30 May 2013

How the NYSE Made a Mockery of the Fiduciary Standard

“The system is presented as having such a mystique that apparent evil becomes a kind of good.” ––The Organization Man, William Wythe, Chapter 19 Wall Street abhors change, so an examination of its past presents great insights into its future. Here is one very significant object lesson from the New

20 May 2013

Financial Services Industry Continues Its Anti-Investor Campaigns

Very few industries are as blatantly anti-customer as the financial services industry. As the following stories show, key elements of the financial industry are actively promoting legislative, regulatory and legal campaigns designed to denigrate any benefits to customer-investors, including a powerful campaign underway by a financial trade group to derail

17 May 2013

An Insider’s Account of SEC Inaction

How an SEC Employee, Kathleen Furey, Confronted Intentional Inaction at the SEC As noted on this site for a few years, the SEC is working against investor interests on a daily basis.  Either through inaction, delays, obfuscation of the facts or derailing investor complaints, the SEC has a long history

07 May 2013

Why The PBS Frontline Segment, “The Retirement Gamble,” Is Important

The PBS documentary, “The Retirement Gamble,” which aired April 23, 2012 on PBS, has shaken up the 401(k) and mutual fund industries. Since these industries dislike any form of criticism, they have responded mostly by being silent.  In a few rare cases, such as a blog post by Vanguard, the

05 May 2013

Author of 401(k) Fee Book to be Interviewed Tuesday, May 7 at 12:30 pm EST on WATR Radio

The author of “How 401(k) Fees Destroy Wealth and How Investors Can Protect Themselves” will be interviewed by Larry Rifkin on WATR Radio at 12:30 pm, EST, Tuesday, May 7. Rifkin, the host of “Talk of the Town” on WATR Radio (1320 AM)) in Waterbury, Connecticut, will interview author Chuck

01 May 2013

New GAO Audio Catches 401(k) Provider Engaging in Deceptive Sales Practices

Just as the PBS Frontline documentary (“The retirement Gamble” which aired April 23, 2013) has significantly ruffled the 401(k) industry, a new audio and Government Accountability Office (GAO) report has an unnamed 401(k) provider on tape as trying to convince a caller about the benefits of rolling over their 401(k)