found online by Raymond
From libertarian Michael A. LaFerrara at Principled Perspectives:
The Obama Administration dumped new regulations onto the financial industry “that would require financial advisers to serve the best interests of their clients,” according to Politico. On the face of it, this makes no sense. As any merchant knows, the path to sustainable profitability is precisely to “serve the best interests of their clients.”
You don’t have to be an expert to see that this rule to override natural market incentives has nothing to do with serving consumers’ interests. In reality, it’s another government power grab intended to give government officials the power to dictate to consumers what is and is not in their best interests.