# Trump Accounts Promise Free Money. What's the Catch?

An episode of [Big Take](https://invisiblenetwork.ai/podcast/1578096201), 12 Feb 2026, 19 min.

Audio: https://podtrac.com/pts/redirect.mp3/tracking.swap.fm/track/UVBrz8bN8aM2Xe47PEPu/traffic.omny.fm/d/clips/e73c998e-6e60-432f-8610-ae210140c5b1/825d4e29-b616-46f4-afd7-ae2b0013005c/15bfa5cf-5fe0-41bc-b3c5-b3ef015fda11/audio.mp3?utm_source=Podcast&in_playlist=8b1dd624-a026-43e9-8b57-ae2b00130066

In July, American parents will be eligible to open Trump Accounts on behalf of their children. The administration touts these investment accounts as a way to help the next generation achieve the American dream. But are they the best way to save for college, home-ownership or retirement? And who stands to benefit most? On today’s Big Take podcast, Bloomberg’s Ben Steverman walks host Sarah Holder through the advantages — and criticisms — of this new program. Plus, economist Darrick Hamilton, whose federal “baby bonds” proposal inspired the Trump Accounts, weighs in on the immediate and long-term impacts the accounts could have on families and on the US economy. Read more: ‘Trump Accounts’ for Kids Get Another Billionaire Boost. What to Know. Hosted by Sarah Holder; Produced by Julia Press; Reported by Ben Steverman; Edited by Tracey Samuelson. Fact-checking by Eleanor Harrison-Dengate; Engineering by Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

## Transcript

[0:00] Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News.
[0:07] Speaker 2: Hey, it's Sarah Today. On the show, We're going to
[0:09] Speaker 2: talk about the Trump Administration's plan to give millions of
[0:13] Speaker 2: babies savings accounts. But first I want to tell you
[0:16] Speaker 2: about a special news series we at Bloomberg have been
[0:18] Speaker 2: working on called The Sixth Bureau, about a spy for
[0:21] Speaker 2: China's elusive intelligence agency and how he got caught. I'm
[0:26] Speaker 2: here in the studio with Drake Bennett, who covers tech,
[0:28] Speaker 2: and Jordan Robertson, who covers cybersecurity, the hosts of the show. Hi,
[0:33] Speaker 2: Hey there, Hey, can you give me the one sentence
[0:36] Speaker 2: elevator pitch? What is the show about?
[0:38] Speaker 1: Yes, a wild story about a Chinese spy who ran
[0:42] Speaker 1: operations all over the world to steal aviation trade secrets
[0:46] Speaker 1: and eventually got caught and documented a lot of his
[0:49] Speaker 1: life in a kind of diary that we wound up getting.
[0:51] Speaker 3: This is someone working out of basic like MSS headquarters
[0:54] Speaker 3: in China who is sort of masterminding one of these
[0:57] Speaker 3: spy rings, and so it was just totally unprecedented to
[1:00] Speaker 3: get this kind of thing.
[1:01] Speaker 1: And we had never seen We Drag and I have
[1:02] Speaker 1: both covered China stories for quite some time. We had
[1:05] Speaker 1: never seen a spy get arrested and leak all of
[1:09] Speaker 1: this information, and neither had the US government.
[1:12] Speaker 2: I really can't wait to listen. Thank you guys both
[1:14] Speaker 2: so much for joining me, and we're excited for the
[1:16] Speaker 2: rest of the listeners to get to hear it too.
[1:18] Speaker 1: Thank you.
[1:18] Speaker 2: Thanks The six Bureau from The Big Take will be
[1:21] Speaker 2: right here on our show tomorrow and every Friday for
[1:24] Speaker 2: the next few weeks. And now here's today's episode.
[1:28] Speaker 3: Here America, if I started investing when I'm sixteen nine seven,
[1:33] Speaker 3: it could change my fiuchual all our FeAs.
[1:36] Speaker 2: Between all the advertisements for weight loss drugs and AI
[1:39] Speaker 2: chatbots that air during this year's Super Bowl, there was
[1:42] Speaker 2: one commercial you might have blinked and missed. It was
[1:46] Speaker 2: sponsored by a nonprofit called invest America, promoting a new
[1:50] Speaker 2: government initiative. This year, every American child gets an investment account.
[1:56] Speaker 2: The administration is calling them five thirty A Accounts or
[1:59] Speaker 2: Trump account, their financial savings accounts that can't be touched
[2:03] Speaker 2: until a child turns eighteen. Starting in July, parents of
[2:07] Speaker 2: kids under eighteen will be able to sign up, and
[2:10] Speaker 2: kids born between twenty twenty five and twenty twenty eight
[2:13] Speaker 2: will get a seed deposit of one thousand dollars straight
[2:16] Speaker 2: from the US government.
[2:18] Speaker 1: That's free money, you.
[2:20] Speaker 2: Bloomberg reporter Ben Steverman didn't catch the ad live.
[2:24] Speaker 3: I missed the Super Bowl this year, so I missed
[2:26] Speaker 3: it entirely. Yeah, yeah, I just watched a movie instead.
[2:30] Speaker 2: But Ben says the prime placement shows just how central
[2:34] Speaker 2: the idea is to the administration's affordability messaging.
[2:38] Speaker 3: I think that this is about their signaling for twenty
[2:41] Speaker 3: twenty six, the election this year. We're not just a
[2:44] Speaker 3: party and an administration focused on helping rich people. We
[2:47] Speaker 3: want to help everyone.
[2:49] Speaker 2: This raises questions like how much could these Trump accounts
[2:53] Speaker 2: help the kids who get them? And who stands to
[2:56] Speaker 2: benefit most. They're the questions to mious Derek Hamilton has
[3:01] Speaker 2: interrogated as he weighed the program's promise and potential pitfalls.
[3:05] Speaker 4: You know, some of the good news is an interest
[3:08] Speaker 4: in how do we afford financial security in a wider way,
[3:13] Speaker 4: but the delivery is really problematic.
[3:20] Speaker 2: I'm Sarah Holder, and this is the big take from
[3:22] Speaker 2: Bloomberg News today. On the show, What is a Trump account?
[3:27] Speaker 2: How does it work? And how could it impact the
[3:29] Speaker 2: financial future of millions of American children. Tucked inside Trump's
[3:39] Speaker 2: One Big, Beautiful Bill, along with trillions of dollars of
[3:42] Speaker 2: tax breaks, were fifteen billion dollars earmarked for a new
[3:46] Speaker 2: program called Trump Accounts.
[3:49] Speaker 3: The original name was actually MAGA Accounts, and then they
[3:51] Speaker 3: decided to change the name to Trump Accounts as the
[3:54] Speaker 3: bill was going through the process, And they actually changed
[3:57] Speaker 3: a lot of the details about this as it was
[3:58] Speaker 3: going through. It became generous. I think they realized that
[4:01] Speaker 3: it was going to be too expensive if they did
[4:03] Speaker 3: what they were planning to do, so the program's changed
[4:06] Speaker 3: a lot. But these are basically individual retirement accounts for babies.
[4:11] Speaker 3: The money is locked up until they're eighteen and then
[4:16] Speaker 3: they become iras baby is.
[4:18] Speaker 2: Born between twenty twenty five and twenty twenty eight will
[4:21] Speaker 2: get a head start on saving with one thousand dollars
[4:24] Speaker 2: from the US government.
[4:25] Speaker 3: The other thing that they're hoping people do is that
[4:29] Speaker 3: they're hoping employers pitch in on behalf of their employees' kids.
[4:34] Speaker 3: They're also hoping that philanthropists step up, and they're hoping
[4:37] Speaker 3: that parents contribute to their kids accounts over time, and
[4:41] Speaker 3: you could also imagine like grandma and grandpa like can
[4:44] Speaker 3: contribute on behalf of the kid. So they're hoping that
[4:47] Speaker 3: this thousand dollars will become much more than one thousand
[4:50] Speaker 3: dollars over time.
[4:51] Speaker 2: How will that money be invested.
[4:54] Speaker 3: The idea is it's going to be in an index
[4:56] Speaker 3: fund invested in the in US stocks, And the federal
[5:01] Speaker 3: government has yet to announce who is going to manage
[5:04] Speaker 3: that money and how it exactly it's going to work.
[5:06] Speaker 3: But the idea is it's supposed to be low fee
[5:09] Speaker 3: index funds of some sort. So hopefully this money is
[5:14] Speaker 3: not eaten up by fees, and that if the stock
[5:17] Speaker 3: market does well, those gains will actually reach these kids.
[5:20] Speaker 3: I can say for a house with the trampoline to tramploine.
[5:25] Speaker 3: One of the real benefits of the idea of investing
[5:28] Speaker 3: on behalf of a baby is that you have the
[5:31] Speaker 3: power of compounding. You can put that money in the
[5:33] Speaker 3: stock market and it could go up potentially ten percent
[5:35] Speaker 3: a year, and that could grow the money into something substantial.
[5:39] Speaker 3: If you're able to save over.
[5:40] Speaker 2: Time, you could get two trampolines. Maybe these accounts will
[5:45] Speaker 2: be administered by the US Treasury and open for enrollment
[5:48] Speaker 2: in July, but the administration is also in the process
[5:51] Speaker 2: of picking firms to serve as trustees for these investments.
[5:54] Speaker 2: According to Bloomberg Reporting, Robinhood is one of the companies
[5:58] Speaker 2: that the US government is considering for a key role.
[6:01] Speaker 3: All this is uncharted territory in terms of keeping track
[6:04] Speaker 3: of so many like these accounts. It's going to be very,
[6:08] Speaker 3: very complicated, and let's hope that the computer systems of
[6:12] Speaker 3: the US government are up for it.
[6:14] Speaker 2: Launching a program at the scale may be uncharted territory,
[6:18] Speaker 2: but the idea of the government helping children build wealth
[6:21] Speaker 2: through investment accounts isn't new or unique to the US.
[6:25] Speaker 2: The UK offers a similar program that it calls a
[6:28] Speaker 2: Child Trust Fund, and for years there have been efforts
[6:32] Speaker 2: at the federal and state level in the US to
[6:34] Speaker 2: offer parents something called baby bonds, a government funded program
[6:38] Speaker 2: first proposed by Derek Hamilton, who's a professor of economics
[6:42] Speaker 2: and director of the New Schools Institute on Race, Power
[6:45] Speaker 2: and Political Economy.
[6:47] Speaker 4: In a nutshell, it is a trust account to democratize wealth.
[6:53] Speaker 4: It affords everybody the opportunity have a nest egg when
[6:57] Speaker 4: they become a young adult. So that they can invest
[7:00] Speaker 4: in a vehicle to build wealth.
[7:01] Speaker 2: Connecticut's been running a baby bonds program since twenty twenty three.
[7:05] Speaker 2: Hamilton came up with the idea after seeing how access
[7:08] Speaker 2: to an elite education shaped his own life path.
[7:12] Speaker 4: When understanding differences across class, race, gender, etc. It often
[7:17] Speaker 4: comes down to resources. The learnings was, how can we
[7:21] Speaker 4: better democratize that investment so that everyone would really be
[7:25] Speaker 4: able to build the economic security and agency that comes
[7:28] Speaker 4: along with wealth.
[7:29] Speaker 2: And in your conception and proposal for baby bonds, how
[7:33] Speaker 2: are those nesteg accounts funded.
[7:36] Speaker 4: Federally funded in the ideal scenario similar to social security.
[7:41] Speaker 4: That's another linkage we can use when we think about
[7:43] Speaker 4: baby bonds. We have something for us when we reach
[7:47] Speaker 4: the twilight of our life. We have the federal government
[7:50] Speaker 4: reserving the economic resource of a pension that's pretty much
[7:55] Speaker 4: universally established, but we have nothing for young adults begin
[7:59] Speaker 4: to a life cycle of trying to have economic security.
[8:04] Speaker 2: What Hamilton is pitching is essentially a savings account created
[8:08] Speaker 2: for babies by the federal government to give them a
[8:11] Speaker 2: head start on financial security in their young adulthood. Sounds
[8:15] Speaker 2: a lot like Trump accounts, right, but Hamilton says there
[8:19] Speaker 2: are some key differences.
[8:21] Speaker 4: Unlike baby bonds that are intended to provide everyone in
[8:26] Speaker 4: a democratized way and opportunity to build wealth, the Trump
[8:30] Speaker 4: account sadly in the delivery, will enhance inequality in the
[8:34] Speaker 4: long run.
[8:38] Speaker 2: We get into criticisms of the program and do some
[8:41] Speaker 2: math after the break. One of the key selling points
[8:53] Speaker 2: of Trump accounts is that they're universal. Any US citizen
[8:57] Speaker 2: can sign up, but that also means they're not design
[9:00] Speaker 2: and to offer more advantages to families who have fewer resources.
[9:05] Speaker 3: Derek Hamilton's baby bonds or other almost democratic proposals. In
[9:10] Speaker 3: places like Connecticut, a larger share of the money is
[9:12] Speaker 3: set aside for poor kids, and that would help, he says,
[9:16] Speaker 3: narrow inequality, narrow the racial wealth gap. The idea is
[9:20] Speaker 3: that that would give poor kids the sort of the
[9:24] Speaker 3: same start in life that richer kids get in terms
[9:27] Speaker 3: of help from parents, help with down payments, help with
[9:30] Speaker 3: college educations.
[9:32] Speaker 2: The idea being there are some kids who basically have
[9:35] Speaker 2: a savings account built in when they're born because of
[9:38] Speaker 2: the wealth of their parents.
[9:40] Speaker 3: Right, I mean, they get a baby bond essentially because
[9:43] Speaker 3: their parents are wealthier, their grandparents are wealthier, They just
[9:45] Speaker 3: there's somebody in their network that they can rely on.
[9:48] Speaker 3: Whereas the really the knock on Trump accounts is that
[9:51] Speaker 3: this could potentially, depending on how this plays out, this
[9:55] Speaker 3: could potentially be really a benefit for affluent families in
[9:59] Speaker 3: some case that some poor families might not even know
[10:03] Speaker 3: exists and might not even learn remember to access a
[10:06] Speaker 3: might not sign up for.
[10:07] Speaker 2: Why is it a universal program instead of a means
[10:10] Speaker 2: tested program?
[10:12] Speaker 3: The Trump administration doesn't seem to want to think of
[10:14] Speaker 3: this as purely for low income kids. They want to
[10:18] Speaker 3: think of it as getting all Americans to save more
[10:22] Speaker 3: money and put more money in the stock market especially
[10:26] Speaker 3: and help the broad swath of the country benefit more
[10:31] Speaker 3: from economic growth when the stock market goes up.
[10:34] Speaker 2: Derek Hamilton points out that the program's universality could have downsides.
[10:39] Speaker 4: If you literally gave everyone the same resource throughout society,
[10:43] Speaker 4: you're effectively raising asset prices in a way that won't
[10:48] Speaker 4: achieve what it is you're trying to achieve, which is
[10:50] Speaker 4: to provide those didn't need it more to have greater access.
[10:54] Speaker 2: And while everyone is eligible for the accounts, some families
[10:57] Speaker 2: might have even more opportunities to grow their cash. Employers
[11:02] Speaker 2: like JP, Morgan Chase, and Blackrock have already pledged to
[11:05] Speaker 2: contribute on behalf of their workers children.
[11:08] Speaker 3: We haven't yet heard like McDonald's or Walmart or you know.
[11:11] Speaker 3: It's the sort of the other employers step up.
[11:13] Speaker 2: Philanthropists are expected to step up too. At the Trump
[11:17] Speaker 2: Account Summit in January, Trump touted a six point twenty
[11:20] Speaker 2: five billion dollar investment from the billionaires Susan and Michael Dell,
[11:24] Speaker 2: the founder of Dell Technologies.
[11:26] Speaker 3: Send up, Michael, What a great guy.
[11:30] Speaker 2: The Dell's hope to seed twenty five million accounts for
[11:33] Speaker 2: kids ten and under who aren't already eligible for the
[11:36] Speaker 2: government money targeted and zip codes where the median income
[11:39] Speaker 2: is below one hundred and fifty thousand dollars.
[11:42] Speaker 3: Michael Dell's generosity is obvious, like six billion dollars is
[11:46] Speaker 3: a lot of money to give away. But when you
[11:48] Speaker 3: spread that six billion dollars over millions and millions of kids,
[11:52] Speaker 3: you're talking about two hundred and fifty dollars each, which
[11:55] Speaker 3: really just doesn't move the needle for a lot of kids.
[11:58] Speaker 2: Beyond these questions of equity and impact, then says there's
[12:02] Speaker 2: another big asterisk attached to these accounts.
[12:05] Speaker 3: The tax treatment is less favorable than college savings accounts,
[12:09] Speaker 3: five twenty nine plans and other tools. The money that
[12:13] Speaker 3: comes out of a Trump account at the end of
[12:17] Speaker 3: the process is treated and taxed as ordinary income. So
[12:22] Speaker 3: if you were some money was given on your behalf
[12:24] Speaker 3: and then it grows, those investment gains are going to
[12:27] Speaker 3: be treated as ordinary income to you, and you're gonna
[12:29] Speaker 3: have to be taxed on them, whereas five twenty nine
[12:32] Speaker 3: college saving plans. Usually the money is tax free if
[12:36] Speaker 3: it's spent on a qualified expense like education. You also
[12:39] Speaker 3: have to remember when people throw out the math on
[12:42] Speaker 3: how much money this is going to eventually become, don't
[12:45] Speaker 3: forget about inflation. Even if this grow. If you got
[12:49] Speaker 3: really lucky in the stock market and you left it
[12:51] Speaker 3: in long enough and it became twenty thousand dollars, which
[12:53] Speaker 3: would be a real stretch. Remember that's twenty thousand dollars
[12:57] Speaker 3: in twenty five years, not twenty thousand dollars now. So
[13:00] Speaker 3: it's going to buy a lot less.
[13:02] Speaker 2: A graphic on Trump accounts dot gov says that if
[13:05] Speaker 2: you open an account for your child today with just
[13:07] Speaker 2: the thousand dollars government deposit and make no further contributions.
[13:11] Speaker 2: The account would hold two hundred and forty three thousand
[13:14] Speaker 2: dollars by the time the kid is fifty five years old.
[13:17] Speaker 2: But inflation really changes the math.
[13:20] Speaker 3: I think you have to remember that fifty five years
[13:22] Speaker 3: is a really long time and a lot can happen
[13:25] Speaker 3: in that timeframe, and so the stock market can do
[13:27] Speaker 3: very well, but the dollar can also lose a lot
[13:30] Speaker 3: of value, so you end up with a much smaller
[13:33] Speaker 3: amount than you would really imagine.
[13:35] Speaker 2: Yeah, what is two hundred and forty three thousand dollars
[13:37] Speaker 2: in fifty five years from now? Inflation?
[13:41] Speaker 3: I was trying to I was trying to do the math,
[13:43] Speaker 3: and it was like, if you look at how much
[13:45] Speaker 3: inflation we've had in the last fifty five years and
[13:49] Speaker 3: you kind of last it forward to the next fifty
[13:51] Speaker 3: five years, it's something like thirty thousand dollars. Now, like
[13:56] Speaker 3: that's good, but again, like it's more than a thousand
[13:59] Speaker 3: dollars when we're talking about a fifty five year old,
[14:01] Speaker 3: we're talking about retirement expenses. One of the ideas of
[14:04] Speaker 3: these programs is that they're going to help a twenty
[14:06] Speaker 3: three year old get a good start in life and
[14:09] Speaker 3: maybe be able to go to a vacational class or
[14:11] Speaker 3: something like that that really jump starts them. If you're
[14:14] Speaker 3: waiting till you're fifty five. There is a lot of
[14:17] Speaker 3: other things that probably should have happened in the wealth
[14:19] Speaker 3: building department in between.
[14:21] Speaker 2: I mean, and the other thing that we've touched on
[14:23] Speaker 2: before is taxes. You know, two hundred and forty three
[14:26] Speaker 2: thousand dollars would also be taxed once you take it out.
[14:30] Speaker 3: Right right, and those taxes will be complicated. But these
[14:33] Speaker 3: do not have the same tax advantages as some of
[14:36] Speaker 3: the other programs that are out there. Financial advisors say,
[14:38] Speaker 3: you know, like a five to twenty nine plan is
[14:40] Speaker 3: probably a better investment for your kids college if it's
[14:44] Speaker 3: you putting them money, right.
[14:46] Speaker 2: So maybe sign up for the account, get the one
[14:50] Speaker 2: thousand dollars, and watch it grow. But adding more money
[14:55] Speaker 2: to the account won't have the same effect as it
[14:57] Speaker 2: would if you were contributing to a five twenty account exactly.
[15:01] Speaker 3: Even people who are skeptics of Trump accounts say, there's
[15:05] Speaker 3: no doubt that if your baby is eligible for this,
[15:08] Speaker 3: you should sign up and you should access this money.
[15:10] Speaker 3: There's just no doubt, Like, that's free money for you. Now,
[15:13] Speaker 3: Should you save your own money in a Trump account?
[15:16] Speaker 3: Maybe not? Like, actually probably not, according to the financial
[15:19] Speaker 3: advisors we've talked to. And again, maybe this is a
[15:23] Speaker 3: first step, like maybe this is an area of bipartisan
[15:27] Speaker 3: agreement going forward that there can be compromises on and
[15:31] Speaker 3: people can work something out, because it does seem like
[15:34] Speaker 3: both parties understand the need to do something about wealth inequality.
[15:40] Speaker 3: The question is which of these solutions is really going
[15:43] Speaker 3: to make a difference in an actual kid's life.
[15:46] Speaker 2: Affordability has been a major concern for Americans and Trump's
[15:50] Speaker 2: first year back in office, and it's top of mind
[15:53] Speaker 2: for the administration heading into the twenty twenty six mid
[15:55] Speaker 2: term elections. Ben says Trump accounts are just one of
[15:59] Speaker 2: many policies and Trump's one big, beautiful bill pitched to
[16:03] Speaker 2: working and middle class families.
[16:05] Speaker 3: No tax on tips, no tax on overtime, a bigger
[16:09] Speaker 3: senior deduction, and the Trump accounts. I think that this
[16:13] Speaker 3: is about their signaling for twenty twenty six, the election
[16:16] Speaker 3: this year. We're not just a party and an administration
[16:20] Speaker 3: focused on helping rich people. We want to help everyone.
[16:23] Speaker 2: Could this move the needle on affordability.
[16:25] Speaker 3: I guess I would just say, like, I don't think
[16:27] Speaker 3: one thousand dollars for these millions of babies is really
[16:32] Speaker 3: going to move the needle on wealth inequality in America.
[16:35] Speaker 3: But it is nice that we're having this conversation. It's
[16:38] Speaker 3: nice that we're like thinking about creative approaches to this
[16:43] Speaker 3: problem and what might really move the needle going forward,
[16:47] Speaker 3: and how we might build on this and change it
[16:48] Speaker 3: going forward, and how we might get everybody saving potentially
[16:54] Speaker 3: and working toward some kind of goal that narrows wealth
[16:57] Speaker 3: inequality a little bit. We have a tax system is
[17:00] Speaker 3: actually very advantageous to wealthy people in this country, and
[17:04] Speaker 3: we have lots of tax incentives in the law around
[17:07] Speaker 3: retirement and five twenty nine plans and other things that
[17:10] Speaker 3: really are favorable to upper middle class people too.
[17:13] Speaker 2: And these Trump accounts come as there are broader cuts
[17:15] Speaker 2: to the social safety net.
[17:17] Speaker 3: I mean, one thousand dollars is potentially a month's utility
[17:20] Speaker 3: build this cold winter. I mean, it's a good amount
[17:22] Speaker 3: of money. But there's a lot of challenges that middle
[17:25] Speaker 3: class and working class families are facing right now in
[17:28] Speaker 3: terms of affordability. And this is in some ways. It's
[17:32] Speaker 3: a little bit of a frustrating conversation because there's a
[17:34] Speaker 3: lot of emphasis on this symbol of the Trump accounts
[17:39] Speaker 3: when the reality behind the symbol is like a little
[17:41] Speaker 3: bit smaller.
[17:44] Speaker 2: Derek Hamilton doesn't see the five point thirty a Trump
[17:47] Speaker 2: accounts as the right solution to narrow inequality, but he
[17:51] Speaker 2: does see potential in the symbol.
[17:53] Speaker 4: You know, we often maintain or manage poverty rather than
[17:57] Speaker 4: investing in the capabilities of those indis with lower resources.
[18:02] Speaker 4: So I hope that this ushers in a new genre
[18:06] Speaker 4: of public policy where we flip the equation. Rather than
[18:10] Speaker 4: trying to maintain people, we invest in them. So to
[18:13] Speaker 4: the extent we consider baby bonds or five point thirty
[18:16] Speaker 4: eight investments accounts in people's capabilities, that's a good thing.
[18:27] Speaker 2: This is The Big Take from Bloomberg News. I'm Sarah Holder.
[18:30] Speaker 2: To get more from The Big Take and unlimited access
[18:33] Speaker 2: to all of Bloomberg dot com, subscribe today at Bloomberg
[18:37] Speaker 2: dot com slash podcast Offer. If you liked this episode,
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[18:47] Speaker 2: Thanks for listening. We'll be back tomorrow

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