Supreme Court Ruling

Just finished reading an article by InfoWars in regards to a Supreme Court ruling that could lead to  more governmental control over private pension funds and those who manage them. Here's an excerpt from the article with quotes by Economist, Martin Armstrong from the article:

"According to Armstrong, the outcome of Tibble v. Edison, which found that employers have a duty to protect their workers’ 401(k) plans from mutual funds that perform poorly, will grease the skids for the feds to seize private funds and prosecute companies who manage mutual funds badly"

“Between the court ruling and the Obama administration’s push for stronger fiduciary rules,” the developments send a “strong message that government can much easier seize the pension fund management industry of course to “protect the consumer,” writes Armstrong, warning that the ruling, “sets the stage to JUSTIFY government seizure of private pension funds to protect pensioners,” when the economy gets “messy".

“This fits perfectly just in time for the Obama administration’s next assault as they prepare a landmark change of its own by issuing rules requiring that financial advisers put the interest of customers ahead of their own,” writes Armstrong. “This creates a very gray area wide enough to justify public seizure of pension funds under management.”
 

 This is scary stuff and will affect millions. We're talking unions, government workers and anyone who is fortunate enough to work at a company that provides them with a retirement pension. But it'll go further than that. It'll hurt many aspects of the financial industry and have a ripple affect to further cripple our already depressed economy. Next up: Something positive, I promise!