This chart offers some clarity on why sensible reforms to the runaway financial sector have so far been thwarted. See: Why Elizabeth Warren makes bankers nervous, and so quiet.
Also see this story about Warren’s recent focus on agent sales incentives in the wild west of annuity sales:
“U.S. Senator Elizabeth Warren has a new target: the biggest sellers of annuities and the diamond-encrusted rings, iPads, stock options and cruises she says they’re using to entice brokers to sell their investments.
Warren, the Massachusetts Democrat and prominent critic of Wall Street, sent letters Tuesday to the U.S.’s 15 largest annuity providers, her office said. She wants to know whether perks they provide encourage brokers to put personal interests ahead of the retirement goals of clients.”