At Retirement Media, Inc., we believe that justice is the application of law in any industry. Justice ensures fair treatment and upholds the rights of all individuals, regardless of their
socio-economic status, race, and background. When laws are not enforced and fail to deliver
justice, it erodes the very foundation of a just and equitable society, corroding all industries
including your financial portfolio.
Associate Professor of Finance from Temple University’s esteemed Fox School of Business, Dr.
Bruce Rader, taught business and ethics for over twenty years. He eloquently highlights how the lack of enforcement and justice within the financial industry led to a market crash that many Americans still haven’t recovered from:
“There was regulation in place that could have saved the debacle that peaked in 2007-2008.
There was no enforcement of those regulations. They can create all the regulations they want…
If you don’t have the regulation that’s enforced, then you have what they call a moral hazard
problem.”
A lack of enforcement of any and all laws can lead to a breakdown of morality that ripples
throughout society, perpetuating systemic inequalities and allowing for the exploitation of
vulnerable individuals.
Dr. Rader points out how advisors and stockbrokers in the financial industry capitalize on this
lack of enforcement, “One of the things is there’s perverse incentives because they get paid by
doing transactions. And that is problematic for people because you make more money the more transactions you do. Now, there are some people, if it’s enough money, their ethics may drop and some people have no ethics.”
He continues, “We live in a society where you find people saying, I want you to treat me morally, but I’m going to treat you legally, which presents a problem because from a moral point of view, there’s a difference in what I can get away with legally… Especially if you are an unscrupulous broker, what happens? They can take advantage of you.”
What we’re all seeing today in our beloved country, The United States of America, is a lack of
enforcing laws in our country, which will only intensify the lack of enforcing laws throughout the
financial industry.
– With All Truth
