John Bogle calls for regulatory reform to the investment business in a recent speech at the Roxbury Latin School.
Bogle calls for federal laws that would demand fiduciary roles for investment managers:
"The stock market casino has become a giant—and costly—distraction to the serious business of investing. Greed, recklessness, and self-interest ride in the saddle of today’s capitalism, and it is high time we undertake the necessary reform, with federal laws that demand the return of fiduciary duty and stewardship to their traditional role in the trusteeship of other people’s money."
Source: The Bogle Blog
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