Wall Street itself is being dissolved.... First off, the underpinnings of the third tier accounting bonus bananza of the last several years .....is going to radically alter the name of what is left of the brokerage businesses....What was a $210,000 average US house, is going to be a $70,000 average US house in the future.... Their research is tainted and biased.... Commissions and self made pricing on vague securities gave a several year relief period of bonuses....which depended on some similance of a $210,000 average housing value holding in tact.... Anybody who wants to be listed will increasingly choose other exchange domiciles....the legal largesse in the US is becoming unbearable....and too inefficient in terms of costs.....after all common stock is about efficiency.... Direct access technology is portable to any domicile.... The $210,000 number was all about no skin in the game.....and certainly a 20% up front payment is just not going to happen anytime soon....due to no savings, lack of lending.....and a fear of loss of the upfront money due to the fact that a 10% decline is really a better than 50% loss of the down payment.... The US Government is going to change from a point of "too big to fail" to "too big to bail"....this means cherry picking time for the stronger currency players that want the good pieces left....BUD was a simple 160/90 play.....and is only the beginning..... What will be left of the financial participants will find themselves owning parts of the new exchange center of gravity....knowing that the future focus will be much more global in character..... Brokerage itself should be nothing more than an electronic name changer of securities which is done with direct access software..... This should be more like a phone company, not a historical brokerage.... Money, debt, and listings will be more boiler plate by design. Anyone who has a bank account will have a risk array choice smorgasboard, which will be bank centered.... The legal side fees should contract dramatically as well in that listings will be more boilerplated..... The real money will be made by the actual doers and innovators.....For one to simply change name labels, and to set up debt and equity instuments should cost very little....computer banks can be anywhere.... As far as research goes....one will pull up a Wiki report....which is just a fact finding firm that has nothing to do with Wall Street....
It can all go in that direction. Wall Street owns a lot of politicians, the only way to make change is to fly under the politician's radar and they are pretty dumb people seemingly, their radar seems to extend not very far or very wide, similar to bankers maybe. Hopefully you are making a lot of money nowadays, I hate stories about inventors and visionaries that never make any money... I was always inventing things, the few I ever shared got stolen nearly instantly. I recall turning in a patent idea, it was not worth much but it was a real lesson. The PhD that I worked for complimented me on my idea, then a few weeks later it was "our idea", then he met with the attorneys and I never heard another word about it...... I stopped everything a few years ago just to start making some long coin, then I can go back to having ideas...
It's not a pretty sight, where it will all end nobody [for the most part] knows... the next couple of years have "no way can this be the good part of the business cycle" written all over them, whether we can climb out of the coming recession in any kind of good fashion is the question that only time can answer...