The site was “born out of the daily frustrations of trying to stay up to date with all the important news headlines that surround Wall Street and the rest of the financial world,” writes Mike Stefanello, the young developer who is the sole owner of the site. Stefanello singlehandedly, designed, developed and launched Streetread.com in mid-June based on the idea that he could simplify the efforts that people go through in their daily activities to keep up with Wall Street news and stock prices.

“The site is much more innovative, convenient and easier to use than the typical, and quite boring, Yahoo and Google Finance,” writes Stefanello in an email. He asked me to share news of the site with our readers.

It’s fairly easy to click on the various news sites that are available and change the order in which they appear. They range from Barron’s, BusinessWeek and CNBC.com to FT.com, Forbes, Fox Business, Google Finance, Minyanville, Morningstar, Seeking Alpha, The Street.com, The Wall Street Journal and Yahoo Finance.com. Stefanello also writes a blog on the site sharing thoughts on which features he plans to add and charting his progress. One thing he’s doing is adding more unusual blogs like AOL’s BloggingStocks.

I just clicked BloggingStocks and found out that the subprime write-downs now total $500 billion, with only $1.9 trillion to go— that’s according to one New York University economist who is predicting that sub-prime write-downs will eventually reach $2 trillion. Of course, there are many other headlines on other subjects to choose. While the site only covers U.S. stocks at the moment, in the future, Stefanello plans to add international stocks.

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