I recently had the always-pleasant opportunity to do a virtual sit-down with the oft-quoted Fred Reish for the purposes of – what else? – quoting him often for an article you might be interested in reading (see "Fred Reish Unravels Washington Regs and Explains 401k Plan Sponsor Fiduciary Liability," FiduciaryNews.com, March 10, 2015). Our conversation got me thinking about all that's been happening in Washington these past few weeks. 

We've seen a proverbial one-two punch from our nation's capital. On consecutive days, first the president announces his support for the DOL's new "Conflicts-of-Interest" Rule (nee "Fiduciary Rule"), then the Supreme Court heard the arguments on the Tibble vs. Edison case.

From the look of things, the justices didn't seem too pleased with the defendants. This ire, ironically, was matched by the anger of the Wall Street big boys regarding the DOL's forthcoming proposal.