aimed at making the stock market a safer place.

It won't work. ...