Comment by Cogito-Ergo-Bibo on 31/01/2025 at 20:23 UTC

7 upvotes, 1 direct replies (showing 1)

Why does it bother you that they opted to do their custodian business with Schwab vs some other major custodian?

I'm a liberal so I get the initial gut reaction, but I legit don't see the problem with the custodial relationship.

Replies

Comment by tacobellbutt at 31/01/2025 at 20:52 UTC*

-3 upvotes, 1 direct replies

Charles Schwab’s granddaughter was made the ~~chief of staff for the Treasury Secretary~~ Deputy Chief of Staff of the US Department of Treasury[1]. Schwab is willing to create a risky investment instrument for customers while getting a personal kickback. To me this is blatant corruption and I’ve lost all trust in Schwab.

1: https://home.treasury.gov/about/general-information/officials#:~:text=Cora%20Alvi-,Deputy%20Chief%20of%20Staff,Samantha%20Schwab,-Director%20of%20Policy