At the recent Senate hearings, Goldman Sachs' executives unanimously claimed that they had no obligation to operate in the best interest of their clients. As my lawyer friends say, this is a hollow caveat emptor nonstandard.

Growing up in an all-black community in Macon Georgia's segregated public housing with a single mother and nine siblings, we survived. We did so because, in general, we looked out for one another. The New Testament perspective that we held was, in effect, an informal fiduciary duty. It is a duty shared across the Main Streets of America. It is also a duty many community banks shared, before they were forced to compete with investment banks, and is shared by many religions from the teachings from the Quran to Buddha.

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