The TARP bailout went way beyond protecting depositors and instead gave unnecessary handouts to wealthy and sophisticated companies, executives, and investors.

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In general, the more services you provide above and beyond traditional investment management, the more sophisticated and wealthy the clients that you are serving.

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The wealthy often make sophisticated business and investment arrangements with complicated legal structures and tax consequences.

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"If you're ever around Somali people you know how enterprising they can be, how sophisticated and intelligent they can be and you have only circumstances which enhance the negativity of such wealthy people, " he says.

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