So the misplaced assumption is that we have this whole new institutional element where these [financial] institutions are looking after their own financial interests before the financial interests of the principals, princi-pals whose interests they are really bound to observe… — John C. Bogle Copy Share Image
![“So the misplaced assumption is that we have this whole new institutional element where these [financial] institutions are looking after their own financial interests before the financial interests of the principals, princi-pals whose interests they are really bound to observe first.” quote by John C. Bogle](https://sms4smile.com/quotes/img-quotes/f29/john-c-bogle-2199_assumption_so-the-misplaced-assumption-is-that-we-h_2345017.jpg)