John C. Bogle and Fred H. Speece, Jr., CFA, discuss major flaws in today’s financial system and potential solutions. They focus on various topics, including corporate governance, fiduciary duty, and the restoration of trust in the investment profession. Additionally, Mr. Bogle and Mr. Speece discuss the danger of a culture of short-term speculation (focused on prices) overwhelming a culture of long-term investment (focused on the intrinsic value of a corporation).