There's a whole slew of misleading information circulating through the legislative halls of Washington, the articles of normally objective journalists and the scintillating pixels of the social media sphere.
That this information is so one-sided makes it hard to disbelieve. That it is so pervasive makes it difficult to discredit. That it is so untrue makes it hard to understand how it's gotten past the desk of so many normally reliable editors.
Earlier this summer, it seemed assured the DOL's new fiduciary rule would include the long-neglected ERISA class of IRA investors (see "Momentum Builds to Place IRAs Under Fiduciary Umbrella," Fiduciary News, July 5, 2011). Then, with the publication of industry sponsored "research," the big finance PR machine went all out. Soon, politicians of both parties (hmm, has anyone found out how much insurance company PAC money these voices have received?) began throwing bombastic accusations at the DOL's Phyllis Borzi. Next, we started seeing op-eds and articles echoing the claims of the lobbyists, most recently in this week's Washington Times.
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Christopher Carosa
Chris Carosa has been writing a weekly article and monthly column for BenefitsPRO online and BenefitsPRO Magazine since 2011 and is a nationally recognized award-winning writer, researcher and speaker. He’s written seven books, including From Cradle to Retire: The Child IRA; Hey! What’s My Number? – How to Increase the Odds You Will Retire in Comfort; A Pizza The Action: Everything I Ever Learned About Business I Learned By Working in a Pizza Stand at the Erie County Fair; and the widely acclaimed 401(k) Fiduciary Solutions. Carosa is also Chief Contributing Editor of the authoritative trade journal FiduciaryNews.com and publisher of the Mendon-Honeoye Falls-Lima Sentinel, a weekly community newspaper he founded in 1989. Currently serving as President of the National Society of Newspaper Columnists and with more than 1,000 articles published in various publications, he appears regularly in the national media. A “parallel” entrepreneur, he actively runs a handful of businesses, including a small boutique investment adviser, providing hands-on experience for his writing. A trained astrophysicist, he also holds an MBA and has been designated a Certified Trust and Financial Advisor. Share your thoughts and story ideas with him through Facebook (https://www.facebook.com/christophercarosa/)and Twitter (https://twitter.com/ChrisCarosa).
