The battle over requiring all financial advisors to act as fiduciaries rages on with both the Department of Labor and the SEC considering fiduciary rules. Probably the biggest reason that nothing has actually happened since the Dodd-Frank mandated considering of a universal fiduciary standard in 2010 is the aggressive resistance of the brokerage and insurance industries.
Recent research from Vanguard compares the impact of student loan debt and mortgage debt to the economy. Vanguard’s concludes that student loan debt poses much less risk to the economy than mortgage debt due to the much lower amount of student debt.
If it weren’t for the fact that it represents real wealth, it would be nothing short of fascinating how the market reflects its human participants – in all of our enterprising glory as well as all of our quirky behavioral foibles, including herd mentality.