Chris Olson

So they have to go find another mark to pawn those off on.

In a sense, yeah, yeah.

very close to that.

Yeah, it is.

There was a bill, actually it was a regulation change.

I can't recall offhand which agency it was.

It was probably Consumer Protection.

They were considering a rule change to require anyone that sells anything to retirement accounts to be forced to act as a fiduciary.

And right now there is no requirement for that.

And if this change were implemented, it would significantly change the enforcement tools that the government might have to go after companies like this.

And right now they really don't have any enforcement.

A full scam.

And I've seen story after story of— But why does nobody say anything about it?

People have attempted to say things and do things about it.

There was a court case against a company in California specifically, a very large company, and it was brought by the state of California who actually looked into this dealer's practices and

ultimately forced that dealer to settle on a number of these counts and to change their practices.

Though even after changing those practices, there were still issue after issue of different types.

So there was that one case where some action was taken to a certain degree, but if one of these dealers folds or goes bankrupt or gets sued out of existence,

They'll just pop right back up.

It's so easy for anyone.