Even with the market at its present level, I think the risks are considerable to careless investors, to thoughtless investors, to accepting investors. The commission has had an extraordinary tradition of excellence and has always stood for investor protection. But in a democracy, it is the people themselves who will determine what type of an SEC there is. It is my hope that educated investors will prevent any action by Congress or successor SEC chiefs that would diminish those investor protections. A Individual investors need to understand that Congress has a tremendous bearing on investing these days.
Every individual investor ought to hold their representatives accountable on investor issues.
Since so much of what happens to investor protection happens on Capitol Hill, that's where investors need to make their impact felt. Kathy Kristof is a personal-finance columnist with the Los Angeles Times. She welcomes comments and suggestions, but regrets she cannot respond personally to every inquiry.