Trust Us, We’re Here To Help You
New government help is on the way. You see that they don't think you are smart enough to manage your own assets so they want to "help."
Can you imagine anyone believing this:
The bureau’s core concern is that many Americans, notably those from the retiring Baby Boom generation, may fall prey to financial scams, according to three people briefed on the CFPB’s deliberations who asked not to be named because the matter is still under discussion.
This line belongs right up there with "Hey little girl, want a piece of candy."
Here is LibertyBlitzkrieg's take (my colorization added):
The Securities and Exchange Commission and the Department of Labor are the main regulators of U.S. retirement savings vehicles and funds. However, the consumer bureau — established by the 2010 Dodd-Frank Act — sees itself as a potential catalyst for promoting a coherent policy across the government, the people said.
Full article here.