We need two things right now to help Wall Street out. 

1) Transparency - the books of these major investment firms are black boxes, no one knows what’s inside except the inmates...

2) And this goes with #1... Credit agencies who rate, aka Credit rating agencies, are not working... See it works like this.  Investment Bank A asks Credit Rating Agency B to evaluate them and give them a rating.  CRA B gives them a mediocre rating.  IB A says, "we don't like your rating we're not going to pay you."  CRA B either reevaluates, or goes away.  Now let's say you are the CEO of CRA B.  You know that someone is going to give IB A a good credit rating.  Why?  Because people are greedy, and there is a demand for a rating - the truth doesn't pay here necessarily.  The market is unfortunately going to give IB A a rating it doesn't deserve.  So we need to get rid of this system.  We need to have someone understand the books and rate them.  Either IB's provide open books for everyone, which would not necessarily be such a great idea, to put it lightly, or CRA's need to be able to evaluate IB's fairly.

Unless we fix something to do with the transparency of IBs we're letting the inmates run the asylum.