One issue is even if there are no abuses the industry cannot handle having a best interest standard applied to these recommendations. Thats what the dol is doing. Its almost the standard that is applied to broker dealers under the suitability standard. The recommendation must be consistent and you look under the hood and it turns out these are some of the worst violations that you can find. In one case the court said this was egregious misconduct. These are cases if many if not most broker deals. The unsuitable recommendations are accompanied by other Violations Including failure to supervise, churning, misrepresentations or omissions and unauthorized trading. The suitability standard works. Lets not make believe that its actually serving clients best interest. Youve said the current rules support a race to the bottom. Why do you think they support a race to the bottom currently . I think hearing the panelist discuss all the legalese involved here its a well documented fact that its ve
Youre watching American History tv on cspan3. Follow us on Twitter Twitter cspanhistory for our programs and latest history news. Theres more on American History tvs Facebook Page including video of recent programs and viewer comments thats at facebook. Com cspanhistory. This summer,booktv covers book festivals from around the country and this weekend, were live at book expo america in new york city for the Publishing Industry showcases their upcoming books. In the beginning of june, live for the Chicago Tribune lit fest and the indepth program with Lawrence Wright and your phone calls. Near the end of june watch for the annual roosevelt reading festival from the franklin d. Vet president ial library. In july were live at the harlem book fair the nations flag ship africanamerican literary event with interviews and panel discussions, and beginning in september, live from the Nations Capital for the National Book festival celebrating its 15th year. Thats some of the events this summer on
And determine whether this transaction is in the public interest. Hosting joining us on the communicators host joining us on the communicators this week is Gene Kimmelman and harold furchtgottroth. Thank you all for being here. [captions Copyright National cable satellite corp. 2015] [captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. Visit ncicap. Org] cspan, brought to you as a Public Service by your local cable or satellite provider. This sunday night on first ladies, influence and image, we will look into the personal lives of three first ladies. Sarah polk had a very strong belief in politics and often helped her husband make political decisions. Market taylor was opposed to her husbands nomination. As a teacher, Abigail Fillmore was the first president ial life to have a profession. She began to establish the First White House library. This sunday night at 8 p. M. Eastern on cspans original series, first ladies in
There is something profoundly wrong when one family owns more wealth in this country than the bottom 130 million americans. This grotesque level of inequality is immoral, it is bad economics, it is unsustainable. This type of rigged economy is not what america is supposed to be about. This has got to change, and as your president , together we are going to change it. [cheers and applause] sen. Sanders but it is not just wealth inequality it is a tragic reality that in the last forty years and great middle for the last 40 years the great middle class of our country, once the envy of the entire world, has been disappearing. Despite its exploding technology and increased worker productivity, the median Family Income is almost 5,000 less today than it was in 1999. In our great state and all over this country, people are working not just one job, two jobs three jobs, trying to cobble together an income and some health care. That is not acceptable, we can and must do better. [cheers and appl
Homeless. President obama is in italy at this hour, and he met earlier with pope francis at the vatican, and now hes meeting with the italian Prime Minister, and the two plan to hold a News Conference shortly. Well bring it to you live. Meanwhile, Mike Viqueira is there. And the president is making news today regarding the nsa. Thats right, the nsa program, you remember back in january, the president proposed changing that metadata collection program, a socalled 215, named after a section of the law that enumerates that the Intelligence Community can collect phone records from virtually every american and keep them for five years, at least thats how the Intelligence Community interpret today. Obviously a lot of people disagree. With the controversy around Edward Snowden last year, the president finally in june making that speech, and the department of justice promising to look at it and today announcing his findings, hes going to end the metadata collection of phone records, and hes go