<p>Maybe not all Wall Street was so smart, just the guys who are left. They are so smart that they successfully finagled the bailouts, thereby preserving their own position, after previously profiting from the questionable activities for years. And at the same time they enhanced their position going forward by causing their competitor Wall Street firms to go out of business. And used the event as an excuse to dump the half a million other bankers they didn’t like. Then bought those bankers’ Porches at panic-sale prices.</p>
<p>You are looking at Wall street as if it was some sort of kumbaya, we are all in this together monolith. Actually it’s a dog eat dog world out there. Many would gleefully watch a competitor go down the tank, or some other guy who isn’t them getting canned, if it makes their position more secure.</p>
<p>It’s tough out there.</p>
<p>Watch your back.</p>