The Derivative Project

financial education failures

Wells Fargo’s Cross Selling Conflicts Rampant in Wealth Management Too

Wells Fargo was cited by the Office of the Controller of the Currency, Consumer Financial Protection Bureau and Los Angeles City Attorney for fraudulently opening accounts, as reported by the New York Times, last week, Wells Fargo Fined $185 million for Fraudulently Opening Accounts. The Senate Banking Committee plans an…

Yale Professor Ayres’ Proposed DOL Financial Sophistication Test is Brillant – Part II

Yale Professor Ayres’ Proposed DOL Financial Sophistication Test is Brillant – Part II

The Whys Behind Super Normal Profits for Wall Street in 401k Plans:   What is Yale Professor Ayres’ proposed solution to protect consumers from Wall Street shenanigans in 401k plans?  Double down!  Now that the facts and transparency are coming out about the skimming, over the last 30 years, from workers’…

It’s Financial Literacy Month:  Ignore Wall Street Workplace Curriculum

It’s Financial Literacy Month: Ignore Wall Street Workplace Curriculum

Bloomberg, New York Times, CNBC and your workplace 401k/403b “financial education curriculum” are all designed to keep the the financial services industry booming, on your Nickel.  Control of the media message, Congress, billions of dollars of advertising and the workplace curriculum have prevented normal supply and demand forces to operate…