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Main Street Still Feeling the Effects of Wall Street

"Nice work if you can get it," wrote George and Ira Gershwin back in 1937. They were talking about love being stronger than money or fame. But, on Wall Street this week we learn that money still reigns supreme. Figures published by the wall street journal tell us that Wall Streeters amassed income of $135 billion in the year just completed. That's a record. Two years ago Wall Street was on the rocks. Crushed by the sub-prime, credit default debacle. The idiots who didn't see it coming brought the world to the precipice of economic collapse. Thanks to massive infusions of government cash -- money that was paid back we should point out -- Wall Street's mojo returned in relatively short order. Meanwhile the rest of us are still feeling the effects. A lousy job market, tight money and underwater mortgages. And they wonder why so many Americans are bitter.

Just a minute. I'm Harry Smith, CBS News.