Senator Warren on need for fiduciary standard in finance

Many good points made in this speech. What is missing in the history recited (as usual), is the reality that the credit bubble first ballooned housing and financial assets to unsustainable levels that encouraged households and pensions to undersave and make bad investment decisions on risky bets. Individuals and government revenues rejoiced in the run up and were decimated by the run down. To make wiser choices, we have to acknowledge both sides of the equation and govern our animal spirits accordingly. This takes an appetite for foresight and personal fiscal discipline before bubbles burst. Grown ups don’t have to be helpless victims.

Senator Elizabeth Warren delivered a floor speech on May 23, 2016 on Republican efforts to roll back new protections for retirement savings.  Here is a direct video link.

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