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Wednesday, October 19, 2016

The "Dred Scott" Angle on ERISA

Presented without comment (after being passed along to me by my friend John R.), reported to be said by Skybridge's Anthony Scaramucci, an adviser to Donald J. Trump's campaign, in reference to the DOL's "investment advice" regs.:

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We're going to repeal it.  It could be the dumbest decision to come out of the U.S. government in the last 50 to 60 years.
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It's about like the Dred Scott decision.
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The left-leaning Department of Labor has made a decision to discriminate against a class of people who [sic] they deem to be adding no value.  They are judging what should happen in a free market and attempting to put financial advisers out of work.  When market forces cyclically adjust again, they will be having congressional hearings about how big the mistake was to do this.
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