The fiduciary responsibility standard is there to protect people’s retirement which is all in the market. It sucks that people are losing are being laid off but I don’t think changing the standard would give these people their jobs back.
You should not be entitled to protection when you engage in gambling knowingly and with your own volition. These protections certainly should not come at the cost of someone’s job, the thing people do to follow the rules and contribute to society.
These people would lose their jobs regardless because twitch is not profitable.
Edit: Investments are made in good faith, and having law backing that and recourse for those wronged is important. Like it or not the millions of people with their money in the market outweighs the temporary bummer that is a few hundred losing their jobs. It might be popular to think that the people being hurt are sleazy venture capitalists but it’s the workers who rely on their 401k to be able to live when they retire or the parents who are trying to save for their child’s education that get hurt.
The fiduciary responsibility standard is there to protect people’s retirement which is all in the market. It sucks that people are losing are being laid off but I don’t think changing the standard would give these people their jobs back.
You should not be entitled to protection when you engage in gambling knowingly and with your own volition. These protections certainly should not come at the cost of someone’s job, the thing people do to follow the rules and contribute to society.
These people would lose their jobs regardless because twitch is not profitable.
Edit: Investments are made in good faith, and having law backing that and recourse for those wronged is important. Like it or not the millions of people with their money in the market outweighs the temporary bummer that is a few hundred losing their jobs. It might be popular to think that the people being hurt are sleazy venture capitalists but it’s the workers who rely on their 401k to be able to live when they retire or the parents who are trying to save for their child’s education that get hurt.
Holy shit you’re so adorable.
Instead it just makes an entire generation who never gets to retire.
The easiest way to protect retired people is to make sure there are no retired people to protect (taps head)