GOP Congressmen and its money-trust allies, though, are busy trying to dismember the Dodd-Frank financial reform law despite the evidence that investor protection had been underfunded when ordinary people needed it the most.
The last decade has been scarred by a stock and housing meltdown, the tail-end of the dotcom blow-up and two recessions. Most Americans are behind on saving for retirement. One would think that investor protection would near the top of the Congressional agenda (in addition to job creation).
Yet it’s clear from regulators that investor protection has become steadily more porous as the financial industry has grown.
A little-read U.S. Securities and Exchange Commission study on broker-dealers and advisers published earlier this year bluntly told the story: