Coolest Thing I’ve Seen & Heard All Week
Always been a huge Springsteen fan even though his more recent albums have left me unenthused. But here's why I love him. He's on a European tour and...well, let's just…
The Labor Department proposal, known as the “fiduciary rule,” would change the ethical standards by which employer-based retirement products like 401(k)’s and IRAs are marketed and sold. The rule has not been updated since 1975, before 401(k)’s and IRAs even existed. The Labor Department wants to broaden the definition of a “fiduciary” to cover all financial advisers who offer individual investment advice for a fee. Under the rule, they would be legally required to work in the best interest of their clients. For example, a fiduciary would not be able to push investment products on customers in which they have a financial stake.
“None of the deals Biden has struck have aged well from the perspective of the Democratic Caucus,” said one Senate Democratic official aware of Reid’s face-to-face insistence that Biden be excluded. "In December, McConnell went around Reid — and straight to Biden — to get a better arrangement for Republicans.