Trump sells out retirees to Wall Street and removes protections against economic collapse

http://www.dailykos.com/stories/2017/2/3/1629437/-Trump-sells-out-retirees-to-Wall-Street-and-removes-protections-against-economic-collapse
"Gary Cohn, White House Economic Council director, told the Wall Street Journal in an interview published last night that the administration would also move against a regulation designed to force retirement advisers to work in the best interest of their clients, the “fiduciary rule,” set to take effect in April and designed to eliminate conflicts-of-interest among professionals dealing with those enrolled in qualified retirement plans and IRAs. Donald Trump is going to make sure that Wall Street can keep lying to clients and feeding off retirees—because that’s what makes America great. The fiduciary rule, which hasn’t yet gone into effect, was intended to make sure that financial advisers were actually giving their best advice. That’s because giving bad advice can be very good for unscrupulous advisers who milk their clients by making hundreds of unnecessary trades and pocketing the fees, or pushing clients into high-cost funds from which the adviser gets a kick back. The basic idea was to make sure that when people were investing in retirement funds, the experts they paid to advise them and manage those funds were actually working for the people who were supposed to be their clients, rather than fattening themselves at their client’s expense. Naturally, Wall Street hated this rule."