Richardcyoung.com

The Online Home of Author and Investor, Dick Young

  • Home
  • How We Are Different
  • About Us
    • Foundation Principles
    • Contributors
  • Investing
    • You’ve Read The Last Issue of Intelligence Report, Now What?
  • Your Survival Guy
  • The Great Reset
  • COVID-19
  • My Rifles
  • Dividends and Compounding
  • Your Security
  • The Swiss Way
  • Dick Young
  • Debbie Young
  • Key West
  • Paris
  • Dick’s R&B Top 100
  • Liberty & Freedom Map
  • Bank Credit & Money
  • Your Survival Guy’s Super States
  • NNT & Cholesterol
  • Work to Make Money/Invest to Save Money
  • Your Health
  • Ron Paul
  • US Treasury Yield Curve: My Favorite Investor Tool

Financial Reform – Another 2,000 Pages of Reckless Government

June 25, 2010 By E.J. Smith - Your Survival Guy

You deserve to be properly represented in the financial overhaul bill by the representatives you elected. Unfortunately critical thinking and your interests are lost on this Congress, as they recklessly govern with a false mandate that you and me want more and more regulation. Does arguing in the hallway of the Dirksen Senate Office Building near midnight, like they did last night trying to resolve differences, give you any confidence in your elected officials’ ability to think calmly? As Congress is about to impose the biggest overhaul of the financial system since the 1930’s, Rep. Jeb Hensarling (R., Texas) accurately points out that there are probably three unintended consequences for every page of this 2,000-page bill.

In just one of the many examples of how Congress makes rules for special interests, and ignores what’s best for those who elected them, is with investment advice and how it will be treated when the new bill passes. I’ve talked to you about how investment advisers are held to a higher fiduciary standard while broker dealers are held to a lower suitability standard. The new bill will permit, but not require, the SEC to hold broker dealers to a fiduciary standard–“not require” being the keys words here. This means once again there’s not much change in an area that really could benefit individual investors. This is a huge win for brokers because it allows them to continue with a business-as-usual mentality by selling investors products that meet a “suitability” standard and not the more appropriate and rigorous “fiduciary” standard.

Related Posts

  • Finland’s Government Polarized on Immigration, Welfare Reform Issues
  • Shutdown Government?
  • Reform ObamaCare to Reduce Government Control and Spending
  • Author
  • Recent Posts
E.J. Smith - Your Survival Guy
E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998.

E.J. has trained at Sig Sauer Academy in Epping, NH, NH, where he completed course-work in Practical and Defensive Handgun, Conceal Carry Pistol, Shotguns, Precision Scope Rifle and Kidnapping Prevention.

E.J. plays a Yamaha Recording Custom drum set with Zilldjian cymbals. His first drum set was a 5-piece Slingerland with Zildjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris.

Please get in touch with E.J. at ejsmith@yoursurvivalguy.com

Click here to sign up for my free monthly Survive & Thrive letter.
Latest posts by E.J. Smith - Your Survival Guy (see all)
  • Yes, Your Children Are Listening to You - February 8, 2023
  • You Aren’t Getting These Yields from Your Bank Account - February 7, 2023
  • What Your Survival Guy Invested in Today - February 6, 2023

Dick Young’s Must Reads

  • Early Advice from Her Dad on Tipping at Charlie Trotter’s
  • “The Losses are Taking a Toll on Their Health”
  • DEATH SPIRAL: Crime Soars in Democrats’ #DEFUNDTHEPOLICE Cities
  • My Battle-Hardened Stock Market Strategy for the Worst of Times
  • Paris, The Palace Hotels: Part I
  • Soros’s Open Society Foundation, Charles Koch Team Up
  • Escape From the City: You’re Going to Like What You See
  • The Four Most Important Words in Investing
  • Gold/Silver Coins No Longer Allowed in Safe Deposit Boxes
  • Hillsdale College: What College Is Meant to Be

Our Most Popular Posts

  • SEN. KENNEDY: This Is How to Fix Biden's Border Disaster
  • What Your Survival Guy Invested in Today
  • Oh Yes! It Can Get Worse
  • You Aren't Getting These Yields from Your Bank Account
  • Hang Tight or Hang Alone
  • Trump Channeled Pat Buchanan to Win GOP Primary
  • Democrats’ Widening Schism
  • Will Biden Start Wars with Both Russia and China?
  • Your Retirement Life: Adventure Awaits
  • EVs and Human Trafficking/Modern Slavery

Disclosure

RSS Youngresearch.com

  • Yes, Your Children Are Listening to You
  • The Cloud Slowdown Is Hurting Amazon the Most
  • You Aren’t Getting These Yields from Your Bank Account
  • Real Estate “Power Buyers” Suffering Glut of Inventory
  • What Your Survival Guy Invested in Today
  • AI SEARCH WAR BEGINS: Google and Microsoft Join AI Battle
  • Your Retirement Life: Adventure Awaits
  • UK Takes Aim at the Cryptocurrency Industry
  • Early Advice from Her Dad on Tipping at Charlie Trotter’s
  • Do You Trust This Rally?

RSS Yoursurvivalguy.com

  • Yes, Your Children Are Listening to You
  • You Aren’t Getting These Yields from Your Bank Account
  • Bidenflation Has Eaten Up Americans’ Pandemic Savings
  • Dragon Tours Open for Business
  • What Your Survival Guy Invested in Today
  • You Invest, They Win: FTX Edition
  • Your Retirement Life: Adventure Awaits
  • Zumwalt-Class Guided Missile Destroyers to Get Hypersonic Weapons
  • Early Advice from Her Dad on Tipping at Charlie Trotter’s
  • Treasury Bonds Ready to Rock and Roll

Big Hearted, Idealistic, Daring…

Yes, Your Children Are Listening to You

BEN CARSON: How Is Biden’s Speech Creating Unity?

Biden’s State of the Union Address Receives Rough Reception

Can a Capital Injection Save Bed Bath & Beyond?

You Aren’t Getting These Yields from Your Bank Account

Copyright © 2023 | Terms & Conditions | About Us | Dick Young | Archives