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In today’s edition of The Heartland Daily Podcast, Jesse Hathaway, managing editor of Budget & Tax News speaks with John Berlau. Berlau is a senior fellow at the Competitive Enterprise Institute. Hathaway and Berlau talk about the U.S. Department of Labor’s proposed conflict-of-interest rule, a regulation on retirement investment brokers that would put professional investment advisors out of the reach of millions of investors, and rack up billions of dollars in compliance costs.
Berlau explains that American investors should be trusted to figure out which investment plans are best for them, because they are not children to be infantilized by government regulators. Turf wars between government agencies, he says, lead to Americans getting caught in the crossfire, and people should be allowed to purchase the plans they want.