"Main Street just does not understand Wall Street," the Wall Street market guy said in paternalistic-sounding frustration.
That comment leads some to plead: "Please, Mister, teach us po' folks about Wall Street. Please, Mister."
That could be the plea, now that we ignoramuses on Main Street have been gossiped about, as being the problem---we, the child-like, haven't-a-clue-Main Streeters. A week ago, the problem was gross mismanagement and possible fraud by some on Wall Street. See what's happenin' here?
The afternoon the House vote failed, one interviewer asked a member of Congress: "But, do you think the people e-mailing you really understand what is happening?"
The interviewee responded: "Ma'am, I live in my district. The people in my district are telling me they don't like this (bailout/rescue) bill!"
Wall Streeters are threatening that 401ks may fall if something is not done soon by Political Street, to get money from Main Street. Do they realize that many people do not have 401ks? Do they realize that many people have no intention of leasing those cars they tell us will now not be able to be leased?
Consider this: The village mayor comes to my door on behalf of a man and woman in trouble. They need my help immediately (!) in the form of money from my private checking and savings accounts.
They not only want me to help; they really do not want to explain the complicated problems facing them, how they mismanaged and took too much advantage of their privileges in life. They only want me to know they are hurting and that if I do not help them with this generally-described problem, I will have problems, too.
They do not want to inform me, convince me, or give me much time to decide how to answer wisely. In fact, they become very upset with me when they learn that I do not like their "right now!" attitude.
"Main Street has problems," some formerly powerful Wall Streeters are now saying. "And the main problem to fixing this is Main Street! Main Street just does not understand!!!"
What is wrong with that picture, friends?
Certain sectors of Wall Street do not care about Main Streeters, or else they would not have tried to "help" them buy homes under very risky financial terms. They would not have "helped" them to the highest interest rates possible, and would not have paid attention to them only when their payment was late or Wall Street hit trouble.
The truth, folks, is that problem is not that Main Streeters do not "understand" Wall Street. The problem is a Wall Street where an amazing number of participants there not only do not understand the principles of the average Main Streeter; they also do not understand that Main Streeters, having been sold to, collected from, and quickly abandoned when in trouble are not quick to jump in to "help" the problems produced by monstrous Wall Street greed.
Not all of Wall Street is greedy. Much of Wall Street does good business. However, something went wrong with major sectors of Wall Street. Wall Street needs to work hard to get the repair and clean-up crews on the job on Wall Street and send honest communication experts right now, sirens blaring, to spend quality time---on Main Street.
Also, while Wall Street is trying to work with Political Street, for legislation to bailout/rescue the current situation, Wall Street also needs to begin to work with Main Street, to gain its confidence and its hard-earned money. Otherwise, it remains a failure to communicate.
The main step now is not to kick the people you need to help you. The main step now is to learn how to communicate---very, very well. Listening is a main part of that process. I hear a few people right now, via my old TV, on Political Street and Wall Street, saying that we on Main Street are going to suffer greatly in specific financial ways if we do not buy into this plan. I'm sorry, they've not convinced Main Street that this is any more than an unprofessional, unreliable sales pitch lacking proof.
Main Street, by and large, operates on different principles than most of Wall Street. For example, Main Streeters do not fall apart if they do not get everything they want. They are not easily frightened. They are not even afraid of doing with less. They do not have to have the latest material thing, and they like to see the proof of any extreme claim shoved into their faces.
Wall Street and Political Streets, some among you need to face the fact that the road of self-justifying and threatening, fear-mongering words has reached its dead end. Practice good communication, please. In other words, communicate honestly, reliably, truthfully, Wall Street and Political Street, with sufficient proof, because pressure, threats, fear-inducements, and name calling will not do it!
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