White House, Elizabeth Warren team up to protect retirement savings from Wall Street

[kpete]

Joined by Sen. Elizabeth Warren (D-Mass.), President Obama will move ahead on Monday with plans to impose new regulations for financial advisers; the rules are vehemently opposed by the business community.

Obama will announce his intentions during a speech at AARP's Washington offices on Monday afternoon, as The Hill first reported, where he will be joined by Warren and other senior White House officials. AARP has joined progressives and other groups, including the AFL-CIO in backing Obama's efforts for the new regulations.
White House officials say the new regulations — dubbed "fiduciary rules" — are needed to protect consumers from financial advisers who have conflicts of interests. They say too many financial advisers earn commissions from big banks after selling faulty retirement advice to unsuspecting Americans.

The Chamber of Commerce and other business groups, backed by moderate Democrats and Republicans, argue that Obama's new regulations decrease low- and middle-income Americans' access to retirement advice. They say the regulations will mean advisers have less incentive to take on low- and middle-income Americans' retirement accounts, which are less lucrative than those of wealthier Americans.

http://thehill.com/policy/finance/233446-warren-now-all-in-on-fiduciary-fight
http://www.dailykos.com/story/2015/02/23/1366251/-White-House-Elizabeth-Warren-team-up-to-protect-retirement-savings-from-Wall-Street

[JaneyVee]

1. HUGE K&R!

[InAbLuEsTaTe]

28. Yes! Elizabeth shines again, no surprise there.

[99th_Monkey]

2. Awesome development. Good on Obama. nt

[Orsino]

3. Would be good to see Sec. Clinton out in front of this, too. n/t

[Cosmic Kitten]

4. LoL, won't she have to check with Goldman Sachs first?

[Orsino]

5. This could be a bellwether for her presidency.

I'm not optimistic on this particular point.

[Cosmic Kitten]

6. absolutely!

But as the legislation would curb profit taking
from retirement accounts it's almost guaranteed
that Hillary-Goldman-Sachs WON'T support it.

I would be SHOCKED, SHOCKED if she does!
Come on Hillary support the working class!

[InAbLuEsTaTe]

27. Hillary's handlers are poll-testing this issue as we speak. Stay tuned.

[Cali_Democrat]

8. Hillary is not a government official like Obama/Warren

It wouldn't be appropriate for her to be there IMO.

[1StrongBlackMan]

14. +1 ...

But aren't candidate supposed to "get out in front" of policy positions 2 years before an election and before they even announce their run?

That's a sure-fire, proven way to win an election ... give your opposition as much time as humanly possible to craft, test, re-craft and re-test their counter-position!

[A Simple Game]

21. That works both ways. Every time Sanders or Warren open their mouths they give me

another reason to support them. Every time our "front runner" keeps her mouth shut she gives me another reason not to support her.

[1StrongBlackMan]

22. Okay ...

Ask yourself what a non-candidate (Warren - if you believe the words from her mouth) and/or a long shot candidate (Sanders -if you believe the polling) have to lose by staking out a position early, and compare that to a presumptive front running candidate.

Campaign strategy is just that, strategic.

ETA: I'm pretty sure that should HRC toss her hat into the ring, we will hear all we care to about her policy positions ... during the primary race.

[A Simple Game]

25. None have declared so I see no difference between them except for their

willingness to state their positions.

Do you think Hillary should be afraid to stand up for the middle class? If she won't that tells me a lot.

[1StrongBlackMan]

26. HRC is likely to declare ...

Warren has UNdeclared and Sanders is a long shot ... see the difference?

Do you think Hillary should be afraid to stand up for the middle class? If she won't that tells me a lot.

Again ... Why should she declare her position this early out? Other than, to please folks that are unlikely to believe her when she does?

[A Simple Game]

30. Why would anyone declare their positions so early?

To give voters time to evaluate them and thus be able to make the best decision in the primaries and the general election. Wouldn't that be considerate of her.

As for Warren UNdeclaring? Well she never declared but has had multitudes of individuals and donors urging her including some that apparently aren't even considering Hillary. http://crooksandliars.com/2014/11/progressive-donors-dont-invite-hillary I hope they don't know something we don't.

Perhaps Warren is just pulling a Hillary and not wanting to step into the fray too soon. See the similarity?

Thanks for letting everyone know that Hillary is scared to state her positions that could affect the middle class, that could make a big difference in the primaries if she runs. I may not vote for her now.

[1StrongBlackMan]

32. I doubt you planned to vote for her from the gate ...

To give voters time to evaluate them and thus be able to make the best decision in the primaries and the general election.

That is what primary season is for.

As for Warren UNdeclaring? Well she never declared but has had multitudes of individuals and donors urging her including some that apparently aren't even considering Hillary. http://crooksandliars.com/2014/11/progressive-donors-dont-invite-hillary I hope they don't know something we don't.

Perhaps Warren is just pulling a Hillary and not wanting to step into the fray too soon. See the similarity?

{Sighhh} No. I say no similarity between, "No. I am not running for President" and not saying one way or another on a whole host of policy positions.

[A Simple Game]

42. Sorry I don't know what this gate is you mention.

As for what primary season is for... doesn't stop the Republicans or Sanders from starting early.

As for the similarity... Warren is available to be asked, Hillary, well has anyone seen her lately so they could ask her?

[1StrongBlackMan]

45. Okay. n/t

[InAbLuEsTaTe]

29. Hillary will stand up 4 the middle class wen she figures out how 2 make bigga bux from them than her Wall Street/corporate buddies, ie, NEVER!

[A Simple Game]

31. Sounds about right to me, let's have a DU fundraiser and hire her to give us a speech!

We should get lots of money if all the Hillary posters put their money where... well you know the saying.


But then how are we going to counter all of the foreign money coming into the Clinton Foundation?
http://www.cbsnews.com/news/clinton-foundation-defends-foreign-fundraising/
Now why would foreign governments aid an outside foundation instead of spending the money on their own country's internal welfare? Just being nice neighbors I guess?

[1StrongBlackMan]

34. Because ...

they want to continue supporting programs that empower women and girls, fights disease and poverty, world-wide?

Just a thought.

[InAbLuEsTaTe]

38. Yes, most of those contributin Arab countries that treat its women like chattel & subject them 2 disgusting abuse also wanna empower those women...

Makes sense to me. Or, maybe they are just trying to buy influence.

[1StrongBlackMan]

40. On a different note ...

have you noticed the anti-HRC talking points are tracking closer and closer with those of the rw blogs?

https://www.gop.com/clinton-foundation-receiving-foreign-donations/

[A Simple Game]

41. Saudi Arabia and Oman are all for supporting women's rights.

As for what goes on at right wing blogs, I don't go to them, I leave that up to the people interested in right wing things. But you have a point, if the conservatives and the liberals both don't want Hillary, just who will elect her? Maybe the same people as in 2008?

If you really want to know more about Hillary, you should take a few minutes and research the Clinton Foundation's history of the donations it accepts and it's supporters.

[1StrongBlackMan]

43. Yeah ...

the talking point match is a pure coincidence.

[HappyMe]

11. Clinton does not work for the government currently.

[geek tragedy]

19. She's not President and she's not in the Senate nt

[Orsino]

35. That's why I'm not requiring her stance immediately.

But she's about to be president, so she should weigh in whenever it's convenient for her.

[Hekate]

36. Good set-up line for the comedy team which follows. nt

[Baitball Blogger]

7. So, incredibly important!

Woop! Woop!

[Jefferson23]

9. Great. K&R

[closeupready]

10. Good. There must be a term for profiting from helping to create incompetent financial advisers.

Or a fictional example of the smart guru who misleads dumb followers in order to take advantage of them - financially, sexually, politically.

[blkmusclmachine]

12. Clinton. HAHAHA

[1StrongBlackMan]

13. I wonder if ...

The Chamber of Commerce and other business groups, backed by moderate Democrats and Republicans, argue that Obama's new regulations decrease low- and middle-income Americans' access to retirement advice. They say the regulations will mean advisers have less incentive to take on low- and middle-income Americans' retirement accounts, which are less lucrative than those of wealthier Americans.

those saying that ... especially those "moderate Democrats" actually said that out loud before going on the record with it?

[annabanana]

15. "the rules are vehemently opposed by the business community"

Of COURSE they are...

greedy fucks...

[Hekate]

16. Kickety, kickety, kick. Thank you Mr. President! Some are obsessing about HRC, who is not in office

....while ignoring Obama, who IS in office, and keeping busy with things we very much would like to see come to pass. Why is that, I wonder?

[OKNancy]

17. Turns into a bash Clinton thread... most of the bashers don't even know her record

In 2007 Hillary Clinton proposed giving all workers the opportunity to easily save for the future in portable “American Retirement Accounts.” Workers would be able to keep this retirement account with them if they changed jobs and the plan would allow workers to save up to $5,000 a year on a tax-deferred basis. Workers could choose how they want to invest the savings and they would be able to tap into the savings penalty-free for major life investments like college, buying a home, and retirement. The Washington Post editorial board noted that Hillary’s plan was “the boldest of the campaign to address this troubling situation.”

http://correctrecord.org/hillary-clinton-fighting-for-americas-workers/

[Hekate]

39. They don't know her legislative record or her policy record and don't care. Recycled RW hatred...

...has gotten really old and smelly, and NOBODY'S EVEN DECLARED YET.

All the folks with Hillary Derangement Syndrome have got is the one vote they do remember and from that everything (seemingly) springs. Cut loose all the Dems who were fooled by Bush's lies that year, and who do you have left?

I would love to see a good strong bench of Democrats declaring for the Presidential run, but where the hell are they? And I don't mean Independents, Libertarians, Greens, or any other third party candidates. I mean Democrats.

The OP had nothing to do with Hillary Clinton, and yet here we are. Again.

[vkkv]

18. "" They say the regulations will mean advisers have less incentive..

.. to take on low- and middle-income Americans' retirement accounts, which are less lucrative than those of wealthier Americans. ""

Fine, let someone else who will follow the new rules get the extra business.

[sendero]

24. Low and middle class Americans...

.. need the "help" of these assholes like a fish needs a bicycle.

[SomethingFishy]

33. +1.. have people not noticed that "low and middle class" these days means

living paycheck to paycheck and that there is no money for "Retirement"?

The fact that we need rules to keep Corporations from fucking robbing us blind is quite telling in and of itself.

[Cha]

20. Go Team White House(Thanks Obama)and Elizabeth Warren.. mahalo kpete

[sendero]

23. "moderate" Democrats...

... yeah right. They are not moderates, they are sellouts and this regulation is sorely needed.

As for the rest of the usual suspects, the CoC, Republicans, etc, I never expect them to be anything short of bastards.

[bigwillq]

37. Cool.

K and R

[KoKo]

44. Go "Lizzie" ....We Have Your Back!

Keep it Going!

[libdem4life]

46. Good teaming up there. Think we're going to see more of this...Warren in the spotlight really

DOING things. One way or the other she's going to have a tremendous effect on our financial/economic future and that's a good thing.