Investments will show the cost of hubris

A disastrous reckoning is looming this year. Bill Clinton's nearly final act before leaving office in 2001 was the repeal of the Glass-Steagall Act. This repeal allowed banks to expand into investment vehicles formerly prohibited. One direct result was the creation of mortgage tranches that led to the market crash of 2008. The repeal was reckless; this was hubris on the part of Clinton and the Congress.

We are now seeing Trump's hubris and ignorance as he relentlessly attacks Powell and the Federal Reserve. When Trump finally gets his way in May 2026, you will lose 30% of your investments' value, and just as likely, your job. So much for Trump's Liberation/ Golden Age when you're in the unemployment line.

G.D. Cole

Downers Grove