The controversial life of the US Secretary of Commerce: over 70% of employees led the company to rebirth after 9/11, and now he is the most hated person on Wall Street.

Wall Street believes that Lutnick, as the US Secretary of Commerce, has repeatedly defended the tariff policy in the media, exaggerated and even incoherent, which is one of the culprits that has shaken confidence in the capital market... This article takes you through the ups and downs of Howard Lutnick's life. (Synopsis: Trump's "Immigration Gold Card" sells 1,000 pieces a day and earns $5 billion, Secretary of Commerce: When war breaks out, you can come to the United States to start over) (Background supplement: Digital Employment Gold Card supports "blockchain people to work in Taiwan", DIGI Gold Card Community: Taiwan is eager for global digital talents) When President Donald Trump nominated Howard Lutnick as U.S. Secretary of Commerce late last year, he highlighted Lutnick's presence The moving story of rebuilding investment bank Cantor Fitzgerald after the 9/11 tragedy. However, behind this inspiring image, he is also a controversial business figure. The $1.5 billion financier, described by Bloomberg as "Wall Street's most hated man," has raised questions about his business practices, from unfair treatment of partners to numerous confrontations with regulators. In the context of the absurd tariff policy in the United States, which caused market unease and the stock market plunged, Wall Street executives have recently pointed the finger at Lutnick, believing that his public remarks have exacerbated market chaos. Rumor has it that Wall Street has actively lobbied the Trump team to fire Lutnick in hopes of reducing market uncertainty and panic. What exactly shaped this unique financial tycoon? And how will his similar business style to Trump affect U.S. business policy? The story of rebirth from the ashes and the shadows behind Lutnik's early life experienced a series of blows, losing his mother at the age of 16 and his father at the age of 18, which shaped his tenacious and even cold character. After graduating from university, he joined Cantor Fitzgerald and rose rapidly with his business acumen and hard work, taking over the day-to-day operations of the company at just 30 years old. However, the biggest turning point in his life and career was the events of 9/11 in 2001. The terrorist attack destroyed Cantor Fitzgerald's World Trade Center office, taking away 658 employees, including his own brother, and three-quarters of the company's New York workforce. In the face of a devastating blow, Lutnik has shown remarkable resilience. He quickly mobilized resources, used the company's electronic trading platform, eSpeed, to stay afloat and pledged to donate 25% of future profits to the families of the deceased employees, paying a total of $180 million. This move earned him public acclaim and created an image of a leader who stood up from tragedy. However, even during the reconstruction process, controversy followed. He was later criticized for suspending the wages of the dead employees, a decision that angered many families, although he defended it as a matter of survival and subsequent compensation. "Wall Street's Most Hated Man": Controversial Business Tactics Lutnick has been dubbed "Wall Street's Most Hated Man" because of decades of controversial business practices. He fought a bitter legal battle with the Cantor family for control, and under Cantor Fitzgerald's partnership, many employees felt exploited, especially if they had difficulty accessing funds after leaving. Former employees' complaints paint an image of a leader who puts the interests of the company and the individual ahead of his employees. His company has also repeatedly clashed with regulators. The U.S. Securities and Exchange Commission (SEC) has repeatedly fined Cantor Fitzgerald for poor recordkeeping and alleged market manipulation. The Commodity Futures Trading Commission (CFTC) has also fined its companies for problems with certain trading practices. These incidents have deepened doubts about its business ethics. From business tycoon to cabinet member: Links and potential conflicts with Trump Such controversial people are close to Trump, and the two have similar business styles: both are adept at using changing strategies to make money, and both have caused controversy over business practices, including issues involving fraud and record-keeping. While Trump leans toward a macro perspective and Lutnick pays more attention to detail, their business pragmatism and pursuit of "winning" are highly compatible. Lutnick showed a high degree of loyalty to Trump, becoming a key donor and ally to the Trump campaign, which is considered one of the key factors in his eventual nomination for commerce secretary. However, the nomination raised serious conflict of interest concerns from the start. Lutnick's business empire, which includes Cantor Fitzgerald, BGC Partners and Newmark, has extensive business relationships with numerous federal agencies, from bond transactions to real estate services. His vast personal wealth and investments in areas such as cryptocurrencies could also conflict with the Commerce Department's regulatory duties. Inside Wall Street, including prominent investor Bill Ackman, concerns about conflicts of interest have been publicly voiced. But with a madman like Trump, even if he really has the serious suspicion of using his position to manipulate the market, everyone can only curse angrily in the short term, and can't really punish them with the law.... Extended reading: Trump manipulated the market "no more", the White House praised his subordinates The video exposed: You earn 2.5 billion, he earns 500 million, today is so beautiful The Department of Commerce under Lutnick, Wall Street is angry In addition, many Wall Street people believe that Lutnick, as the US Secretary of Commerce, has repeatedly defended tariff policies in the media, exaggerated and even incoherent, which is one of the culprits that has shaken confidence in the capital market. A Wall Street executive once criticized Lutnick as a "complete saboteur." At present, there are rumors that the mainstream circle of Wall Street has launched an action to "fire Lutnick" and is lobbying the Trump team to transfer him from tariff-related positions as soon as possible, and it is best to let him withdraw from the core decision-making circle. Related reports Trump 4/2 reciprocal tariffs may be more targeted "and take effect immediately", can Taiwan escape? 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