Bogle: Financial Reform Better Than Nothing
Vanguard founder Jack Bogle thinks that although financial reform was a step in the right direction too many questions were left unanswered.
Christine Benz: I'd like to segue into financial reform. I know that you are very vocal about changes that you would like to see in the investment industry. Do you think that the financial reform package that was passed earlier this year, goes far enough? Does it address the right things in your view?
Jack Bogle: Well, first only in America. Can we appoint a commission to study the causes of the crash in the stock market, and pass a law to deal with them, six months before the commission makes its report. Because the law was passed in July and the commission, which I don't think a particularly impressive one, is going to send down its report at the beginning of December.