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Breaking Down the Fiduciary Rule
The Department of Labor’s definition of a fiduciary demands that advisors act in the best interests of their clients, and to put their clients' interests above their own. It leaves no room for advisors to conceal any potential conflict of interest, and states that all fees and commissions must be clearly disclosed in dollar form to clients.
Wow what harmful regulation!
You do remember this rule was a response to the abusive and deceptive practice whereby "advisors" were getting clients to invest in products that the advisor was actually shorting, right?
A blind man could see how this was going to go, especially given the cast that Trump lined his cabinet with. They are as far removed from his working class voters as a pig is from a space ship. Every decision he will make is going to be slanted toward making the rich get richer on the backs of ordinary folks.
How they ever bought such an obvious scam just shows how Trump was right in his beliefs that Republican votes were so dumb that he could lie and lie, and still win.
He was pretty prophetic, wasn't he ??????
I hate trump as much as anyone, but he never said this about republicans.
This is the same mistake Obama made over and over. The next president can then simply re-instate it. We need to find a president that will quit being so damn lazy.
(this is not a comment on whether what he is doing is good or not)
You do remember this rule was a response to the abusive and deceptive practice whereby "advisors" were getting clients to invest in products that the advisor was actually shorting, right?
It boggles my mind that anyone would object to the Fiduciary Rule other than those tied to Wall Street. Also, while Dodd-Frank has its flaws, it is a step in the right direction compared to the prior 3 decades of financial deregulation increases (overseen by both Republicans AND Democrats) that led to the Great Recession.
A blind man could see how this was going to go, especially given the cast that Trump lined his cabinet with. They are as far removed from his working class voters as a pig is from a space ship. Every decision he will make is going to be slanted toward making the rich get richer on the backs of ordinary folks.
How they ever bought such an obvious scam just shows how Trump was right in his beliefs that Republican votes were so dumb that he could lie and lie, and still win.
It boggles my mind that anyone would object to the Fiduciary Rule other than those tied to Wall Street. Also, while Dodd-Frank has its flaws, it is a step in the right direction compared to the prior 3 decades of financial deregulation increases (overseen by both Republicans AND Democrats) that led to the Great Recession.
Dodd/Frank was highly flawed and needed to go but this is not how to do it and no, I do not have faith that even if done through the proper channels that it would be done right.
Why it was not done right to start with is mind boggling.
All you negative nancies needed to watch Maria Bartiromo (you know, the economic expert) on Fox News just moments ago. She just explained quite astutely that what Trump is doing is actually very much for the American people. There were some parts of Dodd-Frank that was stifling medium and small businesses because they forced banks to sit on capital and not lend out money.
All he's doing right now is to roll back the parts that were doing that so banks can start to lend money out to small and medium businesses. This will then get more businesses to start and/or expand and the jobs that comes with that.
So much for the kneejerk leftist claim that this was because he's working for Wall Street.
(BTW, Wall Street supported Hillary and was against Trump. All you had to do was look at the voting map in NYC to see that.)
Of course I never expected them to take any other position other than denouncing and criticizing Trump.
I thought Trump said he was going to crack down on Wall Street? So much for that.
Dodd-Frank is a garbage law that proved the unintended consequences almost immediately. Consider the authors LOL!
All it did was prevent banks from making loans to small businesses who create the most new jobs.
But leftists hate anything that help business. That's how they've been wired.
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