Rigged Economy: House votes to bleed Billions from Retirement
From the Huffington Post:
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.
Not a single Republican voted against the bill, and not a single Democrat voted for the bill.
The article concludes that it is likely that Obama would veto any bill rejecting the fiduciary rule that made it through the House and Senate.
Bernie should include this in his speeches, and to name the Representatives in each state he is in that voted for this.
Comments
Note it is not a 2/3 vote for....
IOW ... it's a duh that all it'll take is Obama vetoing it. And he's likely to do so, unless he's further brain-damaged.
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Muerte al fascismo. Muerte a la tiranía. colapso total de los que promueven tampoco. A la pared con el unico porciento%
Let's not forget Obama want's to pass TPP
TPP will be his final knife in the back as he slithers out the White House door. It will be interesting to see if he signs this for TPP support.
Donnie The #ShitHole Douchebag. Fake Friend to the Working Class. Real Asshole.
Obama Lies
Ever since he boasted about how he would filibuster the FISA bill only to vote for passage, I have never believed that Obama would ever do anything which benefits me. He will do what he's told to do to ensure that Wall ST (who owns him) gets another opportunity to steal from We the People, just like he will push TPP through the Congress during the Lame Duck Session.
Vowing To Oppose Everything Trump Attempts.
Lame Duck session
I think this Lame Duck session will be one of the worst for the people and what's left of the Constitution.
"The justness of individual land right is not justifiable to those to whom the land by right of first claim collectively belonged"
The SUPREME IRONY is...
... Obama was once a college prof who taught constitutional law.
Ain't that a kicker?
He's violated, and helped prolong, more constitutional principles than I've ever been able to count. I had hoped he'd head a push to give us our rights back that were taken with the passage of the Patriot Act, MCA '06, FISA '08 (which he voted FOR), but then along came his own MCA '09, and I knew we had no chance. Yes, the Patriot Act expired, but two days later, Section 215 (renamed to something else), which was the worst section of the Patriot Act, was passed back into law. The sponsor? Senator Patrick Leahy, D-VT, whose tearful and impassioned words against passing MCA '06 had me in tears when I was watching C-SPAN before that vote.
This is the newspaper article from June 28, 2007, that made me decide not to back Obama. All the other "frontrunner candidates" had already said much the same (as I've said before, I could never tell any of them apart because they all said the same things), which was why I also did not support them. This is also when I knew that if Obama were president we would not be happy with him in the end.
http://usatoday30.usatoday.com/news/washington/2007-06-28-obama-impeachm...
He SO did not deserve that Nobel Peace Prize just for not being Bush.
I believe in an America where the separation of church and state is absolute ..., where no church or church school is granted any public funds or political preference. — President John F. Kennedy, Houston, TX, 12 September 1960
Where does hrc stand on this?
Inquiring minds want to know.
"The “jumpers” reminded us that one day we will all face only one choice and that is how we will die, not how we will live." Chris Hedges on 9/11
It Depends On Which Day
She didn't come out against TPP until last October, after she'd praised it highly well over 40 times which can be accounted. Tom Donohue of the US Chamber of Commerce is on record as declaring she will pass it no matter what she now says to get elected.
When it comes to Hillary, I listen to those who represent Big Money - just like she does.
Vowing To Oppose Everything Trump Attempts.
IF you think that Shillary..
..gives a flying fuck about people who need Medicare or Social Security for survival, marginal or comfortable is irrelevant, THEN THINK AGAIN on the meaning of OLIGARCHY.
She's a fucking REPUGNANTCVNT, for shit's sake.
I do not think for even one single solitary nanosecond that her and Bill's announcing that they had a health plan for the nation's people while Bill was President was truthful, whether it came out of his mouth or hers. She has NEVER EVER EVER given a damn about women with less than she has. It's one reason I used to go after "JustaGirl" on Delphi back when she pretended to be a progressive. She claimed to have been a friend, a back door kitchen coffee klatch friend of HRC in Arkansas back in her early married years with WJC. She swore up and down HRC was progressive. It was a lie a decade plus ago and it is STILL a lie.
I truly think she's an oligarch from the cradle and she got WJC's endorsement of oligarchy by the time he'd been in the Oval Office for six months.
I work hard never to use the word "hate" because emotions -- not just words -- are ill-wishes and rebound on oneself magnified. I've come damned close with all oligarchs in the past decade and it's still getting worse.
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Muerte al fascismo. Muerte a la tiranía. colapso total de los que promueven tampoco. A la pared con el unico porciento%