The Trump administration’s delay of the Department of Labor’s fiduciary rule landed with a bang on social media.

White House National Economic Council Director and former Goldman Sachs COO Gary Cohn was trending after he said the Trump administration dislikes the rule because it’s “like putting only healthy food on the menu.”

(Bloomberg News)
President Trump's advisers announced he would delay the fiduciary rule. (Bloomberg News)

Investment entrepreneur and Trump economic adviser Anthony Scaramucci, posted an op-ed column he wrote slamming the rule. On the other hand, former Obama administration officials and their supporters tweeted out the original rationale for the statute.

Advisers weighed in as well, some pointing out that the Obama administration’s six-year rulemaking process had raised public awareness around matters of fiduciary responsibility. Reactions ranged from snark to outrage to applause for President Trump’s order.

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Tobias Salinger

Tobias Salinger

Tobias Salinger is an associate editor for Financial Planning, On Wall Street & Bank Investment Consultant.