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Todd Herman

Financial advice now just for the rich

(AP)

Taken from Monday’s edition of the Todd Herman Show.

There is a truly frightening desire by elites to reign in the media. Two weeks ago, Trump called to change the libel laws; to “open up” the First Amendment.

Now the Obama administration is doing something that a lot of Trump supporters would probably support as well if it came from their guy. The Dept. of Labor has decided that only the rich can obtain financial advice in dealing with 401(k)s and retirements.

The “fiduciary rule” is a controversial (pending) Department of Labor regulation that would impose new restrictions on a vast number of financial professionals. This is going to affect anyone who gives financial advice on TV and radio; people like Dave Ramsey and Suze Orman. They can give general advice but not specific advice to callers because they can’t verify the caller’s income.

Why can’t I get financial advice from whoever I want? Why should there be a government official looking over my shoulder?

We need to take back our schools and college campuses where this movement started. There are too many university elites in charge of peddling a “rule of the elite”.

Remember how one of Obama’s FCC appointees loved the fact that Hugo Chavez took over Venezuelan media? Sometimes things can swing so far, that they can become irremovable.

Elections have consequences; and so does taking our eyes off the ball on our campuses.

Taken from Monday’s edition of the Todd Herman Show.

Todd Herman on AM 770 KTTH

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