"The Labor Department, after years of battling Wall Street and the insurance industry, issued new regulations on Wednesday that will require financial advisers and brokers handling individual retirement and 401(k) accounts to act in the best interests of their clients."
--"U.S. Reins In Advice-Givers on Retirement"
What a concept! Financial advisers legally required to provide advice that serves the people to whom the advice is given!
This could start a societal revolution! Imagine if professionals everywhere were required to do the jobs for which they have been hired! No more firefighters committing rampant acts of arson, nor librarians ferociously guarding stacks of books from the depredations of hordes of eager borrowers! Dare we dream of a world in which doctors no longer walk around decapitating their patients? Or where bus drivers don't deposit passengers at the base of impassable mountain trails? (Well, except for the Greyhound Impassable Trail Limited, for which such behavior would be thoroughly acceptable.)
Reading this news, I even find myself optimistic that the Senate will do its job when it comes to, say, confirming judicial nominees. Although that's probably too fantastical a concept to be seriously considered.
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