Eugene Scalia (the Trump nominee for Labor Secretary) has spent his career fighting for the interests of financial firms, corporate executives, and shareholders rather than the interests of working people.
He actually argued in court against the “fiduciary” rule, the Department of Labor rule that would have simply required retirement advisers to work in the best interest of their clients – outlawing common practices such as financial advisers steering retirement savers toward investments that provide a good commission, but a lower rate of return.
This is another fox-guarding-the-hen house selection that defines the Trump cabinet.
Senior Economist and Director of Policy
Economic Policy Institute