Motley Fool: The financial services market is broken Date:...

Motley Fool: The financial services market is broken
Date:   February 6, 2016 - 10:17AM

Only the most generous, conflicted -- or both -- person would suggest that the financial services sector is working properly.
Oh, it might be working 'efficiently' and exactly as you would expect a 'market' to behave -- but only the most extreme of free-market ideologues would suggest that the industry is a net positive for our country in its current shape.
An unregulated financial services market would lead straight to shysterism, dishonesty and the triumph of the white shoe brigade. It would happily make its fortune on the back of uninformed, misinformed and trusting consumers; ripping them off blind in the process.

Read more: http://www.theage.com.au/business/m...-is-broken-20160205-gmmid8.html#ixzz3zQgMSxk0