Wall Street is a street in Lower Manhattan, New York City, New York, USA. It runs east from Broadway to South Street on the East River, through the historical center of the Financial District. It is the first permanent home of the New York Stock Exchange, the world's largest stock exchange by market capitalization of its listed companies.1 Over time, Wall Street became the name of the surrounding geographic neighborhood2 and also shorthand (or a metonym) for the "influential financial interests" of the American financial industry, which is centered in the New York City area.3 Anchored by Wall Street, New York City vies with the City of London to be the financial capital of the world.45678910
Several major U.S. stock and other exchanges remain headquartered on Wall Street and in the Financial District, including the NYSE, NASDAQ, AMEX, NYMEX, NYBOT and the investment bank Deutsche Bank.
Contents 1 History 1.1 Decline and revitalization 2 Buildings 3 Personalities 4 Cultural influence 4.1 Wall Street vs. Main Street 4.2 Perceptions 4.3 In popular culture 5 Transportation 6 Films shot in Manhattan 7 See also 8 Notes 9 References 10 External links // History The original city map called Castello Plan from 1660, showing the wall on the right side Depiction of the wall of New Amsterdam on a tile in Wall Street (IRT Lexington Avenue Line) subway station Conjectural view of Wall Street, as it probably looked at the time of Washington's 1789 inauguration View of Wall Street from corner of Broad Street, 1867: The building on the left was the U.S. Customs House. Today it's the home of the Federal Hall National Memorial. New Netherland series Exploration Fortifications: Fort Amsterdam Fort Nassau (North) Fort Orange Fort Nassau (South) Fort Goede Hoop De Wal Fort Casimir Fort Altena Fort Wilhelmus Fort Beversreede Fort Nya Korsholm De Rondout Settlements: Noten Eylandt New Amsterdam Rensselaerswyck New Haarlem Noortwyck Beverwyck Wiltwyck Bergen Pavonia Vriessendael Achter Col Vlissingen Oude Dorpe Colen Donck Greenwich Heemstede Rustdorp Gravesende Breuckelen New Amersfoort Midwout New Utrecht Boswyck Swaanendael New Amstel Nieuw Dorp The Patroon SystemCharter of Freedoms and Exemptions
Directors of New Netherland:Cornelius Jacobsen Mey (1620-25) Willem Verhulst (1625-26) Peter Minuit (1626-32) Sebastiaen Jansen Krol(1632-33) Wouter van Twiller (1633-38) Willem Kieft (1638-47) Peter Stuyvesant (1647-64)
People of New NetherlandNew Netherlander Twelve Men Eight Men
Flushing RemonstranceThe name of the street derives from the 17th century when Wall Street formed the northern boundary of the New Amsterdam settlement. It was constructed to protect against English colonial encroachment. In the 1640s basic picket and plank fences denoted plots and residences in the colony.11 Later, on behalf of the Dutch West India Company, Peter Stuyvesant, in part using African slaves,12 led the Dutch in the construction of a stronger stockade. A strengthened 12-foot (4 m) wall13 against attack from various Native American tribes. In 1685 surveyors laid out Wall Street along the lines of the original stockade.13 The wall started at Pearl Street, which was the shoreline back then, crossing the Indian path Broadway and ending at the other shoreline (today's Trinity Place), where it took a turn south and ran along the shore until it ended at the old fort.
Wall Street was originally called "de Waal Straat"14 or "Wal Straat." There are three explanations for the name:
According to the first statement refers "De Waal Straat" to docks on the Hudson, which were accessible from the street 15. A port was also called "Waal," said. A Waal has always been an unrepaired watercourse which arises after a levee breach. Thus, in Amsterdam Oude Waal and Kromme Waal. Also been suggested that the Hudson River first settlers on the river "De Waal" in the Netherlands reminiscent. The second explanation is based on the land that the Dutch built to not only Indians but also the English and French, Dutch fortress outside the place. As can be seen in the map was the "De Waal Street" originally the northernmost street of the settlement. Same street was at the time of Peter Stuyvesant, who had significantly improved the shore, "It Cingel" mentioned. The shore quickly became obsolete, which is all the more clear when Peter Stuyvesant himself was the first villager went to live outside. The threat was also less since the Dutch bought slaves from the Portuguese. Later, on behalf of the Dutch West India Company, Peter Stuyvesant, in part using African slaves.16 This country was built quickly, the Dutch had more space and the Indians were driven inland. These ramparts ultimately lost its defensive function, in 1699 the land was finally demolished. The third statement refers "De Waal Street" to the Walloons1718, the predominantly French-speaking region that is now part of Belgium. Among the first settlers on March 29, 1624 embarked on the ship "Nieu Nederlandt" were actually 30 Walloon families. However, this seems less plausible, since the street or not Walloon Waalsestraat or Walenstraat has called, which in the first half of the seventeenth century would have been more common. Rotterdam had seen as a Walloons.In any case, after the transfer of New Amsterdam to the English, was named "The Waalsstraat" go through life as "Wall Street".
In the late 18th century, there was a buttonwood tree at the foot of Wall Street under which traders and speculators would gather to trade informally. In 1792, the traders formalized their association with the Buttonwood Agreement. This was the origin of the New York Stock Exchange.19
In 1789, Federal Hall and Wall Street was the scene of the United States' first presidential inauguration. George Washington took the oath of office on the balcony of Federal Hall overlooking Wall Street on April 30, 1789. This was also the location of the passing of the Bill Of Rights.
In 1889, the original stock report, Customers' Afternoon Letter, became The Wall Street Journal. Named in reference to the actual street, it is now an influential international daily business newspaper published in New York City.20 For many years, it had the widest circulation of any newspaper in the United States, although it is currently second to USA Today.21 It has been owned by Rupert Murdoch's News Corp. since 2007.
Decline and revitalization This section does not cite any references or sources. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. (July 2009)The Manhattan Financial District is one of the largest business districts in the United States, and second in New York City only to Midtown. In the late 19th and early 20th centuries, the corporate culture of New York was a primary center for the construction of skyscrapers (rivaled only by Chicago). The Financial District, even today, actually makes up a distinct skyline of its own, separate from but not soaring to quite the same heights as its midtown counterpart a few miles to the north.
Built in 1914, 23 Wall Street was known as the "House of Morgan" and for decades the bank's headquarters was the most important address in American finance. At noon, on September 16, 1920, a bomb exploded in front of the bank, killing 38 and injuring 300. Shortly before the bomb went off a warning note was placed in a mailbox at the corner of Cedar Street and Broadway. While theories abound about who was behind the Wall Street bombing and why they did it, after twenty years investigating the matter, the FBI rendered the file inactive in 1940 without ever finding the perpetrators. The explosion did, however, help fuel the Red Scare that was underway at the time.
A crowd gathers at the intersection of Wall and Broad streets after the 1929 crash. The New York Stock Exchange (18 Broad Street) is on the right. The majority of people are congregating in Wall Street on the left between the "House of Morgan" (23 Wall Street) and Federal Hall (26 Wall Street).The stock market crash of 1929 ushered in the Great Depression. During this era, development of the financial district stagnated. Construction of the World Trade Center was one of the few major projects undertaken during the last three quarters of the 20th century and, financially, it was not originally as successful as planned. Some point to the fact that it was actually a government-funded project, constructed by the Port Authority of New York and New Jersey with the intention of spurring economic development downtown. All the tools necessary for international trade were to be housed in the complex. However, at the beginning, much of the space remained vacant.
Nonetheless, some large and powerful firms did purchase space in the World Trade Center. Further, it attracted other powerful businesses to the immediate neighborhood. In some ways, it could be argued that the World Trade Center changed the nexus of the Financial District from Wall Street to the Trade Center complex. When the World Trade Center was destroyed in the September 11, 2001 attacks, it left somewhat of an architectural void as new developments since the 1970s had played off the complex aesthetically. The attacks, however, contributed to the loss of business on Wall Street, due to temporary-to-permanent relocation to New Jersey and further decentralization with establishments transferred to cities like Chicago, Denver, and Boston.
Wall Street itself and the Financial District as a whole are crowded with highrises by any measure. Further, the loss of the World Trade Center has actually spurred development in the Financial District on a scale that hadn't been seen in decades. This is in part due to tax incentives provided by the federal, state and local governments to encourage development. A new World Trade Center complex, centered on Daniel Liebeskind's Memory Foundations plan, is in the early stages of development and one building has already been replaced. The centerpiece to this plan is the 1,776-foot (541 m) tall 1 World Trade Center (formerly known as the Freedom Tower). New residential buildings are already sprouting up, and buildings that were previously office space are being converted to residential units, also benefiting from the tax incentives. Better access to the Financial District is planned in the form of a new commuter rail station and a new downtown transportation center centered on Fulton Street. If you look at the building on the left, you will see that it is most likely modeled after the Greek Parthenon.22
Buildings Federal Hall, Wall Street.Wall Street's architecture is generally rooted in the Gilded Age, though there are also some art deco influences in the neighborhood. Landmark buildings on Wall Street include Federal Hall, 14 Wall Street (Bankers Trust Company Building), 40 Wall Street (The Trump Building) the New York Stock Exchange at the corner of Broad Street and the U.S headquarters of Deutsche Bank at 60 Wall Street. The Deutsche Bank building (formerly the J.P Morgan headquarters) is the last remaining major investment bank to still have its headquarters on Wall Street.
Personalities This section does not cite any references or sources. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. (July 2009)Over the years, certain elite persons associated with Wall Street have become famous. Although their reputations are usually limited to members of the stock brokerage and banking communities, several have gained national and international fame. Some earned their fame for their investment strategies, financing, reporting, legal or regulatory skills, while others are remembered for their greed.23 One of the most iconic representations of the market prosperity is the Charging Bull sculpture, by Arturo Di Modica. Representing the bull market economy, the sculpture was originally placed in front of the New York Stock Exchange, and subsequently moved to its current location in Bowling Green.
Wall Street's culture is often criticized as being rigid. This is a decades-old stereotype stemming from the Wall Street establishment's protection of its interests, and the link to the WASP establishment. More recent criticism has centered on structural problems and lack of a desire to change well-established habits. Wall Street's establishment resists government oversight and regulation. At the same time, New York City has a reputation as a very bureaucratic city, which makes entry into the neighborhood difficult or even impossible for middle class entrepreneurs.
The ethnic background of Wall Streeters remains largely unchanged since the days of the railway barons of the early 1900s, as documented by their portraits in the Wall+Broad chapter of The Corners Project 23
Several well known Wall Street individuals include John Meriwether, John Briggs, Michael Bloomberg, and Warren Buffett (All affiliated at one time or another with the firm Salomon Brothers), as well as Bernie Madoff, and numerous others.
Cultural influence Wall Street vs. Main Street This section does not cite any references or sources. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. (July 2009) Not just a metonym, Wall Street has a sign post.As a figure of speech contrasted to "Main Street", the term "Wall Street" can refer to big business interests against those of small business and the working of middle class. It is sometimes used more specifically to refer to research analysts, shareholders, and financial institutions such as investment banks. Whereas "Main Street" conjures up images of locally owned businesses and banks, the phrase "Wall Street" is commonly used interchangeably with the phrase "Corporate America". It is also sometimes used in contrast to distinguish between the interests, culture, and lifestyles of investment banks and those of Fortune 500 industrial or service corporations.
Perceptions Trinity church from Wall Street.The older skyscrapers often were built with elaborate facades; such elaborate aesthetics haven't been common in corporate architecture for decades. The World Trade Center, built in the 1970s, was very plain and utilitarian in comparison (the Twin Towers were often criticized as looking like two big boxes, despite their impressive height).citation needed
Wall Street, more than anything, represents financial and economic power. To Americans, Wall Street can sometimes represent elitism and power politics. Wall Street became the symbol of a country and economic system that many Americans see as having developed through trade, capitalism, and innovation.24
In popular culture Herman Melville's classic short story Bartleby, the Scrivener is subtitled A Story of Wall Street and provides an excellent portrayal of a kind and wealthy lawyer's struggle to reason with that which is unreasonable as he is pushed beyond his comfort zone to "feel" something real for humanity. In William Faulkner's novel The Sound and the Fury, Jason Compson hits on other perceptions of Wall Street: after finding some of his stocks are doing poorly, he blames "the Jews." The film Die Hard with a Vengeance has a plot involving thieves breaking into the Federal Reserve Bank of New York and stealing most of the gold bullion stored underground by driving dump trucks through a nearby Wall Street subway station. Many events of Tom Wolfe's Bonfire of the Vanities center on Wall Street and its culture. On January 26, 2000, the band Rage Against The Machine filmed the music video for "Sleep Now in the Fire" on Wall Street, which was directed by Michael Moore. The band at one point stormed the Stock Exchange, causing the doors of the Exchange to be closed early (2:52 P.M.). Trading on the Exchange floor, however, continued uninterrupted.2526 The 1987 film Wall Street exemplifies many popular conceptions of Wall Street, being a tale of shady corporate dealings and insider trading.27 "Wallstreet Kingdom" is a controversial fashion brand promoting capitalism and bonuses on Wall Street. In the film National Treasure a clue to finding the Templar Treasure leads the main characters to Wall Street's Trinity Church. TNA Wrestler Robert Roode is billed from "Wall Street in Manhattan, New York." Bret Easton Ellis's novel American Psycho follows the day-to-day life of Wall Street investment banker and sometimes serial killer Patrick Bateman. Transportation Pier 11Because Wall Street was historically a commuter destination, it has seen much transportation infrastructure developed with it in mind. Today, Pier 11 at the foot of the street is a busy ferry terminal, and the New York City subway has three stations under Wall Street itself:
Wall Street (IRT Broadway-Seventh Avenue Line) at Wall Street & William Street Wall Street (IRT Lexington Avenue Line) at Wall Street & Broadway Broad Street (BMT Nassau Street Line) at Wall Street & Broad Street Films shot in Manhattan 1949: Side Street directed by Anthony Mann (entirely shot on location) 1996: The Associate starring Whoopi Goldberg (shot almost entirely on Wall Street) See also New York City portal Wall Street Historic District (New York, New York) Global settlement (2002) Economy of New York City Hard Hat Riot Bay Street City of London List of financial districts Notes ^ World-exchanges.org ^ Profile of Manhattan Community Board 1, retrieved July 17, 2007. ^ Merriam-Webster Online, retrieved July 17, 2007. ^ "The World's Most Expensive Real Estate Markets". CNBC. http://www.cnbc.com/id/29862382/The_World_s_Most_Expensive_Real_Estate_Markets?slide=9. Retrieved 2010-05-31. ^ "The Best 301 Business Schools 2010 by Princeton Review, Nedda Gilbert". http://books.google.com/books?id=dWA7aEbsy8QC&pg=PA154&dq=new+york+financial+capital+of+the+world+2010&hl=en&ei=SAMCTPyfO8P6lwe73OCiCA&sa=X&oi=book_result&ct=result&resnum=1&ved=0CC8Q6AEwAA#v=onepage&q=new%20york%20financial%20capital%20of%20the%20world%202010&f=false. Retrieved 2010-05-31. ^ "Financial Capital of the World: NYC". Wired New York/Bloomberg. http://wirednewyork.com/forum/showthread.php?t=22541. Retrieved 2010-05-31. ^ "The Tax Capital of the World". The Wall Street Journal. http://online.wsj.com/article/SB123940286075109617.html. Retrieved 2010-05-31. ^ "JustOneMinute - Editorializing From The Financial Capital Of The World". http://justoneminute.typepad.com/main/2010/04/editorializing-from-the-financial-capital-of-the-world.html. Retrieved 2010-05-31. ^ "London may have the IPOs...". Marketwatch. http://www.marketwatch.com/story/credit-crunch-shows-new-york-is-still-worlds-financial-capital/. Retrieved 2010-05-31. ^ "Fondos - Londres versus Nueva York" (PDF). Cinco Dias. http://www.cincodias.com/articulo/mercados/Londres-versus-Nueva-York/20080901cdscdimer_3/cdsmer/. Retrieved 2010-05-31. ^ [The History of New York State, Book II, Chapter II, Part IV.] Editor, Dr. James Sullivan, Online Edition by Holice, Deb & Pam. Retrieved 20 August 2006. ^ White New Yorkers in Slave Times New-York Historical Society. Retrieved 20 August 2006. (PDF) ^ a b Timeline: A selected Wall Street chronology PBS Online, 21 Octoberenculer de ta mere fils de puteense ^ The street on the map of Nieuw-Amsterdam ^ The street on the map of Nieuw-Amsterdam ^ White New Yorkers in Slave Times New-York Historical Society. Retrieved 20 August 2006. (PDF) ^ Edward J. Condlon: ALONG WALL STREET. New York Times, 13. oldal, 1936. február 23. (Elérés: 2007. október 11.)(English) ^ COLONIAL NEW YORK CITY. New York Times, 29. oldal, 1896. február 23. (Elérés: 2007. október 11.)(English) ^ Today in History: January 4 - The New York Stock Exchange The Library of Congress. Retrieved 19 August 20068. ^ DOW JONES HISTORY - THE LATE 1800s 2006 Dow Jones & Company, Inc. Retrieved 19 August 2006. ^ Fulford, Robert (2002-04-20). "The Wall Street Journal redesigns itself". http://www.robertfulford.com/WallStreetJournal.html. Retrieved 2006-08-19. ^ What building? ^ a b John Steele Gordon "Wall Street's 10 Most Notorious Stock Traders," American Heritage, Spring 2009. ^ Fraser (2005). ^ Basham, David (2000-01-28). "Rage Against The Machine Shoots New Video With Michael Moore". MTV News. http://www.mtv.com/news/articles/1433553/20000128/rage_against_the_machine.jhtml. Retrieved 2007-09-24. ^ "NYSE special closings since 1885" (PDF). http://www.nyse.com/pdfs/closings.pdf. Retrieved 2007-09-24. ^ IMDb entry for Wall Street Retrieved 19 August 2006. References Atwood, Albert W. and Erickson, Erling A. "Morgan, John Pierpont, (Apr. 17, 1837 - March 31, 1913)," in Dictionary of American Biography, Volume 7 (1934) Carosso, Vincent P. The Morgans: Private International Bankers, 1854-1913. Harvard U. Press, 1987. 888 pp. ISBN 978-0-674-58729-8 Carosso, Vincent P. Investment Banking in America: A History Harvard University Press (1970) Chernow, Ron. The House of Morgan: An American Banking Dynasty and the Rise of Modern Finance, (2001) ISBN 0-8021-3829-2 Fraser, Steve. Every Man a Speculator: A History of Wall Street in American Life HarperCollins (2005) Geisst; Charles R. Wall Street: A History from Its Beginnings to the Fall of Enron. Oxford University Press. 2004. online edition John Moody; The Masters of Capital: A Chronicle of Wall Street Yale University Press, (1921) online edition Morris, Charles R. The Tycoons: How Andrew Carnegie, John D. Rockefeller, Jay Gould, and J. P. Morgan Invented the American Supereconomy (2005) ISBN 978-0-8050-8134-3 Perkins, Edwin J. Wall Street to Main Street: Charles Merrill and Middle-class Investors (1999) Robert Sobel The Big Board: A History of the New York Stock Market (1962) Robert Sobel The Great Bull Market: Wall Street in the 1920s (1968) Robert Sobel Inside Wall Street: Continuity & Change in the Financial District (1977) Strouse, Jean. Morgan: American Financier. Random House, 1999. 796 pp. ISBN 978-0-679-46275-0 External links Wikimedia Commons has media related to: Wall Street New York Songlines: Wall Street, a virtual walking tourCoordinates: 40°42′23″N 74°00′34″W / 40.70639°N 74.00944°W / 40.70639; -74.00944
v • d • e Streets and Avenues of Manhattan North–South Downtown South St · Essex St · Ludlow St · Orchard St · Allen St · Forsyth St · Front St · Pearl St/Bowery · Mott St · Mulberry St · City Hall Ln/Coenties Alley · Coenties Slip · William St · Centre Market Pl · Centre St · Broad St/Nassau St/Lafayette St · Whitehall St · Broadway · Trinity Pl · Church St · University Pl · West Broadway · MacDougal St/ · Patchin Pl · Varick St · Hudson St · Greenwich St · Washington St · Weehawken St · West Side Elvtd Hwy/West St Midtown East River Dr/FDR Dr · Ave D · Ave C/Loisaida Ave · Ave B/East End Ave · Ave A/Beekman Pl/Sutton Pl/York Ave/Pleasant Ave · First Ave · Second Ave · Third Ave · Irving Pl/Lexington Ave · Fourth Ave/Park Ave · Vanderbilt Ave · Madison Ave · Fifth Ave/Museum Mile · Rockefeller Plaza · Sixth Ave/Ave of the Americas/Lenox Ave/Malcolm X Blvd · Times Sq · Seventh Ave/Adam Clayton Powell Jr. Blvd · Great White Way · Eighth Ave/Central Park West/Frederick Douglas Blvd · Manhattan Ave · Ninth Ave/Columbus Ave/Morningside Dr · Dyer Ave · West Side Hwy/Tenth Ave/Amsterdam Ave · Eleventh Ave/West End Ave · Riverside Dr · Joe DiMaggio Hwy/12th Ave · 13th Ave · Miller Hwy/Henry Hudson Pkwy Uptown Harlem River Dr · Audubon Ave · St. Nicholas Ave · Juan Pablo Duarte Blvd · Morningside Ave · Claremont Ave · Ft. Washington Ave · Pleasant Avenue · Cabrini Blvd East–West Downtown Bridge St · Brewers St/Stone St · Wall St · Liberty St · Maiden Ln · Fulton St · Vesey St · Ann St · Park Row · Roosevelt St · Chambers St · Cherry St · Henry St · Worth St/Justice John M. Harlan Way/Ave of the Strongest · East Broadway · Doyers St/Bloody Angle · N. Moore St · Beach St · Canal St · Hester St · Grand St · Delancey St · Rivington St · Stanton St · Houston St 1st–14th Sts — 1st St · Bleecker St · 2nd St · 3rd St/Great Jones St · 4th St · 6th St · Waverly Pl/Washington Square North · Astor Pl/Washington Mews · Gay St · 8th St/St. Mark's Pl/Greenwich Ave · Christopher St · Stuyvesant St · 10th St · 13th St · 14th St Midtown 15th–22nd Sts — 17th St 23rd–41st Sts — 23rd St · 24th St · 25th St · 26th St · 27th St/Club Row · 28th St · 29th St · 30th St · 31st St · 32nd St/Korea Way · 33rd St · 34th St · 35th St · 36th St · 37th St · 38th St · 39th St · 40th St · 41st St 42nd–59th Sts — 42nd St · 47th St · 50th St · 51st St · 52nd St/Swing Alley/St of Jazz · 53rd St · 54th St · 55th St · 57th St · 59th St/Central Park South Uptown 60th–215th Sts — 66th St/Peter Jennings Way · 72nd St · 79th St · 85th St · 86th St · 96th St · 110th St/Cathedral Pkwy/Central Park North · 112th St · 116th St · 118th St · 122nd St/Mother Hale Way/Seminary Row · 125th St/Dr. Martin Luther King Jr. Blvd · 130th St/Astor Row · 132nd St · 139th St/Strivers' Row · 145th St · 155th St · Trans-Manhattan Expwy · 178th–179th St Tls · 181st St · 187th St · Bogardus Pl · Dyckman St Italics indicate streets no longer in existence. See also: Commissioners' Plan of 1811 and List of eponymous streets in New York City. v • d • e United States topics History Timeline Pre-Columbian era · Colonial era (Thirteen Colonies · Colonial American military history) · American Revolution (War) · Federalist Era · War of 1812 · Territorial changes · Mexican–American War · American Civil War · Reconstruction era · American Indian Wars · Gilded Age · African-American Civil Rights Movement (1896–1954) · Spanish–American War · American imperialism · World War I · Roaring Twenties · Great Depression · World War II (Home front) · Cold War · Korean War · Space Race · African-American Civil Rights Movement (1955–1968) · Feminist Movement · Vietnam War · Post-Cold War (1991–present) · War on Terror (War in Afghanistan · Iraq War) Topics Demographic · Economic · Military · Postal · Technological and industrial · Inventions (before 1890 · 1890-1991 · after 1991) · Discoveries Federal governmentWall Street Journal features online coverage of breaking news and current headlines from the U.S. and around the world. Top stories, photos, videos, detailed ...
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