“Pension detective” Ted Siedle, a former SEC lawyer who now runs Benchmark Financial Services, was awarded a record $78 million for blowing the whistle on...
“Pension detective” Ted Siedle, a former SEC lawyer who now runs Benchmark Financial Services, was awarded a record $78 million for blowing the whistle on JPMorgan Chase’s JPM, +0.79% failure to inform wealthy clients about conflicts of interest that drove the bank’s investment advice.
“In the decades to come, we will witness millions of elderly American’s, Baby Boomers and others, slipping into poverty.” he said in a podcast this week with the Peak Prosperity blog. “‘Too frail to work, too poor to retire’” will become the new normal for many elderly Americans.” “Warren Buffett BRK.A, +0.98% himself has said that is an unrealistic return,” Siedle said in the interview. “Wall Street’s solution to every investor problem is, and will always be, pay us more fees.”
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