Midknight Review -- new and revised: Trump just got rid of a key aspect embedded within the burdensome Dodd/Frank legislation.

Federal court tosses out Obama-era rule requiring financial advisers to act in customers' best interests — A divided federal appeals court on Thursday tossed out an Obama-era Department of Labor (DOL) rule that required financial investment advisers to act in the best interest of their clients.

Editor: This was the basis for the new Consumer Protection Agency embedded in the Dodd/Frank bank reform bill. In fact, Central Planning made it illegal for some banking institutions to offer financial and investment advise, an Elizabeth Warren brain child. The theory was this: most if not all financial advisors are potentially so corrupt that they would give financial advice that would bolster their investment portfolios . . . . .    To avoid this corruption, one had to seek financial advise in places other than investment firms and banking institutions. OF COURSE this was unconstitutional, but since when did the Obama Left believe in constitutional values . . . . . . . . well, except during an election cycle, of course.

Now, when you go back and read the headline, it sounds terrible. I mean, shouldn't financial advisors be required to give "best advice" to a client. Of course, but in lawyer speak, all this did was to open the door to lawsuits arguing that the adviser did not give "best advise" as required by law. Small banks could not afford the risk of multiple lawsuits and, as a consequence, more small lending institutions failed than were created during the Obama Error . . . . . . for the first time in American history.

So what about "best advise?" Look, if your adviser does not give you the best financial advise imaginable, you have an escape . . . . . go to another adviser. If his advise involved fraud, as legally defined, you file a suit with the protection agencies that existed before Warren and her Consumer Protection Agency. Investments always involves risk. No risk? Well, you probably just bought a 10/30 year bond at 2.80% .

You should know that all fines paid to the Warren Protection Agency, went into the Federal Treasury except for a percentage that went to fund global warming concerns and other Progressive related efforts.

Anyway, good riddens to bad rubbish.

The Stated Nonsense from the Left now includes these Progressive goals:

July 2, 2008, Obama had this to say: "We cannot continue to rely only on our military in order to achieve the national security objectives that we've set. We've got to have a civilian national security force that's just as powerful, just as strong, just as well-funded."

MICHELLE OBAMA: "Barack knows that we are going to have to make sacrifices; we are going to have to change our conversation; we're going to have to change our traditions, our history; we're going to have to move into a different place as a nation."

“ . . . . . . they have become a generation of activists possessed with that most American of ideas – that people who love their country can change it.” -- Obama the Radical

On September 30, Van Jones told MSNBC "I think everybody should hold onto your seats. October is going to be the turning point when it comes to the progressive fight back."

Midknight Review -- new and revised

Trump just got rid of a key aspect embedded within the burdensome Dodd/Frank legislation.

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