Department of Labor to ban financial advice from the airwaves?


Anyone out there who might have a clue how the Department of Labor controls what programming we have on the radio or television? Really, we know what this is about. Beginning of the Ministry of Thought Control being granted the purview to eliminate programing by ‘Rule.’ First the airwaves, soon the internet. Follow the link at the bottom of the post if you wish to get into the weeds and the politics of the issue.

Radio stations which carry money-related broadcasts like Dave Ramsey, Clark Howard and others will force the hosts to stay away from individual calls. Even telling an individual or family that it would be a good idea to put away the plastic and get out of debt is technically a form of “financial advice” that ultimately affects their ability to retire comfortably (or at all).

A proposed 33-page rule applying to investment advisers emanating from the Department of Labor would redefine the fiduciary relationship between investment advisers and their clients investing for retirement, which is the predominant objective of most investors. According to the Wall Street Journal, the rule “could be released as soon as this month.”

One side effect of the rule is that it could mark the beginning of the end of financial talk radio and TV broadcasts. Since such programs tend to lean center-right (there are exceptions, including Suze Orman), it seems mighty convenient for the government and its regulatory army that the press, particularly the Associated Press, has paid no visible attention to this apparently imminent rule.

DOL’s rule, once in effect, would require advisers to act in their clients’ “best interests,” a stricter standard than the current requirement that they place their clients in “suitable” investments.

More at Newsbusters

29 Responses to “Department of Labor to ban financial advice from the airwaves?”

  1. My Article Read (3-8-2016) – My Daily Musing Says:

    […] Department of Labor to ban financial advice from the airwaves? […]

    Like

  2. Steve Dennis Says:

    Good find, I haven’t seen this anywhere! What if the DOL doing regulating the airwaves?! And what is the reasoning they are using to justify this? This is just the next prong in the attack on free speech on the radio and we know it will eventually spill over into the internet.

    Like

    • bunkerville Says:

      As Mustang commented: Followed the link to the proposed rule; typical bureaucratic nonsense. If you wear your x-ray glasses, you can see that the sponsors of this rule within the Employee Benefits Security Administration (Mr. Chope and Mr. Wong) are concerned that employees, beneficiaries of federal programs, and anything that goes bump in the night may not be capable of rational thought and therefore wish to protect America from talk radio hosts.
      Just the beginning Steve…. of course there will be lawsuits that people got bad info,,, next talk radio to go. You betcha.

      Like

  3. Angel Says:

    if we go bankrupt..more power to the corrupt officials! ARGG! xoxoxox

    Liked by 1 person

    • bunkerville Says:

      Better for people not to know what their government is up to these days.🙂

      Like

  4. mcnorman Says:

    Isn’t it amazing? When we were young, we tried to do everything that we could to not have outstanding bills. The world of today wants us enslaved to the money wheel.

    Liked by 2 people

    • the unit Says:

      Time to install a Hurst floor shifter again like in the 50’s and leave political misery behind. Spin a wheel not a MSM candidate’s story. lol

      Liked by 2 people

      • mcnorman Says:

        HAHAHAHA

        Floor shifter, I don’t think the kiddies would know what that means.

        Like

    • bunkerville Says:

      The more debt the better these days

      Like

      • mcnorman Says:

        I read somewhere that it makes perfect sense to enslave the population this way in order to go to a cashless society aka serfdom.

        Liked by 1 person

      • the unit Says:

        Mc I read that debtor’s prisons are making a come back. What amount of the national debt does each of us owe? Going to take a big FEMA camp.
        As to cashless society. I think my daughter is Cashless Czar. Lost job a while ago, credit cards revoked, hits Dad up when needs something. I stay pretty much cashless.
        Nah, she sweet Daddies girl…she went on then and got RN degree and passed state license exam in December. No job yet as most places want experience.
        Has interviews coming up. And soon I’ll be having heart attack to practice on. 🙂 And yeah, I’m too old to have a daughter this young (29).

        Liked by 1 person

      • bunkerville Says:

        Good for her and you. A proud Papa.

        Liked by 1 person

      • mcnorman Says:

        She’ll do fine. An RN is a paying job as opposed to social movement engineering / basket weaving poo degree. Personally, I think that is what the asshat in the WH actually received but I digress. BTW, think of that degree as an investment since ogarbagecare will allow you to skype your symptoms in to the local physician assistant, maybe.

        I have one myself that is about the same age. Got huge loans to pay off now. Sitting att the 1% and as angry as you can imagine. Lives like a pauper trying to pay off the loans and the taxes. Eventually, the loans will be gone. Being frugal never bothered the kid much. It is the standard at home. I think that the lesson about how “free lunchers” in third grade not only get free lunch, but who’s footing the tab made the work ethic stick. I always worked two to three jobs in order to make the private school happen. It’s paid off.

        Liked by 2 people

      • bunkerville Says:

        I worked my way through college with two jobs, took me 8 years plus then a Masters. Came out debt free… Now I appreciate what I sacrificed.

        Liked by 2 people

      • bunkerville Says:

        On our way

        Like

  5. geeez2014 Says:

    Another great example that the Left doesn’t have any confidence in the American people, particularly conservatives. This is ADVICE, nobody’s telling them what to do…Americans can think (okay, maybe not libs, but…) !
    LEAVE US ALONE!!!

    Liked by 2 people

    • bunkerville Says:

      As I commented to Mustang –Better to cut off anyone who no doubt may alert us to the pending disaster of a bankrupt Nation. And of course we must protect our special little snowflakes.

      Liked by 1 person

  6. Mustang Says:

    Followed the link to the proposed rule; typical bureaucratic nonsense. If you wear your x-ray glasses, you can see that the sponsors of this rule within the Employee Benefits Security Administration (Mr. Chope and Mr. Wong) are concerned that employees, beneficiaries of federal programs, and anything that goes bump in the night may not be capable of rational thought and therefore wish to protect America from talk radio hosts. I’m thinking now that it is entirely possible that Mr. Chope and Mr. Wong are caped crusaders; lucky us.

    As Peter suggests, if the Pig in a Pantsuit gets elected, “We aint seen nutt’in yet.”

    Liked by 2 people

    • bunkerville Says:

      I struggled as well in deciphering how these fine fellows got themselves the authority to insure that us “little people” would not be lead astray. Forget that the Federal Government is guaranteeing that there will be no happy ending to our retirements. Better to cut off anyone who no doubt may alert us to the pending disaster of a bankrupt Nation.

      Liked by 2 people

  7. petermc3 Says:

    Should we choose the commie hag to lead us on the road to perdition this new ruling will be only the start of wholesale censorship. How long before “See the USA in your Chevrolet” is deemed to be taboo financial advice?

    Liked by 2 people

    • bunkerville Says:

      As Bernie said, why do we need 19 types of deoderants? One car, one color, we will simply be automatons to the NWO.

      Liked by 1 person

    • the unit Says:

      …or maybe a mandate.

      Liked by 1 person

  8. Department of Labor to ban financial advice from the airwaves? | Rifleman III Journal Says:

    […] Source: Department of Labor to ban financial advice from the airwaves? […]

    Liked by 1 person

    • bunkerville Says:

      Thanks again,

      Like

  9. Always On Watch Says:

    More of boiling the frog.

    Are Americans paying attention? Most are not, IMO.

    Liked by 3 people

    • bunkerville Says:

      No one is paying attention. Why not the Labor Dept under the dark of night commence the first salvo?

      Like

    • Mustang Says:

      I have not heard a single GOP candidate proclaim an end to this madness nor vow to destroy 99.9% of all federal election in his first six months in office … bastards.

      Liked by 1 person

      • Mustang Says:

        My keyboard is stupid. I typed “federal regulation” but “election” came out. I apologize.

        Like

      • petermc3 Says:

        …figured as much 😎

        Like


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