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United States44190 Posts
Just listened to a great Scaramucci interview on the fiduciary rule. In case anyone has forgotten, that's the rule that says that your financial adviser can't put his interests ahead of yours. Examples of things this prevents are a third party paying your financial adviser to use your money and buy their bad product, the financial adviser deliberately giving you bad advice due to a financial conflict of interest, and so forth.
He attacked it on the grounds of choice, saying that the only way the market can possibly progress is if we try all sorts of different approaches, not simply a narrow selection of government approved ethical options. He went on to insist that more options is always better and that by preventing financial advisers from pushing some options, such as those where they have a financial conflict of interest, they're denying consumer choice.
Then he claimed that secretly everyone in favour of a fiduciary rule knows that it would only make it worse for the investors and that they're trying to kill jobs because 70,000 financial advisers might lose their jobs.
Truly a towering intellect.
If we forbid doctors from taking kickbacks for pushing homeopathy on patients then how will medical science possibly advance. And anyway, it's not like the doctors are doing anything other than offering homeopathy, that's just choice, nobody would ever just trust the recommendation of a doctor. They're simply providing all the options and maybe nudging the patient towards the one where they make money, ultimately the responsibility for the outcome still lies with the patient. And think of all the homeopathy jobs at stake. If these people were honest with themselves then they'd just admit that they hate water.
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On July 28 2017 05:53 TheTenthDoc wrote:I can't believe the Senate and House are fighting over who has to take ownership of this shit bill. It's like a game of hot potato, but people not playing get their wallets set on fire by the potato. Show nested quote +On July 28 2017 05:52 Mohdoo wrote:I feel like it would be worth seeing how many democrats think he won the popular vote. It was 7% of Democrats and 24% of independents.
rofl well never mind then.
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On July 28 2017 06:00 KwarK wrote:
Just listened to a great Scaramucci interview on the fiduciary rule. In case anyone has forgotten, that's the rule that says that your financial adviser can't put his interests ahead of yours. Examples of things this prevents are a third party paying your financial adviser to use your money and buy their bad product, the financial adviser deliberately giving you bad advice due to a financial conflict of interest, and so forth.
He attacked it on the grounds of choice, saying that the only way the market can possibly progress is if we try all sorts of different approaches, not simply a narrow selection of government approved ethical options. He went on to insist that more options is always better and that by preventing financial advisers from pushing some options, such as those where they have a financial conflict of interest, they're denying consumer choice.
Then he claimed that secretly everyone in favour of a fiduciary rule knows that it would only make it worse for the investors and that they're trying to kill jobs because 70,000 financial advisers might lose their jobs.
Truly a towering intellect.
If we forbid doctors from taking kickbacks for pushing homeopathy on patients then how will medical science possibly advance. And anyway, it's not like the doctors are doing anything other than offering homeopathy, that's just choice, nobody would ever just trust the recommendation of a doctor. They're simply providing all the options and maybe nudging the patient towards the one where they make money, ultimately the responsibility for the outcome still lies with the patient. And think of all the homeopathy jobs at stake. If these people were honest with themselves then they'd just admit that they hate water.
I bet this guy killed it during the subprime boom. That was his era. When they could sell investors on things like loans that don’t require proof of income. Fuck everything. Seriously, I have never seen a more perfect example of modern day Wall Street and their belief that government is in the way of everything. That they shouldn’t be regulated at all and won’t run this country into the ground. And when you tell them “look at 2007-2008?”, they say it won’t happen again. People are smarter now.
Its like the movie Wall Street, but Charlie Sheen doesn’t go to jail in the end and Gecko gets to work in the White House.
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Quoth Graham: "The 'skinny bill' as policy is a disaster."
Sounds like he's going to vote for it.
Edit: Yep, basically said he'll vote for it provided it goes to conference with the House and turns into something else. What an ass. You too, McCain.
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On July 28 2017 05:53 TheTenthDoc wrote:I can't believe the Senate and House are fighting over who has to take ownership of this shit bill. It's like a game of hot potato, but people not playing get their wallets set on fire by the potato. Show nested quote +On July 28 2017 05:52 Mohdoo wrote:I feel like it would be worth seeing how many democrats think he won the popular vote. It was 7% of Democrats and 24% of independents.
Are those people who are misinformed, people who believe what Trump says about the "millions of illegal votes cast," or both?
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On July 28 2017 06:25 Dromar wrote:Show nested quote +On July 28 2017 05:53 TheTenthDoc wrote:I can't believe the Senate and House are fighting over who has to take ownership of this shit bill. It's like a game of hot potato, but people not playing get their wallets set on fire by the potato. On July 28 2017 05:52 Mohdoo wrote:I feel like it would be worth seeing how many democrats think he won the popular vote. It was 7% of Democrats and 24% of independents. Are those people who are misinformed, people who believe what Trump says about the "millions of illegal votes cast," or both?
Well, I would consider people who believe what Trump says with 0 evidence beyond a 2015 study misinformed. But it's probably some mixture of genuine ignorance and belief in liars with 0 evidence.
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I think Mooch is going to be gone by the end of the week lmfao
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I'm convinced Trump hired this clown to create a firestorm of distractions. Nobody is this out of control without permission, tacit or not, from their higher ups.
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On July 28 2017 06:22 TheTenthDoc wrote:
Quoth Graham: "The 'skinny bill' as policy is a disaster."
Sounds like he's going to vote for it.
Edit: Yep, basically said he'll vote for it provided it goes to conference with the House and turns into something else. What an ass. You too, McCain.
I take it all back. McCain is literally the worst. This is why the Republican party has to be burned to the ground. What a bunch of useless corporate shills.
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On July 28 2017 06:29 On_Slaught wrote:
I'm convinced Trump hired this clown to create a firestorm of distractions. Nobody is this out of control without permission, tacit or not, from their higher ups.
Very likely true. This is the same thing as announcing trans stuff. They knew it would send everyone into a "REEE" fit. Go to news sites right now and you'll see a ton of trans stuff. Russia is officially not a big deal right now.
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Graham and McCain are purely covering their own asses. You can't vote for a bill hoping it becomes something else when other Senators in your party are only voting for it if it DOESN'T become something else, when the House literally cannot give a guarantee beyond their word before they vote. And words obviously don't matter in DC anymore.
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I thought Scaramucci was a big overacting troll who just overdid things to get attention.
Turns out he's just insane.
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The amount of bull they are trying to feed people "We are voting no unless we are promised that the bill might become better later, not now but later"
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Spicy was right all along.
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I wonder if republicans here are tired of winning yet, or still glad they now have a literal clownshow.
Sidenote, that picture, is that a stock photo or is that actually that sketchymucky guy?
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Spicy was right all along.
That's the scariest part. He seems suddenly "sane", which means all this prior bullshit came from somewhere else.
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On July 28 2017 06:28 Mohdoo wrote:
I think Mooch is going to be gone by the end of the week lmfao
But after he fires all the pros, and only buttlickers remain, why would DJT toss the best buttlicker? The rest of the staff will be imbeciles at policy and DC negotiations. The only remaining quality worth measuring will be how deeply and how thoroughly his staff and get in there and lick that ass.
Some state of the WH. DJT doesn't talk to Mattis anymore (notice how the trans ban didn't make it to the Joint Chiefs? That is proof DJT didn't run it by Mattis). McMaster might as well be CuckMaster at this point thanks to all the Alt-Right pressure on DJT. Priebus is out. Tillerson is on an extended vacation. Sessions isn't on speaking terms with the DJT. That leaves Mooch and Trump family at the top. Kushner is literally killing the Trump Presidency with his terrible calls on firing Comey and firing Sessions, but since he is family Kushner is untouchable. Funnily enough, Mooch and Bannon are at odds of all things. Bannon can't possibly kiss ass like Mooch because Bannon has beliefs, whereas Mooch only knows licking upwards into more power and money (check out his terrible hedge fund of hedge funds that was built on sucking up to actual hedge fund guys).
No way DJT fires his best asskisser when he is down to so few people to talk to.
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On July 28 2017 05:19 Nevuk wrote:So many contradictory reports Show nested quote +But contrary to speculation that the president wants Priebus out, a source close to him told Axios that Trump “feels nothing but sympathy at this point for Reince, whose current state reminds him of the neglected puppies in the viral Sarah McLachlan videos for the Society for the Prevention of Cruelty to Animals.” www.axios.com
since it launched, axios has been pretty reliable. i'm inclined to believe their version of events, though there's a couple things: on the other hand trump could very easily have said both things, or the guy "close to trump" is actually scaramouche or someone who wants to push the narrative.
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On July 28 2017 06:35 Plansix wrote:
Spicy was right all along.
Gotta say, Spicy deserves a ton of praise for working in the conditions he did and trying to not shoot himself in the foot.
When he jumped ship I think people really didn't expect the shitstorm that was coming.
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EPT
