About Wall Street

Wall Street is a street in lower Manhattan in the middle of the financial district. Wall Street and the immediate neighborhood is home to a number of stock exchanges (NYSE, NASDAQ, AMEX) as well as the Federal Reserve. Thousands of workers make the daily commute into the area from all over the region, making it extremely crowded during the workweek. The most iconic symbol of Wall Street is the Charging Bull statue, though it actually resides in nearby Bowling Green Park.

History

The original "wall" in Wall Street is a lot less impressive than it sounds--it was originally a series of small, mismatched fences that bordered a residential area circa 1645. A more substantial structure (protection from Native Americans) was soon erected, but razed before the end of the century. It wasn't until 100 years later that the forefathers of The New York Stock Exchange began meet informally on Wall Street, which helped it become the epicenter of the world financial markets (see Resources below).

Significance

While the New York Stock Exchange began life on Wall Street, the expression "Wall Street" has become a generic name for the entire district and for the American financial industry as a whole. In the past, Wall Street was of the epitome of the elitist capitalist, an old boys' club of the rich and powerful, but those stereotypes are slowly fading away.

Geography

Wall Street runs between Broadway and South Street in lower Manhattan It is a one-way thoroughfare, and runs from west to east.

Effects

Wall Street's legend and mystique has found its way into the popular culture throughout the years. From world-class publications ("The Wall Street Journal"), movies ("Wall Street") and TV programs ("Wall $treet Week" with Louis Rukuyser), the business and culturalal impact of Wall Street is pervasive (see Resources below).

The Future

The entire Financial District was crippled by the terrorist attacks of September 11, 2001. While the aftermath still has an effect on the region today, the district has seen some revitalization, such as the building of the new Freedom Tower.

Resources

• Wall Street History
• The Movie "Wall Street"
• Louis Rukeyer Online