Republican Opposition to the Fiduciary Rule?

WhatsHisNuts

WhatsHisNuts

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I thought this was already in place, but the only thing that is in place is if you ask a financial adviser if they are a fiduciary or not. If they are, they have to act in your best interest, if not, they just do what's best......probably for them. I saw a video of Paul Ryan complaining about the new rule and read that he is worried it will hurt small businesses now that they have to prepare additional paperwork which takes time and money. What about the time and money consumers lose when they get suckered by a shill? I don't understand. Anyone know anything about this? Seems like a shitty thing for Paul Ryan to stick his neck out for.
 
Duff Miver

Duff Miver

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WhatsHisNuts said:
I thought this was already in place, but the only thing that is in place is if you ask a financial adviser if they are a fiduciary or not. If they are, they have to act in your best interest, if not, they just do what's best......probably for them. I saw a video of Paul Ryan complaining about the new rule and read that he is worried it will hurt small businesses now that they have to prepare additional paperwork which takes time and money. What about the time and money consumers lose when they get suckered by a shill? I don't understand. Anyone know anything about this? Seems like a shitty thing for Paul Ryan to stick his neck out for.
Click to expand...

Well, you see, Paul Ryan IS a shill. He proposes financial plans that any accountant can tell you are outright frauds.

You want to see what the Republican shill gane is? Just look as Sam Brownback in Kansas.

He ran the biggest shill in the past century. Told Kansans that if they cut taxes the state would boom. They bought that scam, elected him governor.

Now Kansas is deep in debt, their schools suck, and people are fleeing.

I know Sam Brownback. Met him at a county fair, running a three-card-monty table.

In its full form, three-card Monte is an example of a classic "short con"[2] in which a shill pretends to conspire with the mark to cheat the dealer, while in fact conspiring with the dealer to cheat the mark. The chances of a mark winning are almost nil against a skilled con artist.

W1siZiIsIjIwMTQvMTAvMTYvMjAvMDEvMjMvNzk0L3JlbGVudGxlc3NsaWVzLnBuZyJdXQ
 
Cie

Cie

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Duff Miver said:
Well, you see, Paul Ryan IS a shill. He proposes financial plans that any accountant can tell you are outright frauds.

You want to see what the Republican shill gane is? Just look as Sam Brownback in Kansas.

He ran the biggest shill in the past century. Told Kansans that if they cut taxes the state would boom. They bought that scam, elected him governor.

Now Kansas is deep in debt, their schools suck, and people are fleeing.

I know Sam Brownback. Met him at a county fair, running a three-card-monty table.

In its full form, three-card Monte is an example of a classic "short con"[2] in which a shill pretends to conspire with the mark to cheat the dealer, while in fact conspiring with the dealer to cheat the mark. The chances of a mark winning are almost nil against a skilled con artist.

W1siZiIsIjIwMTQvMTAvMTYvMjAvMDEvMjMvNzk0L3JlbGVudGxlc3NsaWVzLnBuZyJdXQ
Click to expand...

Sam Brownback and Bobby Jindal must be related
 
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ryson

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WhatsHisNuts

WhatsHisNuts

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ryson said:
https://www.dol.gov/agencies/ebsa/a...l-final-rule-to-address-conflicts-of-interest


http://www.cnbc.com/2016/06/07/obamas-new-retirement-rule-is-a-big-mistake-commentary.html


http://www.forbes.com/sites/brianme...impact-your-retirement-accounts/#308310062ab5

You either go self directed or managed for your retirement accounts. If you do nothing you are automatically self directed. It's going to be enacted April 2017....
Click to expand...

Why is Paul Ryan fighting it? Is it just because it is one of Obama's initiatives? I read the second article and it doesn't make a very good case against it, unless you come in knowing nothing else about it. The rule is designed to protect consumers. Companies like Ameriprise Financial used to hire anyone to be a financial adviser because it wasn't about helping people, it was about selling their products but packaging it to look like financial advice. I think that's the crap Obama is trying to stop, especially since pensions and other forms of guaranteed income have gone the way of the Dodo.
 
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