Speaking at AARP headqusrters in Washington, President Obama will announce orders to the Labor Department to write new rules for financial managers who handle retirement accounts for working Americans. As USA Today reports [4], The White House says the goal is to end "hidden fees that hurt consumers and back-door payments that help Wall Street brokers," deals that costs retirees billions of dollars in savings. White House officials said they want new fiduciary standards that would require financial advisers to put clients' interests ahead of their own... and "buy our bonds."
We wonder how long before there will be an official asset allocation by dictat...
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