Agreed. Standard lawyer jokes aside, I used to routinely advise clients against filing lawsuits which would have benfitted me and my firm financially. In many cases, it would have been a waste of time and money for the client. I'm surprised that financial advisors think it's acceptable to advise against a client's interests. Not surprised that they would do it, but surprised that they publically state that there is nothing wrong with it.

I think high finance has deluded itself into thinking that they’re irreplaceable, and therefore they don’t have to pay an ounce of attention to their public image. In minor cases they might be right, but I think they’re underestimating the risks of mass scale legislation or reorganization directly caused by their malfeasance.