Walls Street #winning -- Trump signs 2 EOs today

[Barry-xlovecam]

Trump to sign executive actions targeting Obama financial regulations | TheHill

President Trump will sign an executive order that could effectively kill a contentious investment adviser rule that had been a top priority of President Obama.

The president is expected to sign a pair of executive orders targeting rules imposed on the financial sector Friday, according to senior White House officials. And one of those orders takes square aim at the “fiduciary duty” rule written by the Labor Department, finalized after years of effort in June.

That rule establishes significantly stricter standards on investment advisers for retirement plans and had been fiercely opposed by the financial industry.

MRGR

**bring on the Obama hate and libby hate trumpanzees

[woj]

gotta suck to be Obama... he didn't really accomplish much to begin with, and anything he thought he did, is getting reversed before he even got a chance to settle in his new home...

[Barry-xlovecam]

triggered :P

[pimpmaster9000]

this is all going so well

[OneHungLo]

triggered :P

Says the idiot posting non-stop 24/7 Trump threads

[Yanks_Todd]

gotta suck to be Obama... he didn't really accomplish much to begin with, and anything he thought he did, is getting reversed before he even got a chance to settle in his new home...

Obamacare will force them to address Health is some better way than it was previously. It can be made better, but the only way to do that is to lower costs some way and do so with out taking 20 million people off Health Insurance. They are actually stuck to somehow take money from the healthcare system and return it to the people. There is no other way to do it without creating a political disaster that they own 100%.

[MaDalton]

Because making America great again means that people do not need to be protected from insurance companies fucking them over for profit - got it.

[HowlingWulf]

[Barry-xlovecam]

This is good for me. When these guys screw you I will profit from your losses.
Fuckin' amazing you bought into this shit -- Yeah Trump the TERRIFIC!

[MaDalton]

this is explains the fiduciary duty perfectly - and the way eliminating that will give you no option anymore not to get fucked

and why?

Under the rule, advisers would have to act solely for the benefit of their clients. But industry critics argue it would be costly and burdensome to implement.

yeah, it would be costly to act solely for the benefit of their clients. right.

but hey, at least America will be great again

[woj]

yeah, it would be costly to act solely for the benefit of their clients. right.

but hey, at least America will be great again

you obviously don't understand what financial advisor is, what they do, how they bill, etc...

Obama meant well, but the whole premise of this law is missing the point... financial advisor is a skilled profession on par to accounting or law, so even moderately skilled financial advisors bill $100+/hr...

that means that 90% of people can not afford services of such a professional, especially considering that managing someone's finances properly to the new "fiduciary" standard is a non-trivial task, requiring numerous hours of work per year per client...

up to now, it all kinda worked, client had a few bucks to invest, advisor told him to put the $$ in some fund... he collected 0.2% or whatever commission on it each year, so he made some relatively easy $$, client usually got a reasonable return on his investment too, and everyone was happy...

now financial advisor can't tell the client to do the same anymore, cause now financial advisor bears pretty much fully responsibility for anything that could wrong... so if market goes down for example, it's now advisor's ass on the line, he needs to be able to justify that the fund was the best for the client, he needs to be able to prove that he properly advised the client about risks/diversification/etc, he needs to prove that he properly managed the client's portfolio, etc... and even with all that, some sleazy lawyer will always find some bullshit reason why it's financial advisor's fault that investment didn't work out...

so obviously that would cause the prices of financial advisory services to rise, something that was barely accessible to most people anyway...

[Barry-xlovecam]

US Unemployment is creeping up again
https://www.bls.gov/news.release/empsit.t15.htm

U3 to U6 is trending up.
Another 'workers victory'

[MaDalton]

you obviously don't understand what financial advisor is, what they do, how they bill, etc...

Obama meant well, but the whole premise of this law is missing the point... financial advisor is a skilled profession on par to accounting or law, so even moderately skilled financial advisors bill $100+/hr...

that means that 90% of people can not afford services of such a professional, especially considering that managing someone's finances properly to the new "fiduciary" standard is a non-trivial task, requiring numerous hours of work per year per client...

up to now, it all kinda worked, client had a few bucks to invest, advisor told him to put the $$ in some fund... he collected 0.2% or whatever commission on it each year, so he made some relatively easy $$, client usually got a reasonable return on his investment too, and everyone was happy...

now financial advisor can't tell the client to do the same anymore, cause now financial advisor bears pretty much fully responsibility for anything that could wrong... so if market goes down for example, it's now advisor's ass on the line, he needs to be able to justify that the fund was the best for the client, he needs to be able to prove that he properly advised the client about risks/diversification/etc, he needs to prove that he properly managed the client's portfolio, etc... and even with all that, some sleazy lawyer will always find some bullshit reason why it's financial advisor's fault that investment didn't work out...

so obviously that would cause the prices of financial advisory services to rise, something that was barely accessible to most people anyway...

you obviously did not watch the video - maybe Trumps cock blocked your view

(even though - he does have small hands - maybe it was his giant ass)

[Rochard]

gotta suck to be Obama... he didn't really accomplish much to begin with...

When you say Obama "didn't really accomplish much to begin with...." you mean other than cutting the unemployment rate in half, getting us out of two never ending wars, deporting more illegal immigrants than any other president, AND putting more people on healthcare then ever before?

[Paul Markham]

Obamacare will force them to address Health is some better way than it was previously. It can be made better, but the only way to do that is to lower costs some way and do so with out taking 20 million people off Health Insurance. They are actually stuck to somehow take money from the healthcare system and return it to the people. There is no other way to do it without creating a political disaster that they own 100%.

There are great examples of how to run a cheaper and better healthcare system all around the world. Some of them even involve private insurance companies. The difference is they're controlled as are the costs of the Health Service professionals.

[Paul Markham]

When you say Obama "didn't really accomplish much to begin with...." you mean other than cutting the unemployment rate in half, getting us out of two never ending wars, deporting more illegal immigrants than any other president, AND putting more people on healthcare then ever before?

He also got you into more wars that have turned to shit. Cutting employment was good if only he could have done it with jobs that pay a decent wage.

Deporting migrants is good, Clinton wanted to allow more in and legalise more.

He backed down from really tackling the core problem, the root cost of healthcare. Until that's dealt with, you will never stop being shafted.

Trump is the first step in breaking the hold of the career politicians who are more interested in getting funds from billionaires than the people. It was him or Clinton, who was a step backwards.

Hopefully, in the next elections, people will not vote for either Democrats or Republicans. Both are too controlled by the minority.

Bad choice but it's the only one.

[Barry-xlovecam]

Obama is gone ... Obamacare is maybe part-gone? Move on already ...

[Bladewire]

gotta suck to be Obama... he didn't really accomplish much to begin with...

That's intellectually dishonest and you know it.

[Bladewire]

Obama is gone ... Obamacare is maybe part-gone? Move on already ...

All they can cling onto is Obama because he was their object of hate for so long.

[JesseQuinn]

this is explains the fiduciary duty perfectly - and the way eliminating that will give you no option anymore not to get fucked


"Under the rule, advisers would have to act solely for the benefit of their clients. But industry critics argue it would be costly and burdensome to implement."

and why?



yeah, it would be costly to act solely for the benefit of their clients. right.

the total lack of understanding of history and economics required for peeps to celebrate these EOs is really frustrating

[thommy]

US Unemployment is creeping up again
https://www.bls.gov/news.release/empsit.t15.htm

U3 to U6 is trending up.
Another 'workers victory'

the point is that all you see today is the beginning of the end.

fact one: the stocks are going up because blondie canceled the important rules of the todd frank law. a law what was made to prevent another financial crisis as the 2007 crisis.
he opened the way for bubbles and that will be paid from the taxpayers again.

fact two: he can not hold his promis to half the unemplyment rate because with the actual uneployment rate of 4,8% US is already factic fullemployed. the unemployment rate went down in the last 8 years from 10 to now 4,8% - tell me how to half that. such a number did not exist in the complete american history. out of that are the present numbers aresult of a continual development of the last 8 years - so nothing what you could not see in the past.

fact three: the reached number of unemloyment rate will lead to the end of the support sales of the FED and it will invrease the intenerst rate.
with higher interests comapnies can´t invest that easy any more as they did and they will have a problem to keep their value because of missing support sales.

and these are just the INNER political points. the outer policical issues will make that not easier.

as markets and reacting always after the numbers, you will see the first big problem after the second quarter - means in the beginning of july. the big bomb will explode in january 2018 because many US companie´s fiscal years are calendar years.
the said of course only under the presupposition that the semi-monkey has´t until then triggert a global economic crisis or worse.

greetings
thommy

[Barry-xlovecam]

It was a lot worse when Regan took office in 1980 ... the country recovered by early 1984 from high inflation and high unemployment. Bank failures. Do a bit of research on the Recession of '81.

"most" of us survived somehow.


https://www.irs.gov/businesses/small...oyed/tax-years

Most (if not all) US corporations are on a fiscal tax year and NOT a calendar year.

[Yanks_Todd]

There are great examples of how to run a cheaper and better healthcare system all around the world. Some of them even involve private insurance companies. The difference is they're controlled as are the costs of the Health Service professionals.

I understand that, I live in the EU. My point was that this is the direction that they will have to go so therefore Obamacare will not totally die as the right has no choice but to move left on this.

[Barry-xlovecam]

The US government could do MFA (Medicare for all) for a lot less than the current private 3rd party insurers but not that much less -- maybe 30% to 35% less.

US medical worker and professional wages are not going to be cut 70% and the overhead of the system will not magically disappear -- that is pie in the sky thinking.

Wall Street healthcare and Pharma stock as well as REITs for medical RE Property would get trashed but the economy would benefit in the long run.

[Paul Markham]

The US government could do MFA (Medicare for all) for a lot less than the current private 3rd party insurers but not that much less -- maybe 30% to 35% less.

US medical worker and professional wages are not going to be cut 70% and the overhead of the system will not magically disappear -- that is pie in the sky thinking.

Wall Street healthcare and Pharma stock as well as REITs for medical RE Property would get trashed but the economy would benefit in the long run.

Building hospitals that provide healthcare for 30% less. Results in the private sector folding or competing. Finding qualified staff is easy, give work visas to doctors around the world. Long term it would save Americans a lot of money.

[Barry-xlovecam]

Maybe 50% of the Doctors on staff in hospitals in the USA *seem to be* foreign born.
Americans demand higher wages than most places in Europe generally and much higher in the medical professions. Fact of life. No one agrees to a pay cut easily.

The main savings could be in administration and accounting overhead and *non-profit* extravagant wage levels in the C-suite.

However, the cost of the insurance cost-complex could amount to a 10% reduction at best. You would still need to administrate benefits and payments. You would need to add a new layer of taxation and its administrative bureaucracy.

Healthcare is a $3.8 Trillion economic sector in the USA we could save 12%? or $456 Billion a year conservatively -- but -- this would be a massive disruption of one of the largest businesses in the USA. Military spending in the USA was only $598.5 billion in fiscal 2015. So this is a REAL BIGLY DEAL!