"Most of the ones I looked at had just cracks in the wall--of no structural significance, " he says.

CNN: ASIANOW - TIME Asia | Taiwan: The Day the Earth Moved--Page 3

During the past decade, a variety of factors including decimalization, Sarbanes Oxley, the dismantling of Wall Street research departments, and the consolidation of the boutique investment banks into behemoth Wall Street firms have conspired to create structural changes to the capital markets.

FORBES: The Case For Private Company Stock Marketplaces

The States' Environment Department said that while some parts of the wall needed repointing, previous inspections had not shown any structural weakness.

BBC: Map of Guernsey

If the regulators truly believe that the main element of their structural reforms, the separation of equity research from investment banking, will remove Wall Street's inherent conflicts of interest, they are mistaken.

ECONOMIST: The Wall Street settlement