The safeguards would protect workers from conflicts of interest on the part of advisers who manage their 401(k)s and individual retirement accounts. The administration estimates that the protections would affect 15 million workers.
The proposed regulations would require retirement investment advisers and money managers to either base their investment advice on objective computer models certified by independent experts, or refrain from steering workers into funds they are affiliated with or from which they are receiving a commission.
I don't know how this country survived before Uncle Joe Biden and Uncle Barry Obama showed up to save us all from ourselves and from all of the dangers in the world. Since they seem to always know best, I guess it just makes sense for them to make all of our decisions for us and "protect" us from all of the evil money managers, lenders, insurers, bankers, and fill-in-the-blank.
For me, this goes so far beyond Democrat and Republican or Liberal and Conservative. It comes down to whether your believe in freedom and individual liberty and responsibility or you believe in having others "protect" you and decide for you what is best, what is safe, what is ethical, what is bad, what is good, what is expense, what is cheap, etc., etc..
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