TL;DR

Trump’s firing of NCUA board members mirrors past crises where unchecked power and greed led to systemic collapse. It’s a stark reminder that ‘independent’ institutions are vulnerable, and your savings could be at risk.

Story

Trump’s latest power play? Firing two board members from the National Credit Union Administration (NCUA). It’s like watching a slow-motion train wreck, reminiscent of the unchecked greed that fueled the 2008 financial crisis.

Here’s the breakdown: Trump, unhappy with interest rates, wants to control the Fed—an institution designed to be independent of political whims. He’s publicly bashing Fed Chair Jerome Powell and hinting at his removal. Now, he’s axed NCUA board members, sending a chilling message about his disregard for regulatory checks and balances.‣ NCUA: The agency that insures your credit union savings, much like the FDIC does for banks. Think of it as removing the referees from a game—suddenly, anything goes.

What’s the human impact? Imagine credit unions becoming pawns in political games, their stability jeopardized by reckless lending practices. It’s not just numbers on a balance sheet—it’s people’s livelihoods, their retirement savings hanging in the balance. Remember Enron? Blind faith in authority can cost you everything.

Why should you care? Because this erosion of independence sets a dangerous precedent. Trump’s actions could trigger a domino effect, politicizing other agencies and ultimately shaking the foundation of our financial system. The takeaway? Don’t be complacent. Question authority, diversify your savings, and understand that unchecked power leads to disaster.

Advice

Diversify your savings, understand how financial institutions are regulated, and never underestimate the dangers of unchecked political power.

Source

https://www.reddit.com/r/investing/comments/1k1cw9f/trump_fires_two_board_members_from_credit_union/