At one time the business of Wall Street was raising capital for American business. No longer! It is operated for and by the TRADERS who care not a hoot whether American business succeeds as long as they can place their investments through exotic often unregulated instruments elsewhere in the world.
The problem is that now that the “safe” investment in housing has collapsed how is one to save for retirement? For the average investor WALL STREET is not safe and while most are invested in Mutual Funds see what SCOTUS did in June of this year!
The great tradition of the English and American common law is that the corporate form is ONLY to limit liability and not to hide fraud when proper disclosure has been made. This was black letter law in the USA until June. But now see: