“Fiduciary capacity” is an ethical standard of trust imposed
by law on one who holds another’s money for investment, basically requiring said
holder to act prudently, meaning, in Wall Street terms anyway, in the sucker’s
interest instead of your own.
Laughably,
the Securities and Excuses Commission (SEC) has always exempted Crime Family
goons calling themselves “stockbrokers” from this legal burden. No matter how they screw you, or how badly,
those thugs CANNOT BE SUED FOR BREACH OF FIDUCIARY CAPACITY like employees in,
say, a bank trust department would - for doing the same f#$&!ng thing,
whatever it may be.
Recently,
in another passive action appropriately ignored in the media, some advisory
panel has proposed that our hotshots at the SEC start doing the right
thing. Since that hasn’t happened in the
eight decades or so since the worthless, lollygagging, good-for-nothing agency
was stuffed down our perpetually victimized financial gizzards, it seems
prudent to assume this ain’t going down any time soon.
Here’s the one piece we could find
about this non-development anyway. We
keep our subscribers informed about nothing when nothing’s happening too.
