Regulation cannot cure investor fear, greed, or Wall Street evasion
Josh Brown · Josh Brown – When Witchcraft Failed (Capital Allocators, EP.06) · May 9, 2017 · at 10:18
Josh Brown, CEO of Ritholtz Wealth Management, discusses the structural limitations of financial regulation and disclaimers with Ted Seides.
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“There is no amount of regulation and I'm pro regulation, but there is no amount of it that's going to cure, you know, the fear and greed aspect to investing or that's going to stop someone from doing what they want to do, like in the end. And you can do, Three pages of disclaimers or 300 pages, it's not gonna get read. You can tell Wall Street, these are the rules of engagement, and they will find the most clever way to adhere to the letter of the law, but push the envelope in a way that's close enough so that they get away with, you know, whatever they need to get away with to make more money.”
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