eric bullard, good to have you with us tonight. thanks so much. stomp senator orren hatch is trying to squeeze every penny out of america's working poor. but he's condemning obama for wanting to raise the tax on millionaires. only one calcium supplement does that in one daily dose. new citracal slow release... continuously releases calcium plus d for the efficient absorption my body needs. citracal. it's schwab at your fingertips wherever, whenever you want. one log in lets you monitor all of your balances and transfer between accounts, so your money can move as fast as you do. check out your portfolio, track the market with live updates. and execute trades anywhere and anytime the inspiration hits you. even deposit checks right from your phone. just take a picture, hit deposit and you're done. open an account today and put schwab mobile to work for you. >>> don't forget to answer tonight's text question: should democrats vote for entitlement cuts in exchange for raising taxes? text a for yes, text b for no to 622639, and you could always go to ed

eric bullard, good to have you with us tonight. thanks so much. stomp senator orren hatch is trying to squeeze every penny out of america's working poor. but he's condemning obama for wanting to raise the tax on millionaires. accounts, so your money can move as fast as you do. check out your portfolio, track the market with live updates. and execute trades anywhere and anytime the inspiration hits you. even deposit checks right from your phone. just take a picture, hit deposit and you're done. open an account today and put schwab mobile to work for you. you can do this... get the ball. get the ball, girl. hmmm, you can't do that. but you can do this. it's the simple things. scientifically formulated bengay pain relief + massage with penetrating nubs gives you the targeted relief of a massage plus the powerful, long-lasting pain relief of bengay. bengay pain relief + massage. visit bengay.com/relief for a $3.00 coupon. love the nubs! >>> don't forget to answer tonight's text question: should democrats vote for entitlement cuts in exchange for raisi

professor bullard, in if a recent op-ed opinion piece, you wrote that the department of labor's fiduciary duty proposal as it related to 401(k)s and pension plans missed the mark. i think that was your word. can you elaborate how labor's rule is flawed, and discuss for us how you would proceed or what action we should take. >> the, the proposal, i think, is right on the mark in the sense that the use of the term, "fiduciary," has been unnaturally estimate limited by the department for decades. beyond that, however, the way that the department approached the problem was to put the cart before the horse and expand a fiduciary definition that very many people in the industry would not be able to conform to in a reasonable period of time. and like the investment company act, actually, erisa -- which is the statute they're interpreting -- has a kind of shadow exemptions. .. at the same time they put the cart before the horse, created an exception to the prohibited transaction deceptions of prohibitions that completely swallow the rule and creates but no as a seller exception to say because i a

bullard.as an economist and former mutual fund executive who is now a professor at harvard university, and i request unanimous consent to place this article in the record. so granted? may i put it -- thank you. pozen wrote that money market mutual funds that invest in short-term tax-exempt instruments issued by states and municipalities offer investors an opportunity to invest in tax-exempt securities that banks cannot offer. if regulators decide that money market funds can't maintain a stable net asset value of a dollar, what would the impact be on the availability of these types of investments for consumers? >> when we've talked to investors about this issue, they've told us, in essence, if it's not a dollar in and a dollar out, you don't get my dollar. that's true across the board, but this is a particularly compelling case that you cite because in the municipal finance area there's -- it's not apparent who could pick up the shortfall in funding if you didn't have tax-exempt money market fu

eric bullard of media matters joins me to break it all down.inal words to say about the ex-fox host next. >>> after 29 months of fear mongering and tears, glenn beck is finished at fox news. today, beck spent most of his final show taking hi viewers on a walk down memory lane, celebrating 2 1/2 years of anti-progressive propaganda. >> we've really done some amazing things together. >> 2 1/2 years ago when this program first game on the air, did you even know what progressives really were? i mean, decides car insurance? what was that? dietrich bohnhoffer. andrew jackson. the road to serfdom. >> he left out a lot more of his memorable tv moments like take a look at a few of these. >> this president, i think, has exposed himself as a guy over and over and over again who has a deep-seeded hatred for white people or the white culture. >> i feel like president obama is saying you know what, i've got the $3.5 trillion budget we're doing. is this cold? i tonight am going to take you from french fries to riots. nazi tactics are progressive tactics. why

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