> But won't take responsibility, and no government will hold him accountable
In Europe we have regulations for this, and they are definitely held accountable, tho not very often.
For example in the early '00s some Italian banks were held responsible for suggesting investment in argentine bonds as "safe" to unrefined clientele.
At a minimum the Mifid questionnaire will restrict you from buying securities you do not understand, and any court will trivially be able to see if your financial advisor filled it in for you.
In Europe we have regulations for this, and they are definitely held accountable, tho not very often.
For example in the early '00s some Italian banks were held responsible for suggesting investment in argentine bonds as "safe" to unrefined clientele.
At a minimum the Mifid questionnaire will restrict you from buying securities you do not understand, and any court will trivially be able to see if your financial advisor filled it in for you.