openly solicited the financial-industry attendants on what SEC rules should be changed to open up working people’s money to hedge funds and private equity.that some retail fund managers have been receiving undisclosed kickbacks from private-equity investments.
The industry has supported the letter on the disputed belief that private-equity investments outperform the stock market at large. George Gerstein, an attorney for the financial industry and co-chief of fiduciary governance at Stradley Ronon, believes that increased private-equity exposure will increase performance of retirement plans, especially as a counterweight to other economic headwinds.
Further, private-equity disclosures lack any standard date or metrics, so its disclosed performance data is inherently misleading,A 401 was designed to allow a worker to select different investments in the employer-provided menu to suite their wants and needs: shorter-term or longer-term growth funds, high or lower risk, smaller- or larger-sized company exposure. But in reality, workers overwhelmingly do not make any changes to their 401 investment lineup, Roper said.
Shockingly, it would also allow any retirement professional to receive third-party payments for their recommendations, so long as they adhered to an undefined “best interest” standard and didn’t “materially” mislead investors. This part of the rule is perhaps akin to a doctor being allowed to take kickbacks in exchange for prescribing certain pharmaceuticals. ScaliaOnce again, investor advocates disagreed.
No surprise there!
This article is EXACTLY why Rolling Stone will be paying BIG MONEY 💰 to Nicholas Sandmann FakeNews
This is such terrible journalism. Comparing PE groups to vultures. Stating all these funds have high and hidden fees. You’d think when you ventured out of your core music industry you’d spend some time making sure you were accurate. This is a poorly written editorial.
That is precisely what happened to three out of four government pension funds here in Puerto Rico. And the three were driven to the ground.
George Carlin warned of exactly this.
Seriously how corrupt are the people in Washington. Where is the outrage from the politicians about the risk to Main Street? Oh right they are in on it to make their donors happy. Washington has and always will be a swamp. There appears to be no bottom.
Again, please stick to the only thing you are good at (music). Terrible writers and clear one sided agenda does not make for good news. Still love the music content though.
Just as an FYI, this is not nearly new to the Trump administration, it's been an ongoing project participated in by politicians of both parties, presidents, governors, for several decades, resulting in the near obliteration of working class retirement in the US
As did Obama, Bush II, Clinton, Bush I, etc. Quit your bullshit.
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