TL;DR

A cabinet secretary’s irresponsible Tesla endorsement on Fox News cost naive viewers their savings, mirroring past financial crises fueled by blind faith and misplaced trust.

Story

John, a retiree glued to Fox News, saw his retirement savings vanish overnight. Why? A cabinet secretary’s reckless Tesla endorsement.

Secretary Lutnick, on Jesse Watters Primetime, urged viewers to buy Tesla stock. He painted Elon Musk, then a “special government employee” under Trump, as a sure bet. This unusual move—cabinet members typically avoid endorsing specific stocks—triggered a buying frenzy among loyal viewers.

But the market doesn’t care about political endorsements. Tesla, facing declining sales and recalls, didn’t magically rebound. John, and many like him, bought high, only to watch their investment plummet.

This echoes past financial calamities. Like the 2008 housing bubble—fueled by unchecked speculation—or Enron’s deceptive accounting, Lutnick’s endorsement created a mirage of false security.

‣ Special Government Employee: A temporary government advisor who may retain private sector ties, creating potential conflicts of interest.

This incident highlights how blind faith in authority figures can lead to devastating financial losses. Regulatory oversight and critical thinking—not TV pundits—are your true financial safeguards.

This wasn’t just misguided advice; it bordered on market manipulation. Those who heeded Lutnick’s call were left holding the bag while insiders likely cashed out.

‣ Market Manipulation: Artificially inflating or deflating asset prices for personal gain.

Advice

Treat financial advice from politicians or TV personalities with extreme skepticism—they’re not looking out for your wallet.

Source

https://www.reddit.com/r/stocks/comments/1jfvmd0/commerce_secretary_begs_fox_news_viewers_to_buy/