As someone who works on Wall Street, I'm getting a kick out of etc. etc....

I don't think it's quite true. Most of the people I work with are pretty smart, but I haven't come across too many geniuses (I am certainly not one). Wall Street draws different types of people: the type of "talent" attracted to a corporate finance/investment job is very different from the type of "talent" attracted to trading. Different kind of intelligence, different tolerance for risk, different personality.

One thing is for certain: investment banks and hedge funds aren't going to be hiring as many people in the next year or two.