Darien, Connecticut
New York and Connecticut developer James McManus discussed his ongoing financing dispute involving Fairbridge Asset Management and raised concerns about the growing role of private credit in American retirement accounts during a recent appearance on Your News Talk America. with broadcaster Jake Smith.
The interview aired on June 11, 2026, during Smith’s weekday morning program and focused on McManus’ Connecticut development project, his ongoing legal actions involving Fairbridge Asset Management, and broader concerns surrounding fraud, private credit, and retirement security.
During the interview, McManus addressed President Trump’s August 2025 executive order allowing private credit investments within 401(k) retirement plans.
A contractor with more than three decades of firsthand experience observing how organized fraud schemes operate, McManus warned that directing retirement assets into the approximately $2 trillion private credit industry could expose millions of Americans to risks they may not fully understand.
McManus described the expansion of private credit into retirement plans as “false advertisement” and warned that, without adequate transparency and oversight, it could become a “nuclear bomb” inside the retirement accounts of as many as 70 million American workers.
The discussion also explored potential parallels between today’s private credit market and past financial crises, as well as McManus’ analysis of reported Medicaid fraud schemes across the country.
“Speaking with Jake Smith on Your News Talk America. provided an important opportunity to discuss these issues publicly and explain why I believe greater scrutiny of the private credit industry is necessary,” McManus said.
Full Interview:
Last modified: June 18, 2026
