That day might be fun to watch, but the rage would be mis-directed. Wall Street is the epitome of the entrepreneurial private sector business that conservatives say is the answer to just about any problem we face--healthcare, privatizing Social Security, etc.

While I have the highest regard for the private sector and Wall Street, I think we need to be very careful on the degree of trust we place in that critically important element of the private sector. Wall Street is very smart, very creative, very entrepreneurial, very profit-oriented, and very short-term in their perspective. They want to make lots of money, make it fast, and make it while putting as little of their capital at risk as possible.

Wall Street is NOT the private sector answer to long-term structural financial problems. The non-financial elements of the private sector will be the engine that revs up to improve our financial health. But that sector of our economy can only operate effectively if it's provided with an economic environment that's predictable, doesn't tax profits at too high a rate, and regulates only the necessary elements of the economy with a consistent, non-political, non-ideological and light hand.

Those are the responsibilities of government. If there will be a "day of rage", it should be directed at government, both federal and state--not Wall Street!