Posted on 02/23/2015 11:39:35 AM PST by E. Pluribus Unum
Edited on 02/23/2015 11:57:58 AM PST by Admin Moderator. [history]
President Barack Obama speaks in Washington. Obama will call on the Department of Labor to develop a rule that would require retirement advisers to abide by a
(Excerpt) Read more at thestate.com ...
“mandating that they put their clients’ interest ahead of making a profit.”
Ummmmmmm......
Wall Street or the government bureaucrats?
Sounds like to wolves and a lamb voting on what's for dinner.
“Obama will call on the Department of Labor to develop a rule that would require retirement advisers to abide by a “fiduciary” standard — mandating that they put their clients’ interest ahead of making a profit.
Unlike doctors or lawyers, financial advisers are not obligated to look out for their clients’ best interests, said Labor Secretary Tom Perez. He said the change would modernize a 40-year-old rule.”
In theory, this should extend to the entire financial sector but I don’t trust this particular administration to pull it off.
If you buy an American newspaper...
If you watch network news...
YOU ARE MAKING A CONTRIBUTION TO THE DEMOCRAT PARTY...
“Do AARP members know that they are paying dues so that the organization can wage war on the rest of us?’
***
Do the members realize AARP is waging war on them?
AARP is much like a union. Collecting dues to enrich the hierarchy and funnel to Democrat politicians, but providing no benefit to the membership.
Obama’s theme , NO PROFITS
You can be in Business only if you make NO PROFIT
Well gee, thanks for looking out for us.
That that there will be a new law that financial advisors must look out for their clients somehow does not give me a lot of confidence.
I’ll continue to assume that financial ‘advisors’ are in it for themselves as that is, I believe, a more accurate picture.
I expect the same announcement for doctors soon. Why should those evil doctors who spent a decade of brutal studies becoming a doctor make a profit?
His ideas for “boosting the middle class” usually result in screwing the middle class to the wall.
yes.
here again, OBAMA will ANNOUNCE
....
whatever happened to
CONGRESS WILL VOTE FOR
(Oh yeah, Congress is just one of those inconvenient antiquated relics from the 1700’s, a conspiracy of European White Males to suppress Transformation, Hope, and Change into the People’s Democratic Islamic Caliphate.)
Yet the members remain lemmings.....
“Prep for seizing 401k’s after he crashes the dollar.”
******
Bingo. Will force into ‘safe’ investments consisting of government debt instruments (issued by insolvent governments). Heck. Jazz it up by putting those investments in government lockbox and call it Social Security Plus. (puke).
“Hi! I’m from the government and I’m here to help!”
“Now, for your safety, we’ll be transferring all your 401K assets into our ultra-safe FedGov annuity, with guaranteed 3% rate of return, above the rate of inflation.”
(never mind that FedGov bureaucrat over there whose job it is to churn out phony, low-ball inflation statistics, thus robbing you of your assets.)
It makes sense if you recall that “boost” is a slang term for “steal.” So, Obama has plans for stealing the middle class.
Let us pray.
I used to belong till I realized AARP was a leftist political organization. One of my friends still belongs because the organization puts out a really nice looking glossy magazine. Amazing how dumb downed we’ve become.
Our goal is a_little more modest.
We try to break even or have a refund equal to our first quarter’s payment. Then, we apply that to paying the first quarter’s_payment.
Good for you. You were giving the government an interest free loan that was $4000 greater in past years than you did this year. Now try to get that refund down to zero and you’ll be even better off.
It’s amazing our how society hasn’t totally imploded upon itself with all of the strangulating rules and regs FEDGOV puts out there on normal day-to-day routines.
When our society goes kaput, I hope libs get every ounce of pain they deserve for bringing this upon themselves and everyone else.
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