Howard Lutnick, currently serves as the 41st United States Secretary of Commerce joined Cantor Fitzgerald in 1983, rising rapidly to become its President and CEO at age 29, establishing himself as a prominent Wall Street figure for over three decades, rebuilding Cantor Fitzgerald after the devastating loss of 658 employees, including his brother, in the September 11, 2001, attacks on the World Trade Center. An event he somehow missed.
Lutnick, publicly championed and defended the tariffs as essential for national security and economic rebalancing, dismissing concerns about their legality or economic fallout. However, Cantor Fitzgerald, now run by his sons Brandon and Kyle Lutnick as Chairman/CEO, developed a financial product in mid-2025 allowing clients to bet against the tariffs’ survival by purchasing importers’ rights to potential future refunds if courts struck them down.
A 2025 Wired Magazine article claimed the firm had already completed a $10 million deal in refund rights. A claim that remains a he said she-said between media reports and company denials, with no definitive proof either way as of now. This isn’t a Trump issue. This is a reminder that the 41st United States Secretary of Commerce works for We The People.
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