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02-11-2016, 11:28 AM #1
Ridiculous Lawsuit Against Vanguard Claims Their Fees are Too Low
So some former Vanguard employee was able to collect a $100,000+ "whistleblower" bonus by claiming that Vanguard's fees are too low, and that it is costing some states tax revenue because of this.
Apparently, this whistleblower feels that Vanguard, by charging less fees than other mutual funds, is not negotiating an arms length price.
What a joke. And what a joke that this guy was paid for this.
Maybe it is all the other firms who are overcharging because they put making excess profits over their customers.
02-12-2016, 07:46 AM #2
Wow! Vanguard's been around a long time, and has made plenty of money for its owners and clients. And there are other funds that often are able to match its low fees - such as iShares and Fidelity.
I am not sure how this can go forward.
Instead, maybe other fund managers should be sued for not charging lower rates, as they should in an arms length transaction. After all, where are their customers yachts.
02-17-2016, 05:54 AM #3
Thank goodness we have courageous accountants like this whistleblower, willing to let Americans know when they are being treated well by a corporation.