The best was the explanation
for getting rid of the rules imposing a fiduciary duty on investment managers.“We think it is a bad rule. It is a bad rule for consumers…. This is like putting only healthy food on the menu, because unhealthy food tastes good but you still shouldn’t eat it because you might die younger.”
Oh. My. God.
Seems some investment firms complained that this rule prevented them from offering certain products to investors. I'm sure it did. But, if you can't offer your customer a product without violating your duty as a fiduciary, how is that a bad thing? I mean, the mental gymnastics in play here defy understanding. And, this is the guy who (correctly) highlighted how Ted Cruz and Hillary Clinton were pawns of Wall Street and doing fuqall for middle America. And, now he goes and does this? How does this help anyone
on "mainstreet"? It doesn't.
If you voted for this guy because you thought that this is the type of crap Clinton was absolutely going to do and you though just maybe
he would be different, well, I guess now you know. But, if you voted for him because you believed him, well, click here
for a message on what happened to you.