Saturday, April 1, 2017

I Am Absolutely Stunned by Trump Tweets This A.M. Regarding SEC Nominees, Fiduciary, DOL

Dear Reader:
Please be aware - this post was done on APRIL 1ST, and it was an April Fool's Joke.
Thank you.

April 1, 2017

In his classic early morning Tweet style, President Trump surprised the financial services community with these tweets this morning:

    Withdrawing nomination of SEC Chair. GREAT GUY but ties too close to HUGE Wall Street firms. Will nominate SEC Commissioners that represent THE PEOPLE! 
    04:39 AM - 01 Apr 2017

    Dodd Frank to be repealed. But will require financial advisors to act in BEST INTERESTS of their customers. 
    04:52 AM - 01 Apr 2017

Then, a few hours later, Trump surprised again:

    DOL best interest rule to be studied. My SUPPORTERS want it. Will find way to MAKE IT WORK for THE PEOPLE.
    07:46 AM - 01 Apr 2017

Needless to say, this writer is just absolutely STUNNED by these developments. I profess that I don't know what may come from this possible change of direction.

Will the President lead, instead of just blindly following the Wall Street insiders he surrounded himself with?

Will President Trump actually fulfill his campaign promises to look after the interests of, as he states, "the people" -  and not the monied interests in Washington, D.C.?

Will the President instruct the DOL to go ahead and implement its "Conflict of Interest" (Fiduciary) Rules?

Alas, then I awoke from my morning slumber, and realized that my dream was amiss. Such a wild fantasy could only happen on April Fools Day.

All my best. - Ron

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