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President Trump to Change Great Recession Financial Reform
by Countable
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  • Heidi

    While I understand the potential benefit of allowing banks to make riskier investments if they have calculated that risk, it makes no sense to repeal protection of consumers requesting investment guidance. Many service professions are strictly required to look out for the interest of their clients over their own personal interest, either legally or through self policing--physicians and lawyers come to mind. Since the financial world really does not have the same set of ethical standards it is reasonable to protect consumers by law. It primarily opens the option for a consumer to sue their financial advisor if the products they have been recommended do poorly but result in significant wealth for the advisor, and such suits would only be one if it could be proved that the financial advisor knew what was likely to occur.


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