If You're Listening The man betting big on Trump's tariffs
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May 14, 2025 
Howard Lutnick, the controversial former Commerce Secretary under Trump, shares his gripping journey from Wall Street titan to a pivotal figure in America’s trade policies. The discussion dives into his rationale behind aggressive tariff strategies and the chaotic economic fallout that followed. Lutnick reflects on personal tragedies, including the impact of 9/11 on his career and philanthropy. With candor, he navigates the high-stakes world of trade negotiations, revealing the reckless gamble that might reshape America’s economic landscape.
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Lutnick's 9/11 Survival and Loss
- Howard Lutnick survived the 9/11 attack while losing two-thirds of his workforce, including close friends and family.
- He formed a relief fund and committed to supporting the families of the victims despite immense personal tragedy.
Rebuilding Cantor Fitzgerald Post-9/11
- Lutnick chose to rebuild after 9/11, betting the company's survival on an electronic bond trading platform called eSpeed.
- His plan focused on profit generation to support victims' families, not simply maintaining salaries.
Profiting from Market Volatility
- Cantor Fitzgerald profits from market volatility regardless of market direction.
- Lutnick benefits from financial chaos and is less fearful of economic downturns due to past experiences.