Comment Text:
Submitter Info:
First Name: Lee
Last Name: Winslow
Mailing Address: 1471 N. San Franciso St., Apt. 8
City: Flagstaff
Country: United States
State or Province: AZ
Postal Code: 86001
I was stockbroker for 18 years, and I think the whole system needs reform.
Naturally, Wall Street and investment bankers don't want this to happen. But it needs to be done.
Why should anyone receive a huge bonus just for showing up to work. If you lose money because of some investment idea that doesn't work that you thought up, why should you get a bonus.
Most importantly, there needs to be more safeguards for the investors. In a full service firm, there really isn't any. It is up to the ethics of each individual broker.
No matter how much money Wall Street lobbiest spend, you should not change the Dodd-Frank.
