The House Just Voted To Give Wall Street Billions From Americans’ Retirement Savings
Terrific.
http://www.huffingtonpost.com/entry/house-fiduciary-rule_us_57222ef1e4b0f309baeff11b
The House Just Voted To Give Wall Street Billions From Americans’ Retirement Savings
Investment advisers are allowed to give you bad advice. The House wants to keep it that way.
04/28/2016 04:31 pm ET | Updated 2 hours ago
Ben Walsh
Business Reporter, The Huffington Post
Jim Bourg / Reuters
A new bill introduced by Rep. David Roe (R-Tenn.) would preserve financial advisers’ ability to steer their clients into investments that aren’t in the clients’ best interest.
If the House of Representatives gets its way, President Barack Obama won’t be able to crack down on unnecessary fees that cost Americans billions of dollars in retirement savings a year.
The House voted 234 to 188 Thursday to undo a rule proposed by the Labor Department earlier this month that would require anyone getting paid to provide retirement investment advice to act in the best interest of retirees. Many people think that’s already how things work, but it isn’t.
The way things work right now is that brokers who oversee retirement savings accounts can be paid extra to steer their clients into unnecessarily expensive funds or excessively risky investments, without disclosing that fact to their clients. That sort of conflicted investment advice costs Americans saving for retirement $17 billion a year, according to the White House Council of Economic Advisers.
To remedy the situation, the Obama administration proposed a fiduciary rule to keep Wall Street from taking so much money in fees from retirement accounts. The financial industry has opposed the rule from the start, saying it will raise costs and limit the advice investors can receive.
Legislators have tried to undercut the proposed rule, which is currently being reviewed by the Office of Management and Budget, for some time. In December, there was a push, which ultimately failed, to include language neutering the rule in the massive omnibus spending bill. And in October 2015, the House passed a similar bill to the one passed Thursday. Three such measures have been introduced in the Senate.
Fortunately for those worried about how this could affect savings, it’s likely that Obama would veto any bill rejecting the fiduciary rule that made it through the House and Senate.
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Name one (positive) thing Hillary will do better than Sanders. 
It's been proven over and over again.
It's all: Blah blah blah Bark bark grooowll Bark and also the fingers in the ears thing La la la la la la la!
That's pretty much it.
Since she has never been the president before, I would like to know how you KNOW for sure she would do this? Is it just all that BS the right wing trolls have been spewing here? Could you actually show me some proof to your claims? Shouldn't be to hard since it's been proven, over, and over, and over again, right?
What's Wrong Andy?
Been here since 2007 and still don't get it?
Funny you mention that because no one here has EVER put that together.
Thanks for the info.
Went Credit Union a while back and never looked back.
Way worth it.
WHY doesn't the house make it LEGAL FOR REPUBLICANS ONLY to be able to STEAL AND ROB BANKS. Just SHOW YOUR Republican card, and get a free pass. No Jail time, No Prosecution. Basic Amnesty. Of course to get your Republican card, you either have to be a Senator or maybe a major COKE dealer.
His district is just across the border from me. He's just as slimy as my own Rep. Mark Meadows. I swear these lunk heads would vote for the f'ing antichrist if he or she were a Rethuglican. Morons. 
I read on that "other site" where so many here go, that it wouldn't be all the bad if Trump where president. I mean they said so, and they said the Supreme Court was not a big deal either, so nobody should worry since they also claim both parties are the same, right?
If there is no adult contractual integrity, there is no economic integrity.
Suited jackals are enabling nothing but an economic jungle of prey and predators.
By everyone who's not a bankster!
No wonder so few of us watch main stream media - they don't focus on much of importance or consequence.
It just truly amazing how the republicans condone, that it is alright to rip people off and have it be legal, then turn right around and have there lobbyists sitting in there office as paid staff, and have some of them as functionaries of ALEC, Elliott Management, etc....getting this moola from the same firms, and say, see, we or just has corrupt and have always been corrupt, and people keep voting us in to be corrupt, and we got the means from U.S. Supreme Court to do this stuff, and they can make ripping off people legal-------------------amazing
And has for Clinton-------------------
Thomas Franks book: Listen, Liberal and--------------
Honk-----------------------for a political revolution Bernie 2016
until they get everything that everybody owns. 
