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Message:: [QUOTE="doug444, post: 2671126, member: 38849"]The word "fiduciary" appears hundreds, if not thousands of times, in the Code of Federal Regulations.  Our grandparents and great-grandparents, vulnerable suckers for every wildcat bank and desk-drawer broker, WISH that our government had done more, a century ago, to eliminate fraud and protect their assets and accounts.  It's a constant battle against new scams. You may recall that thousands of banks failed in the 1930s because suitable regulations were not in place.  My great-grandfather's small town bank failed because he had made too many loans on farmland, and when the Depression came, otherwise penniless farmers sold their acreage (generally at auction) for whatever they could get, and caught the next train out.  The mortgages, held by the banks as assets, were suddenly worthless. A lot of banks were also wiped out when they played the stock market in the 1920s (you know what happened then) before the Glass-Steagall Acts of 1932-33.[/QUOTE]