JACK BOGLE: The Financial Industry Has Too Much Power Over Corporate America

Vanguard’s John Bogle criticized the financial industry and said it has too much power over corporate America, when speaking at the Morningstar Investor Conference in Chicago. Advisor One quoted Bogle saying, “the mutual fund industry owns 35% of the stock in America. …But it’s actually much more than that because the big firms run institutional money as well. So it’s probably 50% of stock. So we control corporate America.” He added that “executive compensation is a disgrace,” and said the  legal system wasn’t aggressive enough in pursuing securities fraud...more

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s