Goldman case leads Dems to push stronger fiduciary standard

The fraud case against Goldman Sachs underscores the need for stronger fiduciary standards for brokers, two Senate Democrats said Thursday.

Democratic Sens. Robert Menendez (N.J.) and Daniel Akaka (Hawaii) support an amendment to financial overhaul legislation that would require a stronger fiduciary standard for brokers when they give advice to clients. They are dubbing their legislation the, "Honest Broker Amendment.

The amendment can be viewed here.