7
   

Reasons to not want Hillary in '24

 
 
edgarblythe
 
  0  
Reply Mon 24 Jan, 2022 10:12 am
@bobsal u1553115,
The sex charges should be addressed, but have nothing to do with his whistleblowers activity. To use those charges to bolster the argument over whistleblowing is fraudulent and vindictive.
0 Replies
 
izzythepush
 
  1  
Reply Mon 24 Jan, 2022 10:56 am
There are similarities with the case of Gary McKinnon a young man with Aspergers who spent years fighting extradition before Theresa May did the right thing and blocked it.

What was very disturbing in that case was the difference between the two jurisdictions. Had he been tried over here and found guilty chances are he would have had a non custodial sentence, or if he had gone to prison his sentence would have been measured in months not years. American politicians were appearing on the news boasting about sending him down for life, in an American prison.

He was looking for evidence of UFOs, nobody has disputed his version of events at all. He is no threat, if anything he's a likely asset,anyone who can hack into a top level system like the Pentagon shouldn't be hounded in the courses and threatened with extradition. They should be recruited.

It's all very imperial, America tries to impose its laws on the rest of us while its operatives kill our citizens and then hightail it back to America without facing any charges.

There is a feeling of double standards.
edgarblythe
 
  0  
Reply Mon 24 Jan, 2022 01:20 pm
https://www.cato.org/commentary/americas-ukraine-hypocrisy
Ukrainian president Viktor Yanukovych was not an admirable character. After his election in 2010, he used patronage and other instruments of state power in a flagrant fashion to the advantage of his political party. That high‐​handed behavior and legendary corruption alienated large portions of Ukraine’s population. As the Ukrainian economy languished and fell farther and farther behind those of Poland and other East European neighbors that had implemented significant market‐​oriented reforms, public anger at Yanukovych mounted. When he rejected the European Union’s terms for an association agreement in late 2013, in favor of a Russian offer, angry demonstrators filled Kiev’s Independence Square, known as the Maidan, as well as sites in other cities.

Despite his leadership defects and character flaws, Yanukovych had been duly elected in balloting that international observers considered reasonably free and fair—about the best standard one can hope for outside the mature Western democracies. A decent respect for democratic institutions and procedures meant that he ought to be able to serve out his lawful term as president, which would end in 2016.

The extent of the Obama administration’s meddling in Ukraine’s politics was breathtaking.

Neither the domestic opposition nor Washington and its European Union allies behaved in that fashion. Instead, Western leaders made it clear that they supported the efforts of demonstrators to force Yanukovych to reverse course and approve the EU agreement or, if he would not do so, to remove the president before his term expired. Sen. John McCain (R‑AZ), the ranking Republican on the Senate Armed Services Committee, went to Kiev to show solidarity with the Euromaidan activists. McCain dined with opposition leaders, including members of the ultra right‐​wing Svoboda Party, and later appeared on stage in Maidan Square during a mass rally. He stood shoulder to shoulder with Svoboda leader Oleg Tyagnibok.

But McCain’s actions were a model of diplomatic restraint compared to the conduct of Victoria Nuland, the assistant secretary of state for European and Eurasian Affairs. As Ukraine’s political crisis deepened, Nuland and her subordinates became more brazen in favoring the anti‐​Yanukovych demonstrators. Nuland noted in a speech to the U.S.-Ukraine Foundation on December 13, 2013, that she had traveled to Ukraine three times in the weeks following the start of the demonstrations. Visiting the Maidan on December 5, she handed out cookies to demonstrators and expressed support for their cause.

The extent of the Obama administration’s meddling in Ukraine’s politics was breathtaking. Russian intelligence intercepted and leaked to the international media a Nuland telephone call in which she and U.S. ambassador to Ukraine Geoffey Pyatt discussed in detail their preferences for specific personnel in a post‐​Yanukovych government. The U.S‑favored candidates included Arseniy Yatsenyuk, the man who became prime minister once Yanukovych was ousted from power. During the telephone call, Nuland stated enthusiastically that “Yats is the guy” who would do the best job.

Nuland and Pyatt were engaged in such planning at a time when Yanukovych was still Ukraine’s lawful president. It was startling to have diplomatic representatives of a foreign country—and a country that routinely touts the need to respect democratic processes and the sovereignty of other nations—to be scheming about removing an elected government and replacing it with officials meriting U.S. approval.

Washington’s conduct not only constituted meddling, it bordered on micromanagement. At one point, Pyatt mentioned the complex dynamic among the three principal opposition leaders, Yatsenyuk, Oleh Tyahnybok, and Vitali Klitschko. Both Pyatt and Nuland wanted to keep Tyahnybok and Klitschko out of an interim government. In the former case, they worried about his extremist ties; in the latter, they seemed to want him to wait and make a bid for office on a longer‐​term basis. Nuland stated that “I don’t think Klitsch should go into the government. I don’t think it’s necessary.” She added that what Yatseniuk needed “is Klitsch and Tyanhybok on the outside.”

The two diplomats also were prepared to escalate the already extensive U.S. involvement in Ukraine’s political turbulence. Pyatt stated bluntly that “we want to try to get somebody with an international personality to come out here and help to midwife this thing [the political transition].” Nuland clearly had Vice President Joe Biden in mind for that role. Noting that the vice president’s national security adviser was in direct contact with her, Nuland related that she told him “probably tomorrow for an atta‐​boy and to get the details to stick. So Biden’s willing.”

Both the Obama administration and most of the American news media portrayed the Euromaidan Revolution as a spontaneous, popular uprising against a corrupt and brutal government.

A February 24, 2014, Washington Post editorial celebrated the Maidan demonstrators and their successful campaign to overthrow Yanukovych. The “moves were democratic,” the Washington Post concluded, and “Kiev is now controlled by pro‐​Western parties.”

It was a grotesque distortion to portray the events in Ukraine as a purely indigenous, popular uprising. The Nuland‐​Pyatt telephone conversation and other actions confirm that the United States was considerably more than a passive observer to the turbulence. Instead, U.S. officials were blatantly meddling in Ukraine. Such conduct was utterly improper. The United States had no right to try to orchestrate political outcomes in another country—especially one on the border of another great power. It is no wonder that Russia reacted badly to the unconstitutional ouster of an elected, pro‐​Russian government—an ouster that occurred not only with Washington’s blessing, but apparently with its assistance.

That episode, as well as earlier ones involving Italy, France and other democratic countries, should be kept in mind the next time U.S. political leaders or the media publicly fume about Russia’s apparent interference in America’s 2016 elections. One can legitimately condemn some aspects of Moscow’s behavior, but the force of America’s moral outrage is vitiated by the stench of U.S. hypocrisy.
hightor
 
  1  
Reply Mon 24 Jan, 2022 02:45 pm
@edgarblythe,
It's interesting that the author completely ignores the expansion of NATO during the Clinton and both Bush administrations which set the stage for the Russia/Ukraine confrontation.
edgarblythe
 
  -1  
Reply Mon 24 Jan, 2022 02:47 pm
@hightor,
Excuses, excuses.
hightor
 
  1  
Reply Mon 24 Jan, 2022 03:36 pm
@edgarblythe,
Quote:
Excuses, excuses.

Yeah, I wondered that as well – his memory doesn't seem to reach back before 2013.

Quote:
U.S. Secretary of State James Baker’s famous “not one inch eastward” assurance about NATO expansion in his meeting with Soviet leader Mikhail Gorbachev on February 9, 1990, was part of a cascade of assurances about Soviet security given by Western leaders to Gorbachev and other Soviet officials throughout the process of German unification in 1990 and on into 1991, according to declassified U.S., Soviet, German, British and French documents posted today by the National Security Archive at George Washington University

The documents show that multiple national leaders were considering and rejecting Central and Eastern European membership in NATO as of early 1990 and through 1991, that discussions of NATO in the context of German unification negotiations in 1990 were not at all narrowly limited to the status of East German territory, and that subsequent Soviet and Russian complaints about being misled about NATO expansion were founded in written contemporaneous memcons and telcons at the highest levels.

The documents reinforce former CIA Director Robert Gates’s criticism of “pressing ahead with expansion of NATO eastward [in the 1990s], when Gorbachev and others were led to believe that wouldn’t happen.”[1] The key phrase, buttressed by the documents, is “led to believe.”

President George H.W. Bush had assured Gorbachev during the Malta summit in December 1989 that the U.S. would not take advantage (“I have not jumped up and down on the Berlin Wall”) of the revolutions in Eastern Europe to harm Soviet interests; but neither Bush nor Gorbachev at that point (or for that matter, West German Chancellor Helmut Kohl) expected so soon the collapse of East Germany or the speed of German unification.[2]

The first concrete assurances by Western leaders on NATO began on January 31, 1990, when West German Foreign Minister Hans-Dietrich Genscher opened the bidding with a major public speech at Tutzing, in Bavaria, on German unification. The U.S. Embassy in Bonn (see Document 1) informed Washington that Genscher made clear “that the changes in Eastern Europe and the German unification process must not lead to an ‘impairment of Soviet security interests.’ Therefore, NATO should rule out an ‘expansion of its territory towards the east, i.e. moving it closer to the Soviet borders.'” The Bonn cable also noted Genscher’s proposal to leave the East German territory out of NATO military structures even in a unified Germany in NATO.[3]

This latter idea of special status for the GDR territory was codified in the final German unification treaty signed on September 12, 1990, by the Two-Plus-Four foreign ministers (see Document 25). The former idea about “closer to the Soviet borders” is written down not in treaties but in multiple memoranda of conversation between the Soviets and the highest-level Western interlocutors (Genscher, Kohl, Baker, Gates, Bush, Mitterrand, Thatcher, Major, Woerner, and others) offering assurances throughout 1990 and into 1991 about protecting Soviet security interests and including the USSR in new European security structures. The two issues were related but not the same. Subsequent analysis sometimes conflated the two and argued that the discussion did not involve all of Europe. The documents published below show clearly that it did.

The “Tutzing formula” immediately became the center of a flurry of important diplomatic discussions over the next 10 days in 1990, leading to the crucial February 10, 1990, meeting in Moscow between Kohl and Gorbachev when the West German leader achieved Soviet assent in principle to German unification in NATO, as long as NATO did not expand to the east. The Soviets would need much more time to work with their domestic opinion (and financial aid from the West Germans) before formally signing the deal in September 1990.

The conversations before Kohl’s assurance involved explicit discussion of NATO expansion, the Central and East European countries, and how to convince the Soviets to accept unification. For example, on February 6, 1990, when Genscher met with British Foreign Minister Douglas Hurd, the British record showed Genscher saying, “The Russians must have some assurance that if, for example, the Polish Government left the Warsaw Pact one day, they would not join NATO the next.” (See Document 2)

Having met with Genscher on his way into discussions with the Soviets, Baker repeated exactly the Genscher formulation in his meeting with Foreign Minister Eduard Shevardnadze on February 9, 1990, (see Document 4); and even more importantly, face to face with Gorbachev.

Not once, but three times, Baker tried out the “not one inch eastward” formula with Gorbachev in the February 9, 1990, meeting. He agreed with Gorbachev’s statement in response to the assurances that “NATO expansion is unacceptable.” Baker assured Gorbachev that “neither the President nor I intend to extract any unilateral advantages from the processes that are taking place,” and that the Americans understood that “not only for the Soviet Union but for other European countries as well it is important to have guarantees that if the United States keeps its presence in Germany within the framework of NATO, not an inch of NATO’s present military jurisdiction will spread in an eastern direction.” (See Document 6)

mltoday
0 Replies
 
edgarblythe
 
  0  
Reply Mon 24 Jan, 2022 03:50 pm
If you are saying that makes Obama's actions defensible, I don't see how.
bobsal u1553115
 
  1  
Reply Mon 24 Jan, 2022 05:09 pm
@izzythepush,
I've read about that and it seemed to me that his would have much more likely to have happened here in the US. The FBI after bobbling the chance to break up Sept 11 before it happened, went out their way to gin up "terrorist" plots basically entrapping and recruiting unwilling "plotters". There have been 10s of damaged and marginal people imprisoned over fake plots with dummy weapons.
hightor
 
  1  
Reply Tue 25 Jan, 2022 05:04 am
@edgarblythe,
Quote:
If you are saying that makes Obama's actions defensible, I don't see how.

That's not what I'm saying, at all. I'm saying that the author makes it seem like the whole Ukranian crisis began in 2013, essentially excusing the Clinton and Bush (I&II) administrations. No one needs to excuse or defend anyone but I thought the right-leaning Cato Institute's take on the crisis was a bit myopic and needed more historical context.

HCR wrote:
Today, the Pentagon ordered up to 8500 troops to go on standby in case they are needed to defend Ukraine against Russian aggression. The troops have not been activated. If they are, they will deploy to nations allied with the North Atlantic Treaty Organization (NATO), nations like Poland or Lithuania or Latvia, to provide help with logistics, medical needs, intelligence, and so on. If activated, the troops will not be authorized to enter Ukraine.

Here’s the story of how we got here:

The USSR dissolved in 1991 under pressure from a new alliance of Russia, Belarus, and Ukraine, joined by most of the other Soviet republics. Quickly, well-connected businessmen in those former republics began to amass wealth and power. At the same time, the fall of the Soviet Union prompted lawmakers in the U.S. to champion the free enterprise they were convinced had sunk the Soviets. They deregulated the U.S. financial industries just as rising oligarchs in Eastern Europe were eager to launder illicit money.

In 1999, Poland, Hungary, and the Czech Republic, all former satellites of the USSR, joined NATO over the protests of Russia, which was falling under the control of oligarchs who opposed western democracy. More countries near Russia joined NATO in the 2000s.

Russia set out to keep control of Ukraine. In 2004, it appeared to have installed a Russian-backed politician, Viktor Yanukovych, as president of Ukraine, but Yanukovych was rumored to have ties to organized crime, and the election was so full of fraud—including the poisoning of a key rival who wanted to break ties with Russia and align Ukraine with Europe—that the government voided the election and called for a do-over.

In 2004, Yanukovych began to work with U.S. political consultant Paul Manafort, who was known for managing unsavory characters, and in 2010, Yanukovych finally won the presidency on a platform of rejecting NATO. Immediately, Yanukovych turned Ukraine toward Russia. But in 2014, after months of popular protests, Ukrainians ousted Yanukovych from power in what is known as the Revolution of Dignity. He fled to Russia.


Shortly after Yanukovych’s ouster, Russia invaded Ukraine’s Crimea and annexed it, prompting the United States and the European Union to impose economic sanctions on Russia itself and also on specific Russian businesses and oligarchs, prohibiting them from doing business in U.S. territories. Since Russians had been using U.S. financial instruments to manage their illicit money, these sanctions froze the assets of key Russian oligarchs.

Putin wanted to get the sanctions lifted. At the same time, with Yanukovych out of power, Manafort was out of a job and in debt to his former friends. In summer 2016, Manafort began to manage the presidential campaign of Republican candidate Donald Trump. Shortly afterward, the Trump campaign changed the Republican Party’s 2016 platform to weaken its formerly strong stance against Russia and in defense of Ukraine.

Trump won the election, of course, and an investigation by the Republican-led Senate Intelligence Committee concluded that Russia had worked to get Trump elected and that Manafort had shared campaign information with his own former partner, a man the senators identified as a Russian operative.

Under Trump, American policy swung Putin’s way as Trump attacked NATO and the European Union, weakened our ties to our traditional European allies, and threatened to withdraw our support for Ukraine.

That policy changed when Biden took office. His administration renewed support for Ukraine and its move toward stronger ties to NATO and the European Union. At the same time, it has dramatically cracked down on money laundering, shell companies, and the movement of illicit money.

The U.S. began to take note that Russia was massing troops on its border with Ukraine last November. Rather than act unilaterally, the Biden administration immediately reached out to European allies and sent senior U.S. officials to Russia to meet with officials there, at the same time reassuring Ukraine officials that the U.S. would continue its support for Ukraine’s territorial integrity. When Putin worked with Belarus president Alexander Lukashenko to destabilize Poland by pushing migrants over the border, he helped to strengthen NATO’s unity, until now countries like Finland and Sweden, which are not NATO members, are considering joining.

The question at home is whether today’s Republicans will stand with Ukraine, NATO, and the rule of law that says sovereign countries have the right to determine their own alliances. If they support another Russian invasion of Ukraine, they will weaken NATO and the stands the U.S. and the European Union have taken to clean up global finances to stop oligarchs from amassing the power that comes from illicit money.

Since November, Fox News Channel personality Tucker Carlson has led the U.S. defense of Russia, echoing Russian talking points and suggesting that there is no reason for the U.S. to support Ukraine. (In November, when he asked of Representative Mike Turner (R-OH) why the U.S. should side with Ukraine over Russia, Turner noted that Ukraine is a democracy, “Russia is an authoritarian regime,” and that America is “for democracy” and “not for authoritarian regimes.”)

But the Republicans are split on the issue. Many are criticizing Biden not for his stand against Russian aggression, but because they say he has not been tough enough about it. National Review editorialized today that Biden should be moving weapons to Ukraine more quickly, the Wall Street Journal said the same on January 19, and Breitbart has called for impeaching Biden for not pushing back strongly enough against Russia.

While the Republicans are focusing on a unilateral military approach to the situation before Putin makes another move into Ukraine, Chairman of the Senate Foreign Relations Committee Bob Menendez (D-NJ), along with 38 colleagues, has introduced legislation to impose sanctions on the Russian banking sector, senior military and government officials, and Russia’s extractive industries, as well as cut Russia out of the SWIFT global transaction system, if Putin escalates hostilities. It authorizes another $500 million in assistance to Ukraine if Russia reinvades, and it seeks to counter disinformation coming from the Kremlin. Republican lawmakers are in talks with their Democratic counterparts over the bill.

At stake in this crisis is the concept of the international rule of law. The obvious question is whether nations should control their own borders and governments, or whether larger countries can absorb others in a sphere of influence. But there is also the question of money: oligarchs have risen to power thanks in part to the financial systems that enabled them to amass and launder illicit money that they then used to manipulate the politics of other countries. Under Biden, the U.S. and our allies are trying to strengthen democracies by getting rid of the loopholes that have helped illicit money poison democratic politics. The economic sanctions that Republicans are finding weak sauce might, in the end, reach far beyond Ukraine.

substack
0 Replies
 
izzythepush
 
  0  
Reply Tue 25 Jan, 2022 07:32 am
@bobsal u1553115,
I remember 9/11, that was the day America realised that terrorism wasn't a good thing and we should feel sorry for America and forget all the people murdered by the American funded IRA.

9/11 only happened because of America's lax security at the airports. Europe and Israel had both told America to beef up security and 9/11 was the consequence of ignoring good advice.

Then we had a load of unnecessary procedures at the airport as a result of 9/11 which are still in place and largely unnecessary.

Gary McKinnon had committed a crime and should have been tried over here but the Empire demanded British blood and terrified the poor lad.

The same double standards apply Harry Dunn's killer fled without facing justice and keeps delaying the trial date which will be via video link if it ever happens. Meanwhile no arrests have been made in the case of Matthew Wilson murdered in Georgia.

No arrests will be made because Matthew Wilson is British and Ametican justice is only for Americans.
0 Replies
 
bobsal u1553115
 
  1  
Reply Tue 25 Jan, 2022 07:36 am
@izzythepush,
This is a very good read about how the FBI rounded up dozens of people their paid informers involved in dummy plots.

https://nymag.com/intelligencer/article/limo-crash-ny-fbi-informant.html?utm_source=pocket-newtab
0 Replies
 
edgarblythe
 
  2  
Reply Tue 25 Jan, 2022 06:58 pm
Got my vote by mail application by mail today. Now to find out if Governor Ass - Abbott's restrictions keep me from voting the same way I've voted for several years in a row.
0 Replies
 
edgarblythe
 
  2  
Reply Wed 26 Jan, 2022 08:26 am
https://scontent.fhou1-2.fna.fbcdn.net/v/t39.30808-6/272834775_234587385528061_2019137693336804630_n.jpg?_nc_cat=108&ccb=1-5&_nc_sid=8bfeb9&_nc_ohc=7oHJPh_ehIoAX9OmL0O&_nc_ht=scontent.fhou1-2.fna&oh=00_AT_hSHRTsL2TYryoAT1giz06oSlNwtizOQhF44Chq9oFiw&oe=61F55606
0 Replies
 
edgarblythe
 
  1  
Reply Wed 26 Jan, 2022 01:03 pm
A unanimous Supreme Court ruling Monday in Hughes v. Northwestern University ensures that Americans will still be able to sue employers and Wall Street banks that bleed dry their retirement accounts — a landmark precedent in protecting the $7.3 trillion Americans hold in 401(k) accounts.

The 8-0 ruling, written by Sonia Sotomayor, found that 401(k) plan participants could continue to take legal action against employers for including high-fee, high-risk investments in their 401(k) lineup, even if they also included lower-fee, lower risk options.

The decision could be a blow against powerful private equity industry titans, who for years have been aiming to convince 401(k) plans to include their high-fee, high-risk offerings. Blackstone Group CEO Stephen Schwarzman has said accessing retirees’ 401(k) accounts was “one of our dreams.”

With 3.5 million American seniors being unable to afford the cost of prescription drugs, and 5.2 million elders who are food insecure, the new ruling could trigger additional litigation that forces improved governance in 401(k)s — potentially saving Americans hundreds of billions of dollars in collective fees.

“It's going to affect massive numbers of people,” said Jerry Schlichter, the St. Louis-based attorney who brought the Hughes case before the court. “Because the 401(k) is America’s retirement system now.”

Currently, the median 401(k) balance for Americans 65 and older is just $64,548. That amount could be as much as 40 percent higher, if it wasn’t for fees paid to Wall Street.

A Rare Win For Ordinary People
The ruling represents a rare victory for ordinary people in a Supreme Court that has bent aggressively to uphold the rights of corporations to fleece ordinary people. During its 2020-2021 term, the court ruled in favor of the positions advocated by the U.S. Chamber of Commerce, the powerful big business lobby group, 83 percent of the time.

That included another retirement case last year, Thole v. U.S. Bank, in which retired U.S. Bank employees claimed the company had mismanaged workers’ pension funds and engaged in self-dealing. But the high court ruled that because the plaintiffs’ benefits had not yet been reduced, they did not yet have standing to bring the case to court. That decision limited the ability of people in defined-benefit pensions to legally intervene to save their pensions before their savings are looted.

By contrast, the new ruling in Hughes v. Northwestern University does the opposite for 401(k) plans, which unlike pensions do not guarantee a defined retirement benefit, but do guarantee employers will make contributions to a savings account. The new ruling allowing plaintiffs to zero in on high fees being routinely extracted from their savings — which Schlitcter says shows the business-allied court at least acknowledges how the modern-day concept of retirement has changed.

“My father was a civil servant, an aircraft mechanic,” he said. “When he died, my mom lived on her paycheck [from his defined-benefit pension.] She didn't need to figure out stocks. The days of that kind of standard pension are gone. If the fees are high, it costs employees their retirement assets.”

In the case, Abigail Hughes and other current and former employees sued Northwestern University for including high-fee plan options in their 401(k) plan options, which materially hurt plan participants’ 401(k) balances.

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Schlichter pointed out that in this case, Wall Street had aggressively supported Northwestern University’s ability to include such high-fee options.

Several major financial industry groups submitted amicus briefs to the Supreme Court in support of the university. That included the Committee on Investment of Employee Benefit Assets, a trade group representing corporate pension plan managers; the American Benefits Council, which represents large employers including some mutual funds; and TIAA-CREF, a major manager of 401(k) plans.

The Investment Company Institute, a trade group for mutual funds that profit from 401(k) fees, noted in their own amicus brief that the “increased threat of litigation… is causing plan administrators/fiduciaries to adopt bright-line rules that exclude many classes of investments from defined contribution plan investment lineups, to the potential detriment of both plans and plan participants.”

When asked by The Daily Poster why he thinks that Wall Street interests sought to stop the Northwestern lawsuit, Schlichter said, “They want to maximize income at the expense of American workers and retirees.”

James Watkins III, an attorney who has been involved in 401(k) litigation, said that the ruling will force accountability from Wall Street.

“I gave a presentation one time at an event, and I was eating lunch, and the guy behind me said ‘very impressive presentation,’” said Watkins. “He introduced himself and said he was the CEO of a company. One of the things I have told employers is that you really need to provide plan participants with a basic education class. He told me, ‘Our company will never voluntarily give investor education to employees because they would realize how bad the plan is and then they would call you and you would sue us.’ This decision today forces them to rethink that.”

An Unsavory “Menu Of Options”
Hughes v. Northwestern University focused on how many 401(k) and 403(b) plans offer an extraordinary amount of options that people can choose from — in Northwestern’s case, over 400. The list of options in the plan have typically included both low-cost options for those savvy enough to recognize them — but they also included high-risk, high-fee actively managed funds often selected by people who do not have the time to do in-depth research on their retirement plans.

Northwestern, in its arguments, claimed that by including low-cost, low-fee options in their “menu of options,” they mitigated the impact of including bad options, too.

In March 2020, the Chicago-based Seventh Circuit Court of Appeals had ruled against the plaintiffs, agreeing with Northwestern’s argument — a decision that astounded Watkins.

“The “menu of options” argument is inconsistent with ERISA,” or the Employee Retirement Income Security Act, Watkins said. “Section 404(a) of ERISA clearly states that each investment option offered within the plan must be prudent both individually and collectively.”

Watkins’ analysis mirrored that of Sotomayor, who wrote in her ruling, “In Tibble, this Court interpreted ERISA’s duty of prudence in light of the common law of trusts and determined that ‘a fiduciary normally has a continuing duty of some kind to monitor investments and remove imprudent ones.’”

In its 2015 Tibble v. Edison decision, the Supreme Court also ruled in favor of plaintiffs seeking accountability from their 401(k)s. Schlicter, the Hughes lawyer, brought that case, too.

“It’s extremely exciting to have a pro-investor ruling come out of this Supreme Court,” said Chris Tobe, a financial analyst who works with lawyers seeking accountability from 401(k) plans. “Their decision in Thole was disappointing. The fact that it was 8-0 and Sotomayor wrote this opinion shows that even conservative people in 401(k) plans don't think that they should pay excessive fees.”

This newsletter relies on readers pitching in to support our journalism. If you like this story, please support The Daily Poster's work.
Real Music
 
  1  
Reply Wed 26 Jan, 2022 07:46 pm
@edgarblythe,
1. Thanks for posting the article.

2. Do you have the link for this article?

3. When I type in Hughes v. Northwestern University in my search engine, the ruling doesn't appear to coincide
with the specifics and details in the article you posted.
edgarblythe
 
  1  
Reply Wed 26 Jan, 2022 08:34 pm
@Real Music,
I pasted an email.
0 Replies
 
bobsal u1553115
 
  1  
Reply Thu 27 Jan, 2022 09:37 am
@Real Music,
This isn't the link we're looking for, the horse's mouth is a good start:

https://supreme.justia.com/cases/federal/us/595/19-1401/

Here's the link to the exact wording from Edgar:

https://www.dailyposter.com/shocker-workers-score-rare-win-over-wall-street/
Real Music
 
  1  
Reply Thu 27 Jan, 2022 09:40 pm
@bobsal u1553115,
Thank you.
0 Replies
 
edgarblythe
 
  -2  
Reply Sat 29 Jan, 2022 12:42 pm
0 Replies
 
 

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