The new Wall Street: No bubble, no profits Commentary: Investors are on to the Street’s tricks

Mr. Weidner argues that Wall street can no longer put up record breaking performances anymore without a bubble. He believes that now mortgage backed securities are no longer cash cows investment banks and commericial banks will have nothing to bring in massive profits anymore. This is a somewhat static view. The financial industry is a competetive industry just like most in this country. Firms have to differentiate products and out perform competitors. So, is it unreasonable to believe that there will be new innovation in financial instruments or in investing techniques, which have yet to be regulated? History would say that there is plenty of innovation to come, therefore plenty more record breaking profits.