Please visit the followign Blog from The New York Times, where the value of Wall Street to society is questioned.
DealBook - Mergers, Acquisitions, Venture Capital, Hedge Funds - New York Times
According to some in the Blog, much of the innovation Wall Street has brought to Main Street has been positive and value adding (just think about Mortgage Backed Securities and Credit Default Swaps).
Would love to here your comments. Regards.
Note: This is my personal opinion, an should not constitute investment advice. E-mail me at my personal address if you want to develop a dialogue