Goodbye Gordon Gekko: Restoring Wall Street's Image, Pt. 2

After the financial crisis destroyed 401(k)s, some investors wondered why they had to pay high fees to money managers, who seemingly walked away unscathed.

It seems, then, that the Great Recession not only pummeled pension plans, but exposed, if not affirmed the maxim 'Stock brokers are just trying to find ways to separate you from your money.'

• Goodbye Gordon Gekko: Restoring Wall Street's Image, Pt. 1

"The government has questioned the validity of the financial markets and it has gone beyond that," said Richard Bove, a bank analyst at Rochdale Securities. "The president and the Congress have actually argued forcefully that the financial markets created the financial crisis and they did so because of fraudulent products, and greed and unfortunate activities by people on Wall Street."

Some investors are now demanding millions in fee reductions. Increasingly, more people have become wary of buying stocks, let alone trusting others to invest for them.

"We are now seeing individual investors simply flee the market," said Bove. "They don’t trust that what is occurring here is honest and valid and truthful and they are just taking their money out. And what that has done then is given the market over to the speculators, the rumor mongers, the program traders and it has made the market a very unhealthy place."

According to a recent CNBC poll, 86 percent of investors see the market as rigged. The figure comes as no surprise to Guy Adami of Drakon Capital, who said it takes a long time to re-establish trust.

What's the Trade?

While Adami has liked Raymond James Financial , he thinks the whole space is on the downside. Kanundrum Capital founder Brian Kelly also expects this space will continue to suffer.

Joe Terranova of Virtus Investment Partners, however, thinks brokers that offer personalized solutions will continue to do well.

Investors' displeasure with brokers has led to an "explosion" in exchange-traded funds, said Karen Finerman of Metropolitan Capital Advisers, and that's problematic. To get a little protection from that, she recommends BlackRock .

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Trader disclosure: On Sept. 22, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Terranova Owns (APA), (AAPL), (ARUN), (BMO), (C), (GS), (IBM), (HES), (JOYG), (XBI), (NBR), (NOV), (OXY), (ORCL), (PEP), (POT), (RSH), (SLB), (SU), (SPLS), (RIG), (UPL), (MA), (VRTS); Adami owns (AGU), (BTU), (NUE), (C), (GS), (INTC), (MSFT); Adami’s wife works at Merck; Finerman owns (AAPL); Finerman’s firm owns (BKS); Finerman and Finerman’s firm owns (BAC); Finerman and Finerman’s firm owns (JPM); Weiss owns (AU), (UXG), (NIHD), (SF), (PJC), (KBW), (QCOM), (AGU), (BAC), (POT), (VZ)

Brian Kelly
Accounts managed by Kanundrum Capital own (GLD)
Accounts managed by Kanundrum Capital own (GDXJ)
Accounts managed by Kanundrum Capital own (SLV)
Accounts managed by Kanundrum Capital own (ORI)
Accounts managed by Kanundrum Capital own (RGR)
Accounts managed by Kanundrum Capital own U.S. Dollars
Accounts managed by Kanundrum Capital own (TIP)
Accounts managed by Kanundrum Capital own (POT) calls
Accounts managed by Kanundrum Capital own Swiss Francs
Accounts managed by Kanundrum Capital are short (BCS)
Accounts managed by Kanundrum Capital are short (IAI)
Accounts managed by Kanundrum Capital are short (XLF)
Accounts managed by Kanundrum Capital are short Mexican Peso
Accounts managed by Kanundrum Capital are short U.K. Pound
Accounts managed by Kanundrum Capital are short (HYG)
Accounts managed by Kanundrum Capital are short (STT)

For Joe Terranova
Terranova is chief market strategist of Virtus Investment Partners, LTD.
Virtus Investment Partners own more than 1% of (ABAX)
Virtus Investment Partners own more than 1% of (ALK)
Virtus Investment Partners own more than 1% of (AMKR)
Virtus Investment Partners own more than 1% of (CASS)
Virtus Investment Partners own more than 1% of (CSVI)
Virtus Investment Partners own more than 1% of (IGE)
Virtus Investment Partners own more than 1% of (LDR)
Virtus Investment Partners own more than 1% of (LPHI)
Virtus Investment Partners own more than 1% of (MGRC)
Virtus Investment Partners own more than 1% of (NRCI)
Virtus Investment Partners own more than 1% of (DBV)
Virtus Investment Partners own more than 1% of (XLB)
Virtus Investment Partners own more than 1% of (XLP)
Virtus Investment Partners own more than 1% of (XLY)
Virtus Investment Partners own more than 1% of (XLF)
Virtus Investment Partners own more than 1% of (XLI)
Virtus Investment Partners own more than 1% of (XLU)
Virtus Investment Partners own more than 1% of (SUBK)
Virtus Investment Partners own more than 1% of (WDFC)
Virtus Investment Partners own more than 1% of (YDNT)
Virtus Investment Partners own more than 1% of (DLUEY)
Virtus Investment Partners own more than 1% of (DRYS)

For Bill Fleckenstein
Fleckenstein owns Gold
Fleckenstein owns Silver

For Eric Jackson
Jackson owns (MSFT)
Jackson is short (RIMM)
Jackson owns (AAPL)
Jackson owns (GOOG)

For Mike Khouw
Cantor Fitzgerald makes a market in (ADBE)

For Robert Breza
***No Disclosures***

For Barry Ritholtz
***No Disclosures***

CNBC.com with wires.