Elizabeth Warren actually said...

"because I want to direct this, because one consequence of the shift from defined benefit pensions to 401(k)'s and IRAs was that Americans had to rely on investment advisors and broker-dealers who can ..."

"Let us just stay focused on this question about cost."

"The standard prescription is that Americans should put more money aside. This recommendation glosses over a critical driver of unpreparedness. Wall Street is bleeding savers dry."

"The only way we fix that is if we change the rule and say that all of the investment advisors have to put the clients' best interest first."