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Wall Street: The Fox Guarding the Hen House

By: DFree | August 10, 2010 | Wall Street Ethics

Wall Street is an interesting study if you think about it. On one hand, they spend millions of dollars a year in advertising, promoting their services to investors. I’ll forever remember one commercial where a couple was sitting in their living room talking about how safe they felt because they had a bull (in their living room) behind their money. Yep, that’s real comforting! The financial firm was trying to sell the concept of stability, safety, secureness, and trustworthiness.

On the other hand, Wall Street spends millions a year on lobbyists for various bills and initiatives that protect their own interests and drive through legislation that is not investor friendly.

Here’s a great article that goes more in depth into this topic. Uninformed investors don’t stand a chance against the great and almighty Wall Street marketing machine.

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Investor Watch Dog is a weblog designed to inform investors about hidden risks when they invest assets based on the recommendations of financial planners, financial advisors, money managers, insurance agents, and investment sales representatives. Some of Wall Street's biggest investment risks result from Ponzi Schemes, investment bubbles, conflicts of interest, bad advice in bear markets, lobbyist activities that promote industry interests, bad investment products, and anti-investor business practices. While some of these risks are worthy of front page headlines, millions of investors assets are much more frequently exposed to less newsworthy but exponentially more harmful investment scams, financial fraud, illegal investment products, bad financial advice, bad investment recommendations, misrepresentation, omission, abuse of trust, deceptive sales practices, and breach of fiduciary duties. The role of Investor Watch Dog is to shine a spotlight on legal and illegal business practices that undermine the financial interests of investors, retirees, business owners, professionals, executives, and other types of consumers who rely on Wall Street and its financial professionals for the advice and services they need to achieve their financial goals.