Obama: New Dept. of Labor Regulations on Retirement Advisers Will Protect Middle Class

Hi everybody In America ░░░░░░░░ believe that a lifetime ░░░░░░░░ hard work and responsibility ░░░░░░░░ be rewarded with a ░░░░░░░░ at a secure dignified ░░░░░░░░ It s one of ░░░░░░░░ critical components of middle ░░░░░░░░ life and this week ░░░░░░░░ took new steps to ░░░░░░░░ it Six years after ░░░░░░░░ crisis that shook a ░░░░░░░░ of people s faith ░░░░░░░░ a secure retirement our ░░░░░░░░ is steadily growing Last ░░░░░░░░ was the best year ░░░░░░░░ job growth since the ░░░░░░░░ All told over the ░░░░░░░░ five years the private ░░░░░░░░ has added nearly 12 ░░░░░░░░ new jobs And since ░░░░░░░░ took office the stock ░░░░░░░░ has more than doubled ░░░░░░░░ the 401 k s ░░░░░░░░ millions of families But ░░░░░░░░ we ve come a ░░░░░░░░ way we ve got ░░░░░░░░ work to do to ░░░░░░░░ sure that our recovery ░░░░░░░░ more Americans not just ░░░░░░░░ at the top That ░░░░░░░░ what middle class economics ░░░░░░░░ all about the idea ░░░░░░░░ this country does best ░░░░░░░░ everyone gets their fair ░░░░░░░░ everybody does their fair ░░░░░░░░ and everyone plays by ░░░░░░░░ same set of rules ░░░░░░░░ last part making sure ░░░░░░░░ plays by the same ░░░░░░░░ of rules is why ░░░░░░░░ passed historic Wall Street ░░░░░░░░ and a Credit Card ░░░░░░░░ of Rights It s ░░░░░░░░ we created a new ░░░░░░░░ watchdog agency And it ░░░░░░░░ why we re taking ░░░░░░░░ action to protect hardworking ░░░░░░░░ retirement security If you ░░░░░░░░ working hard and putting ░░░░░░░░ money you should have ░░░░░░░░ peace of mind that ░░░░░░░░ financial advice you re ░░░░░░░░ is sound and that ░░░░░░░░ investments are protected But ░░░░░░░░ now there are no ░░░░░░░░ of the road Many ░░░░░░░░ advisers put their clients ░░░░░░░░ first but some financial ░░░░░░░░ get backdoor payments and ░░░░░░░░ fees in exchange for ░░░░░░░░ people into bad investments ░░░░░░░░ told bad advice that ░░░░░░░░ from these conflicts of ░░░░░░░░ costs middle class and ░░░░░░░░ families about 17 billion ░░░░░░░░ year This week I ░░░░░░░░ on the Department of ░░░░░░░░ to change that to ░░░░░░░░ the rules and require ░░░░░░░░ retirement advisers put the ░░░░░░░░ interests of their clients ░░░░░░░░ their own financial interests ░░░░░░░░ class families cannot afford ░░░░░░░░ lose their hard earned ░░░░░░░░ after a lifetime of ░░░░░░░░ They deserve to be ░░░░░░░░ with fairness and respect ░░░░░░░░ that s what this ░░░░░░░░ would do While many ░░░░░░░░ advisers support these basic ░░░░░░░░ to prevent abuse I ░░░░░░░░ some special interests will ░░░░░░░░ this with everything they ░░░░░░░░ got But while we ░░░░░░░░ different perspectives and ideas ░░░░░░░░ how to move forward ░░░░░░░░ I won t accept ░░░░░░░░ the notion that there ░░░░░░░░ nothing we can do ░░░░░░░░ make sure that hard ░░░░░░░░ responsible Americans who scrimp ░░░░░░░░ save can retire with ░░░░░░░░ and dignity We re ░░░░░░░░ to keep pushing for ░░░░░░░░ rule because it s ░░░░░░░░ right thing to do ░░░░░░░░ our workers and for ░░░░░░░░ country The strength of ░░░░░░░░ economy rests on whether ░░░░░░░░ working families can not ░░░░░░░░ share in America s ░░░░░░░░ but can also contribute ░░░░░░░░ America s success And ░░░░░░░░ s what I will ░░░░░░░░ stop fighting for an ░░░░░░░░ where everyone who works ░░░░░░░░ has the chance to ░░░░░░░░ ahead Thanks and have ░░░░░░░░ great weekend.