Friday, April 29, 2016
Republicans won't protect Americans from financial advisers
See this story. The Dept. of Labor passed new rules that require financial advisers to put their clients retirement interests ahead of their own profits. Never mind that they don't have to do that now via Republican corrupt legislation. So the House Republicans passed a resolution blocking the new rule, saying it would raise the price of retirement advice. So I guess it's ok to screw people out of all their retirement money as long as it costs less in fees up front? I'm pretty sure most of all of us would rather pay a higher fee up front--if that claim is actually true (and it's likely not)--and have an intact retirement account when it's time to do so.