'I feel like I'm in a financial prison': Trump Wall Street plan puts 'mom and pop' investors at risk
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And a growing number of small investors may be at risk in the months and the years to come – thanks to a push by the financial industry, federal lawmakers and the Trump administration to loosen protections for small investors.
In August, Donald Trump issued an executive order that promised his administration will make it easier for Americans to stash cutting-edge investments in their retirement accounts. The order – titled “Democratizing Access to Alternative Assets for 401(k) Investors” – touts “the potential growth and diversification opportunities associated with alternative asset investments”. Americans had $13.9tn in 401(k)s and other employer-based retirement plans at the end of September 2025.
Three months later, Trump commuted the prison sentence of the former GPB Capital Holdings CEO David Gentile, who was found guilty in 2024 for his role in a years-long scheme that involved alternative investments. Investor advocates criticized Trump for freeing Gentile, who was at the center of the $1.6bn fraud that harmed thousands of teachers, nurses and other less experienced investors.
“It’s a signal that it is not a priority to protect your mom and pop investors,” said Adam Gana, a lawyer at the Chicago firm Gana Weinstein who has represented hundreds of clients who lost money in private equity deals set up by GPB. “It’s unbelievable. People’s lives were ruined, ruined by their investments in GPB.”
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https://www.theguardian.com/us-news/ng-interactive/2026/feb/17/trump-wall-street-plan-mom-and-pop-investors-risks