Voluntary Standards: In the Public Interest?

R. David Pittle, Ph.D., Senior Vice-President, spoke before the CFA Consumer Assembly in Washington, DC.
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Good afternoon.

When I think of Voluntary Standards, I’m reminded of the man who was given the job of painting the white lines down the middle of a highway. On the first day he painted six miles; the next day three miles; and on the following day he painted less than a mile. When the foreman asked the man why he kept painting less each day, he replied, “Sorry, boss, but I just can’t do any better. Every day I keep getting farther away from my paint can.”
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