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Mr. Trump Sides With Wall Street; You Lose

Quicklink Submitted By   Follow Me on Twitter     Message Susan Lee Schwartz     Permalink    (# of views)   1 comment, 7 series

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 'This is obstruction, pure and simple. If the Trump administration gets its way, a rule to protect retirement savings, which would provide investors the same high level of care for both retirement and non-retirement accounts,  won't be enforced until mid-2019, at the earliest. The rule, properly enforced prevents banks,brokerage firms & insurance companies from steering customers into overly expensive products when comparable lower-cost option are available; this drains tens of billions of dollars in excessive fees from retirement savings. The fiduciary rule was debated & drafted over many years,and has  survived several legal challenges in federal court brought by the financial industry. It is no coincidence that the administration’s effort to roll back the fiduciary rule has been spearheaded by Trump's Economic Advisor, Gary Cohn, who was the president of Goldman Sachs.'

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I began teaching in 1963,; Ba and BS in Education -Brooklyn College. I have the equivalent of 2 additional Master's, mainly in Literacy Studies and Graphic Design. I was the only seventh grade teacher of English from 1990 -1999 at East Side (more...)
 

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