2aguy
Diamond Member
- Jul 19, 2014
- 112,266
- 52,479
- 2,290
yes...all that money sitting in private retirement accounts.....and you guys thought that the left would let you keep it all to your selves.......that just shows you don't understand the left wing regressive a and their Borg like desire to control every aspect of your lives...
How do they plan on doing this......by regulating financial advisors out of managing private retirement accounts....so you will have no where else to go but to the government and the corrupt politicians who run it.........
Obama Now Setting Out To DESTROY This Vital Economic Tool We All Use
New rules going into effect at the end of the year change the “fiduciary rule” requiring financial advisors to act “in the best interest of their clients.” That sounds fine, but the devil’s in the details.
The rule “carries such enormous potential legal liability and demands such a high standard of care that many advisors will shun non-affluent accounts.” Read: Middle class Americans will be shut out.
At the same time, the Obama Administration is unveiling a host of new government-run competitors for retirement savings.
Labor’s new rule will start biting in January as the President is leaving office. Under the rule, financial firms advising workers moving money out of company 401(k) plans into Individual Retirement Accounts will have to follow the new higher standards. But Labor has already proposed waivers from the federal ERISA law so new state-run retirement plans don’t have the same regulatory burden as private employers do.
How do they plan on doing this......by regulating financial advisors out of managing private retirement accounts....so you will have no where else to go but to the government and the corrupt politicians who run it.........
Obama Now Setting Out To DESTROY This Vital Economic Tool We All Use
New rules going into effect at the end of the year change the “fiduciary rule” requiring financial advisors to act “in the best interest of their clients.” That sounds fine, but the devil’s in the details.
The rule “carries such enormous potential legal liability and demands such a high standard of care that many advisors will shun non-affluent accounts.” Read: Middle class Americans will be shut out.
At the same time, the Obama Administration is unveiling a host of new government-run competitors for retirement savings.
Labor’s new rule will start biting in January as the President is leaving office. Under the rule, financial firms advising workers moving money out of company 401(k) plans into Individual Retirement Accounts will have to follow the new higher standards. But Labor has already proposed waivers from the federal ERISA law so new state-run retirement plans don’t have the same regulatory burden as private employers do.
