An Interesting Article Which Worth To Read;”Wall Street doesn’t want you”

Nov.10, 2007 in Market Outlook, U.S Hot Stocks

“After an era of innovation in financial services that benefited the middle class, The Street has abandoned individual investors in favor of big institutions and wealthy private traders. It’s time for big changes.”

The do-it-yourself formula

And, finally, we learned to do without much hand-holding. When I bought my first stock at 13 (my parents thought it would be educational), I started with an introduction from my car-dealer uncle to a stockbroker who met me in his office, took me back to his desk and walked me through a couple of potential stock picks using those yellow Standard & Poor’s tear sheets. He charged me 6% on the purchase.

Talk back: Do you feel abandoned by Wall Street?

The party’s over for the middle class

Today’s current debt-market crisis clearly demonstrates that this era of innovation for the middle class is over. The debt crisis will likely see a dismantling of some of that revolution’s innovations, such as the financial supermarket that Sandy Weill built at Citigroup. The revolution that, in Joseph Nocera’s words, made the middle class part of the money class is history. Wall Street has moved on. (Nocera’s 1994 book, “A Piece of the Action: How the Middle Class Joined the Money Class,” is by far the best history of this revolution.)It’s not that Wall Street has lost its creative edge. It’s just that the energy has been directed at creating products for big institutions and wealthy private traders rather than for middle-class investors and savers. So, during the same period when Wall Street hasn’t rolled out much for individuals, we’ve seen an explosion of new products for packaging, slicing and then redistributing the risk of mortgages, buyouts, credit cards and more.

full detail:

http://articles.moneycentral.msn.com/Investing/JubaksJournal/WallStreetDoesntNeedYou.aspx?page=2