You should be held accountable for not advising granny against putting so much money into such a risky investment...You should have told granny to diversify and spread the risk buying numerous stocks and bonds..Can't blame wallstreet for you and grannys incompetence..
While that is a shame the question I have is: Why is Grandma investing in a wild choppy market at (I assume retured) her age in equities? Shouldn't she be in safer investments? What about buying protection when going through earnings? Volitile times in this market makes it very risky for anyone to have high exposure with no downside protection.
Granny is going to the same place the Federal Reserve oard has forced them to go to search for yield to pay their taxes, gap insurance and run her car. By the thousands they are going into financial planner firms with their converted CD cash and those firms are putting them in high yielding dividend stocks. They are being looted by the Feds and Brokers Now a repeat of 2008, but much worse when your in your 70's.