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Thread: Senate Republicans: Dead presidents over people

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    Default Senate Republicans: Dead presidents over people

    WASHINGTON — Republicans controlling the Senate passed legislation Tuesday to block new Obama administration rules that require financial professionals to put their client’s best interest first when giving advice on retirement investments like individual retirement accounts.The Senate passed the legislation to roll back the rules by a mostly party-line 56-41 vote. The regulations are aimed at blocking financial advisers from steering clients toward investments with higher commissions and fees that can eat away at retirement savings.

    The new regulations, commonly known as the “fiduciary rule,” require advisers who charge commissions to sign a promise that they will act in the client’s best interests, earn “reasonable” compensation and disclose information about fees and conflicts of interest. It will take effect next April

    “It’s pretty simple. It says if you’re giving people advice on their retirement accounts, you should put the clients’ best interests ahead of your own,” said Sen. Patty Murray, D-Wash. “We’re here today because Republicans want to block that new rule from helping families. That’s just wrong.”

    https://www.washingtonpost.com/business/republicans-aim-to-block-stricter-rule-on-retirement-savings/2016/05/24/40b30806-21d1-11e6-b944-52f7b1793dae_story.html


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    Think Cawacky is happy?

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    Quote Originally Posted by Legion Troll View Post
    Think Cawacky is happy?
    I'm guessing yes, although Obama is supposed to veto the Senate version.


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    Quote Originally Posted by christiefan915 View Post
    I'm guessing yes, although Obama is supposed to veto the Senate version.
    That means Cawacky can fleece old ladies and line his pockets a little longer?

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    Quote Originally Posted by christiefan915 View Post
    WASHINGTON — Republicans controlling the Senate passed legislation Tuesday to block new Obama administration rules that require financial professionals to put their client’s best interest first when giving advice on retirement investments like individual retirement accounts.The Senate passed the legislation to roll back the rules by a mostly party-line 56-41 vote. The regulations are aimed at blocking financial advisers from steering clients toward investments with higher commissions and fees that can eat away at retirement savings.

    The new regulations, commonly known as the “fiduciary rule,” require advisers who charge commissions to sign a promise that they will act in the client’s best interests, earn “reasonable” compensation and disclose information about fees and conflicts of interest. It will take effect next April

    “It’s pretty simple. It says if you’re giving people advice on their retirement accounts, you should put the clients’ best interests ahead of your own,” said Sen. Patty Murray, D-Wash. “We’re here today because Republicans want to block that new rule from helping families. That’s just wrong.”

    https://www.washingtonpost.com/business/republicans-aim-to-block-stricter-rule-on-retirement-savings/2016/05/24/40b30806-21d1-11e6-b944-52f7b1793dae_story.html
    Good grief, retirees for gawd sake! Fleecing old people!

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    Quote Originally Posted by Rana View Post
    Good grief, retirees for gawd sake! Fleecing old people!
    Family values party.

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    Quote Originally Posted by Legion Troll View Post
    Family values party.
    Exactly

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    As Zappa would say I must be living rent free in the troll's head.

    I read up on the legislation. Like a lot of things when you add regulation that increases cost and ultimately lowers services who generally gets hurt? That's poor and lower income people. That's what this is about.

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