New Rule:Wall Street must put Retiree needs first: WALL STREET SAYS NO

https://www.ringoffireradio.com/2015/08/wall-street-lobbying-machine-opposes-rule-that-would-prevent-them-from-cheating-retirees/

The Department of Labor earlier this year issued a proposed fiduciary duty rule designed to better protect retail mom-and-pop retirement investors. The proposed rule is simple: require investment firms and banks such as UBS and J.P. Morgan to act in the best interests of their clients. The rule was intended to combat conflicts of interest such as an investment advisor recommending inappropriate in-house products simply to earn higher fees and commissions. The White House Council of Economic Advisers estimates that these types of conflicts of interest cost investors a staggering $17 billion a year.