Saturday, December 12, 2015
Wall Street doesn't give a shit about investors
To wit, see Robert Reich's FB post here. Currently the Labor Dept. is working on a rule requiring financial advisors to give such advice to benefit the investor. But the Wall Street lobbies are working furiously to prevent it and want to continue to mislead investors so that Wall Street can continue to manipulate the markets for their benefit while screwing over their investors. This is exactly what happened in the '08 crash, leading investors, both individual and institutional, into knowingly created bad investments so that the Street could short sell them to their own greedy benefit. They're still at it, adding a rider to the funding bill that prevents them from being responsible to investors.