{"id":181186,"date":"2016-09-09T17:20:00","date_gmt":"2016-09-09T22:20:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2016\/09\/09\/oh-you-delicate-flower-you\/"},"modified":"2016-09-09T17:20:00","modified_gmt":"2016-09-09T22:20:00","slug":"oh-you-delicate-flower-you","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2016\/09\/09\/oh-you-delicate-flower-you\/","title":{"rendered":"Oh, You Delicate Flower, You"},"content":{"rendered":"

It appears that the parasitic finance class are very upset that Elizabeth Warren does not kiss their ass<\/a>:<\/p>\n

In just three and a half years in the U.S. Senate, Elizabeth Warren has become one of the most polarizing figures in Congress and among the legislators most hated by members of the financial services industry.<\/span>

<\/span>An early proponent of creating the Consumer Financial Protection Bureau<\/a> \u2014 even before she was elected to the Senate \u2014 the 67-year-old former Harvard professor also has emerged as one of the most ardent champions of the Department of Labor’s fiduciary rule<\/a> for retirement accounts. She has been a pit bull at congressional hearings, taking on Wall Street interests at every turn, and has had public run-ins with former Finra chief Richard Ketchum<\/a> and SEC Chairwoman Mary Jo White<\/a>.<\/span>

<\/span>\u201cIt is perfectly legal for some brokers and financial advisers to take kickbacks, prizes or even vacations for selling lousy products to unsuspecting customers,\u201d Ms. Warren said at a congressional forum in March 2015, shortly before the DOL proposed rule was released<\/a>. <\/span>

<\/span>That’s the kind of rhetoric Robert Braglia, president of American Financial & Tax Strategies Inc., a registered investment adviser, rejects.<\/span>

<\/span>\u201cShe’s more anti-business than she is pro-consumer,\u201d he said. \u201cShe’s coming from a place that all \u201cfill-in-the-blank\u201d are bad. Every industry she goes after, she paints with the same broad brush, which is unfair.\u201d<\/span>

<\/span>\u2026\u2026\u2026<\/span>

<\/span>\u201cI live here [in Boston] and can’t name a single human being in my immediate or extended social circles that likes her, has or would vote for her, or who can even say that they don’t loathe her,\u201d Jeremy Cohen, a broker with the Independent Financial Group, wrote in the comments section of an InvestmentNews story the day Ms.Warren took on Mr. Ketchum in a congressional hearing.<\/span>

<\/span>\u2026\u2026\u2026<\/span>

<\/span>\u201cShe’s the bane of most brokers,\u201d said Paul Auslander, director of financial planning at ProVise Management Group. \u201cMost RIAs I talk to \u2026 have disdain for Elizabeth Warren, but they find it hard to argue with the fact that she’s been a champion of this [fiduciary-duty] effort.\u201d<\/span>

<\/span>\u2026\u2026\u2026<\/span>

<\/span>\u201cIf you only see the bad, you’re going to think that all [advisers] are bad,\u201d said Eric Bishoff, chief executive of Bishoff Financial Group. \u201cTo the people in the industry, that’s insulting.\u201d<\/span><\/p><\/blockquote>\n

The financial services industry is designed to reward deception and self dealing.<\/p>\n

Its denizens see themselves as Galtian ubermenschen who defend capitalism against moochers.<\/p>\n

They are the moochers, and they need to get over themselves.<\/p>\n","protected":false},"excerpt":{"rendered":"

It appears that the parasitic finance class are very upset that Elizabeth Warren does not kiss their ass: In just three and a half years in the U.S. Senate, Elizabeth Warren has become one of the most polarizing figures in Congress and among the legislators most hated by members of the financial services industry.An early …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[761,766,777,824],"class_list":["post-181186","post","type-post","status-publish","format-standard","hentry","tag-corruption","tag-evil","tag-finance","tag-wanker"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/181186"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=181186"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/181186\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=181186"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=181186"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=181186"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}