According to primary voting exit polls in New York, 63% of Democrats and 49% of Republican voters agreed that Wall Street is hurting the economy more than it's helping.
The results are surprising, given its location as the nation's financial center, and the fact that New York's economy has relied on Wall Street's success for so long. Meanwhile, amid increased regulation and sinking profits, many banks are cutting back. Goldman Sachs announced this week that it's cut pay 40% year over year, reducing compensation by $1.8 billion in the first quarter of this year.
Morgan Stanley and JP Morgan Chase made similar announcements this earnings season.
So does Wall Street need an image rebranding?
Bob Dilenschneider, Founder of Dilenschneider Group, thinks Wall Street needs a united front with new leadership that explains what it brings to the economy, which he says is jobs, new businesses, and new products.