"Foreign Corrupt Practices Act, which was passed in 1977 to forbid American companies from rewarding corrupt foreign officials — even if they did so unwittingly."
So we're going to arrest every CEO that has a company operating in China?
Supreme leader needs to end entitlement programs so he can balance the budget, and continue tax breaks for the rich and offer sweetheart deals for the military industrial complex.
WASHINGTON - Today, Economic Policy Institute Senior Economist and Director of Policy Heidi Shierholz submitted a comment opposing the proposed delay of the Department of Labor’s “fiduciary rule,” which requires financial professionals to act in their clients’ best interests when recommending investment products or strategies to people saving for retirement. Perhaps surprisingly, it is currently legal in many cases for financial professionals to recommend higher-cost investment products that provide them with a higher commission but provide lower returns to their clients. The fiduciary rule would eliminate this conflict of interest.
Following a directive from President Trump, DOL proposed a two-month delay in implementing the rule. This delay will be enormously expensive to retirement savers—and not just during the period of the delay. As DOL itself notes, the losses that retirement savers experience from being steered towards higher-cost investment products during the delay “would not be recovered, and would continue to compound, as the accumulated losses would have reduced the asset based that is available later for reinvestment or spending.”
Every seven days that the rule’s implementation is delayed will cost retirement savers $431 million over the next 30 years. All told, the proposed 60-day delay will cost workers saving for retirement $3.7 billion.
“People who have worked hard to save for retirement need and deserve this common sense protection, which most people are shocked to discover isn’t already the case,” said Shierholz. “The only beneficiary of President Trump’s move to delay this rule is the financial industry, which wants to continue fleecing retirement savers for as long as possible.”
The Trump administration claims that delaying the rule will give it time to determine whether the rule would adversely affect the ability of Americans to gain access to retirement advice. This is a thinly-veiled tactic to kill the rule and allow the financial industry to continue taking advantage of retirement savers.
As part of the initial rulemaking process, DOL prepared a 382 page cost-benefit analysis examining in detail the expected economic impact of the rule. This was the culmination of a roughly six-year process that incorporated the feedback from four days of hearings, more than 100 stakeholder meetings, and thousands of public comments. Delaying the rule to revisit questions that have already been so thoroughly investigated is irresponsible and unjustifiable.
Conflicts of interest in retirement advice cost American families $17 billion a year. Delaying the fiduciary rule will simply mean business as usual as Wall Street firms continue to take advantage of working people.
Top of Page Bottom of Page PermalinkFull Name: Highnote Stringtwang
on Sunday, March 12, 2017 – 07:49 pm
The author speaks :
The author speaks :
https://youtu.be/shwoimUdmck
Top of Page Bottom of Page PermalinkFull Name: Hitchhiker awaiting "true call" Knotesau
on Sunday, March 12, 2017 – 08:00 pm
Paperwork will fix this.
Paperwork will fix this.
He could shoot a reporter in the street.
Top of Page Bottom of Page PermalinkFull Name: CT Equinoxmagick
on Sunday, March 12, 2017 – 09:40 pm
Easily the shadiest dude we
Easily the shadiest dude we've had in power in mode n times.
I would love nothing more than to see "Treason" carved into his forehead, and have him hung at high noon on the lawn of the whitehouse.
Top of Page Bottom of Page PermalinkFull Name: Localcountyline Localcountyline
on Sunday, March 12, 2017 – 09:56 pm
^Good luck with that. The
^Good luck with that. The Repubs will give him a medal before they
let that happen.
They will see to it that none of them are charged with anything, ever.
Top of Page Bottom of Page PermalinkFull Name: Highnote Stringtwang
on Sunday, March 12, 2017 – 10:01 pm
I like to think that the
I like to think that the Republicans will throw him under the bus before midterms.
Top of Page Bottom of Page PermalinkFull Name: Bucky Badger On Wisconsin
on Sunday, March 12, 2017 – 10:05 pm
That article came out last
That article came out last Monday.
Top of Page Bottom of Page PermalinkFull Name: Ausonius Thom2
on Monday, March 13, 2017 – 02:48 pm
"Foreign Corrupt Practices
"Foreign Corrupt Practices Act, which was passed in 1977 to forbid American companies from rewarding corrupt foreign officials — even if they did so unwittingly."
So we're going to arrest every CEO that has a company operating in China?
Top of Page Bottom of Page PermalinkFull Name: cb shuffle
on Monday, March 13, 2017 – 02:58 pm
^ Fine with me.
^ Fine with me.
Top of Page Bottom of Page PermalinkFull Name: jazfish Jazfish
on Monday, March 13, 2017 – 04:09 pm
Agreed, cb . Off with their
Agreed, cb . Off with their heads.
Top of Page Bottom of Page PermalinkFull Name: nevermind mikeedwardsetc
on Monday, March 13, 2017 – 04:15 pm
> So we're going to arrest
> So we're going to arrest every CEO that has a company operating in China?
Probably not, but it would send a helluva message to others if the CEO of the USA got popped.
Top of Page Bottom of Page PermalinkFull Name: RIK ELWOOD1
on Monday, March 13, 2017 – 04:22 pm
>>>So we're going to arrest
>>>So we're going to arrest every CEO that has a company operating in China???
Only the ones who are also president of the United States.
Top of Page Bottom of Page PermalinkFull Name: nevermind mikeedwardsetc
on Monday, March 13, 2017 – 04:29 pm
Closer to home, but similar
Closer to home, but similar to the Azerbaijan affair, Trump has a Panama problem.
https://www.fastcompany.com/3067820/trumps-panama-problem
Top of Page Bottom of Page PermalinkFull Name: Highnote Stringtwang
on Monday, March 13, 2017 – 04:43 pm
Thom, tell me how you're okay
Thom, tell me how you're okay with this.
Top of Page Bottom of Page PermalinkFull Name: nevermind mikeedwardsetc
on Monday, March 13, 2017 – 05:05 pm
By Thom's way of reckoning,
By Thom's way of reckoning, we shouldn't arrest murderers and rapists because there are too many of them.
Top of Page Bottom of Page PermalinkFull Name: nevermind mikeedwardsetc
on Wednesday, March 15, 2017 – 07:14 pm
Today was a pretty bad day
Today was a pretty bad day for Orange Julius Caesar.
Republicans are threatening to expose Trump as the emperor with no clothes
https://www.washingtonpost.com/local/social-issues/lawyers-face-off-on-t...
Federal judge in Hawaii freezes President Trump’s new executive order
https://www.washingtonpost.com/local/social-issues/lawyers-face-off-on-t...
Top of Page Bottom of Page PermalinkFull Name: That’s Nancy with the laughin’ face Nancyinthesky
on Friday, March 17, 2017 – 09:49 am
Trump blames Obama, then
Trump blames Obama, then blame the Brits!
http://www.telegraph.co.uk/news/2017/03/16/sean-spicer-says-british-inte...
Top of Page Bottom of Page PermalinkFull Name: cb shuffle
on Friday, March 17, 2017 – 10:49 am
We can't afford meals on
We can't afford meals on wheels but we can afford a fuckin wall.
Really?
Top of Page Bottom of Page PermalinkFull Name: That’s Nancy with the laughin’ face Nancyinthesky
on Friday, March 17, 2017 – 11:21 am
Nope, entitlement programs
Supreme leader needs to end entitlement programs so he can balance the budget, and continue tax breaks for the rich and offer sweetheart deals for the military industrial complex.
Top of Page Bottom of Page PermalinkFull Name: cb shuffle
on Friday, March 17, 2017 – 01:58 pm
Not going well with Merkel.
Not going well with Merkel.
http://nymag.com/daily/intelligencer/2017/03/trump-refuses-to-shake-hand...
Top of Page Bottom of Page PermalinkFull Name: nevermind mikeedwardsetc
on Friday, March 17, 2017 – 03:14 pm
Merkel's probably grateful
Merkel's probably grateful she didn't have to endure one of Trump's creepy, overly long handshakes.
Top of Page Bottom of Page PermalinkFull Name: Oaksterdam Dan Nugstradamus
on Friday, March 17, 2017 – 03:56 pm
This thread might run for 4
This thread might run for 4 years
Top of Page Bottom of Page PermalinkFull Name: 2 Room Shack Turtle
on Friday, March 17, 2017 – 04:00 pm
About high fucking time we
About high fucking time we jailed ceos....bring back the stockade.
Top of Page Bottom of Page PermalinkFull Name: ________ Heybrochacho
on Friday, March 17, 2017 – 04:48 pm
Socialism for the rich and
Socialism for the rich and tough love for everyone else.
Suckers
Top of Page Bottom of Page PermalinkFull Name: _ ender
on Friday, March 17, 2017 – 04:55 pm
Ownership society bitches!
Ownership society bitches!
Top of Page Bottom of Page PermalinkFull Name: nevermind mikeedwardsetc
on Friday, March 17, 2017 – 04:59 pm
Pitchforks, motherfuckers.
Pitchforks, motherfuckers.
https://www.ted.com/talks/nick_hanauer_beware_fellow_plutocrats_the_pitc...
Top of Page Bottom of Page PermalinkFull Name: ________ Heybrochacho
on Friday, March 17, 2017 – 05:09 pm
Those who own the country
Those who own the country ought to govern it.
John Jay
right there from the beginning
plain as black and white
suckers
Top of Page Bottom of Page PermalinkFull Name: _ ender
on Friday, March 17, 2017 – 05:14 pm
Load up on debt while it's
Load up on debt while it's still cheap.
Top of Page Bottom of Page PermalinkFull Name: Oaksterdam Dan Nugstradamus
on Friday, March 17, 2017 – 07:12 pm
White House mistakes
White House mistakes satirical article for one in support of Trump's budget plan
By Alyssa Pereira Updated 1:58 pm, Friday, March 17, 2017
http://www.sfgate.com/news/article/White-House-mistakes-parody-article-f...
Top of Page Bottom of Page PermalinkFull Name: cb shuffle
on Friday, March 17, 2017 – 07:35 pm
Lol.
Lol.
That's great, fuckin amatuers didn't even read the article, only the headline.
Top of Page Bottom of Page PermalinkFull Name: Oaksterdam Dan Nugstradamus
on Friday, March 17, 2017 – 08:13 pm
Trump Delay of the 'Fiduciary
Trump Delay of the 'Fiduciary Rule' Will Cost Retirement Savers $3.7 Billion
http://www.commondreams.org/newswire/2017/03/17/trump-delay-fiduciary-ru...
WASHINGTON - Today, Economic Policy Institute Senior Economist and Director of Policy Heidi Shierholz submitted a comment opposing the proposed delay of the Department of Labor’s “fiduciary rule,” which requires financial professionals to act in their clients’ best interests when recommending investment products or strategies to people saving for retirement. Perhaps surprisingly, it is currently legal in many cases for financial professionals to recommend higher-cost investment products that provide them with a higher commission but provide lower returns to their clients. The fiduciary rule would eliminate this conflict of interest.
Following a directive from President Trump, DOL proposed a two-month delay in implementing the rule. This delay will be enormously expensive to retirement savers—and not just during the period of the delay. As DOL itself notes, the losses that retirement savers experience from being steered towards higher-cost investment products during the delay “would not be recovered, and would continue to compound, as the accumulated losses would have reduced the asset based that is available later for reinvestment or spending.”
Every seven days that the rule’s implementation is delayed will cost retirement savers $431 million over the next 30 years. All told, the proposed 60-day delay will cost workers saving for retirement $3.7 billion.
“People who have worked hard to save for retirement need and deserve this common sense protection, which most people are shocked to discover isn’t already the case,” said Shierholz. “The only beneficiary of President Trump’s move to delay this rule is the financial industry, which wants to continue fleecing retirement savers for as long as possible.”
The Trump administration claims that delaying the rule will give it time to determine whether the rule would adversely affect the ability of Americans to gain access to retirement advice. This is a thinly-veiled tactic to kill the rule and allow the financial industry to continue taking advantage of retirement savers.
As part of the initial rulemaking process, DOL prepared a 382 page cost-benefit analysis examining in detail the expected economic impact of the rule. This was the culmination of a roughly six-year process that incorporated the feedback from four days of hearings, more than 100 stakeholder meetings, and thousands of public comments. Delaying the rule to revisit questions that have already been so thoroughly investigated is irresponsible and unjustifiable.
Conflicts of interest in retirement advice cost American families $17 billion a year. Delaying the fiduciary rule will simply mean business as usual as Wall Street firms continue to take advantage of working people.
Top of Page Bottom of Page PermalinkFull Name: 2 Room Shack Turtle
on Friday, March 17, 2017 – 08:47 pm
Heady libertarian thread....
Heady libertarian thread....