An ephemeral product
In response to Mr. Castronovo's Dec. 13 letter lauding the Trump economy and labeling non-believers with juvenile shibboleths, does he understand that his soaring 401K profits are an ephemeral product of brokers' overreaching dreams and at no time represents a real number except on the day it must be withdrawn? Does he remember 2008 when investors were scammed for $10.2 trillion (Business Insider)? These investors were never reimbursed for their losses; only the perpetrators were rescued.
One persecutor of these wronged investors was Steve Mnuchin, our non-economist secretary of the treasury who in 2009 bought IndyMac for pennies on the dollar, renamed it OneWest and foreclosed so gleefully on 36,000 mortgages that federal regulators had to intervene.
Trump has made a business plan of bankruptcy and degrading his creditors ... four times. He couldn't be elected dogcatcher in New York. They know the amoral huckster.