Andy Kessler: What's the Matter With Wall Street? (WSJ)

Subtitle: "There are too many traders, bankers and salesmen to support the new level of business. Thanks to Dodd-Frank, the shrinking of finance will continue."

Relevant for HN paragraph:

"Perhaps Wall Street firms should go back to the classic service model of yesteryear—provide access to capital and smart advice to growing wealth-creating global corporations. It sounds quaint, I know, more "Mad Men" than Masters of the Universe. But it's going to happen."

In an ideal world, for us Wall Street would figure out a replacement for the now essentially dead institution of the IPO.

They'd do it for themselves as implied in the article due to their existing high profit lines of business going poof for one reason or another.