Jon Stewart Drops a Bombshell on Wall Street — Exposing How Retail Investors are Cheated
Stunning the world of finance on March 3rd, 2022 — Jon Stewart, the former host of The Daily Show on Comedy Central, published a podcast on his YouTube Channel, The Problem With Jon Stewart — in which he revealed the numerous, and strikingly unethical ways Wall Street takes advantage of retail investors. With the help of Former United States SEC Commissioner, Robert Jackson Jr, the duo detailed exactly how handicapped, underfunded, and weakened the Securities and Exchange Commission is at overseeing the financial markets and protecting retail investors.
Here are 4 unsettling takeaways from the 33-minute podcast that pertains to you, regardless of whether you own a 401K, IRA, Roth, or individual trading account.
1. Why the SEC is Unable to Do its Job
In many instances, The United States Justice Department is viewed and regarded as heavy-handed. It is not uncommon for individuals to receive life sentences for drug-related charges or an innocent person to be tried and convicted for murder based on circumstantial evidence.
In other, very-convenient instances, the U.S. Justice System is seemingly powerless. For the individuals who commit “white-collar” crimes, the punishment usually results in a mere slap-on-the-wrist.
What is a $250,000 fine to a Wall Street firm relative to the Tens-of-Millions it’s gaining by cheating?
The argument is easy to make that a “white-collar” criminal does far more damage to society than a simple drug dealer. Let’s not get the two confused. Both are criminals. Both deserve to be prosecuted by the law. However, one is capable of financially maiming millions of people — around the world — taking indiscriminately from the needy, elderly, families, and everyone in between.
So, why is the US Justice System so light-handed when it comes to punishing the individuals stealing on a mass scale? Why is the one agency, tasked with protecting everyday investors, incapable of issuing severe penalties to those who dare to steal, cheat, or break the law in the securities…