Under conditions of a scholarship requirement, he interrupted his study after two years to serve three years in the U.S. Navy, returning to earn a Bachelor of Science degree in aeronautical engineering in 1955.
Among military projects, that process is particularly bogged down, largely because of a requirement for review and oversight of study proposals by both an institutional review board and military officials.
The Dodd Frank legislation aimed to change this, by requiring the Securities and Exchange Commission to study the possibility of having something called the fiduciary standard, that is, the requirement to act in their clients best interests, apply to all sellers of financial services, not just investment advisers as the law currently reads.