I was lucky. My parents paid for my college education. Back in the olden days, when I was a young ‘un, that was indeed possible for middle class families. Hell, when I was a young ‘un, there was still a “middle class.”
I got a letter today asking me to contribute to some memorial for Ronald Reagan. I shall answer it with an envelope full of subscription cards for The Nation, hoping that the senders will read it and learn something.
This issue — the financial-services business’s habit of exploiting rather then helping people who are preparing for retirement — is why the Obama administration in April enacted so-called “fiduciary” regulations for financial planners and advisers.
These rules will require the financial-services industry — for the first time — to conduct business “in the best interests of their clients.”
You thought that already was the obligation. It is not.