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Trump Administration Blocks Investor Protection Rule

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February 8, 2017 by skokielib

Perhaps while there was all the distraction about the dishonest media not reporting terrorism you may have missed the Trump Administration’s rules to truly stick it to anyone with a retired account or personal investments.

The man who stood in front of crowds telling them he was going to drain the swamp filled his cabinet will uber-wealthy people, many from the very banking industry that created the Great Recession with their greed and dishonesty. So it should come as no surprise that early on, his administration is blocking an Obama Administration rule that had required investment professionals and brokers to act in their customer’s best interests, much like as is required by doctors and lawyers.

It seems awfully reasonable to expect someone that is providing savings and retirement account advice to act in your best interest. But the Trump Administration’s billionaire bankers aren’t for that kind of rule. They like screwing investors out of their hard earned savings. How else can rich fat cat bankers expect to continue to amass wealth and drive the economic divide between the wealthy and the not-wealthy further apart?

This is typical Republican behavior. Supposedly, this is the type of behavior that caused people to reject mainstream candidates and put Donald Trump into the White House. But it turns out, he really isn’t on our side. He’s on the side of the big bankers that can never ever have enough money

http://time.com/money/4659440/fiduciary-rule-delayed-donald-trump/

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