Sen. Warren humiliates executive invited by Senate Republicans to defend opposition to financial regulations

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Senate Republicans invited Primerica President Peter Schneider to testify against proposed regulations that would protect retirement savings from sketchy financial schemes — and it didn’t take long before he wished they hadn’t.

The Huffington Post’s Zach Carter reports that Democratic Senator Elizabeth Warren wasted no time in embarrassing Scheider, whose outfit is precisely the sort of sketchy financial scheme that the legislation is designed to protect the elderly against.

After he argued that his company acts “in a client’s best interest,” Warren lit into him.

“Mr. Schneider, I just want to understand your company’s advice in these cases,” she said. “Do you believe that people like these firefighters from Florida who are near retirement and have secure pensions with guaranteed monthly payments, should move their money into riskier assets with no guarantees, just before they retire?”