US Edition
Scott Bessent's $20 Billion Lifeline For Argentina A Bailout For 'His Hedge Fund Buddies,' Says Paul Krugman
The $20 billion aid package aims to stabilize Argentina's economy but faces criticism for benefiting hedge funds linked to U.S. Treasury officials, raising ethical and geopolitical concerns.
- On Thursday, Paul Krugman, Nobel Prize–winning economist, criticized U.S. taxpayer support for propping up the peso and said the Trump administration seeks to `bail out Argentina's version of Elon Musk`.
- The Trump administration moved to bail out Argentina with a $20 billion currency-swap lifeline, announced Thursday by Treasury Secretary Scott Bessent, who called Argentina of `systemic importance` and said `It's not a bailout at all`.
- From a market perspective, the bailout has already had a tangible impact as Argentine dollar-denominated bonds and the peso have rebounded despite a few weeks ago electoral setback ahead of midterms.
- Major hedge funds tied to friends of Treasury Secretary Scott Bessent stand to benefit, drawing criticism from Democrats and farm industry groups while Sen. Chuck Grassley said soybean farmers are `very upset` soon after the bailout.
- President Javier Milei is set to visit Washington next week, underscoring bilateral ties and a geopolitical aim to counter China, but currency experts warn the peso could soon come under pressure again.
15 Articles
15 Articles
During Trump’s shutdown, Argentina gets $20 billion while our service members get ... $0
While hundreds of thousands of American service members brace for missed paychecks, Donald Trump just handed $20 billion to Argentina during a government shutdown. And to top it off, his wealthy billionaire cronies are set to make a bundle off the investment.While Trump is rushing to give billions away to a foreign entity, he’s in no hurry to help soldiers. Late Friday, The Trump administration temporarily ruled out pursuing a short-term legisla…
Scott Bessent's $20 Billion Lifeline For Argentina A Bailout For 'His Hedge Fund Buddies,' Says Paul Krugman
Nobel Prize-winning economist, Paul Krugman has slammed U.S. Treasury Secretary Scott Bessent for the administration’s $20 billion aid package for Argentina, calling it a lifeline for his “hedge fund buddies,” rather than being a move that furthers in U.S. strategic interest. A Bailout For His ‘Hedge Fund Buddies’ In his newsletter on Thursday, Krugman said that the Trump administration “really hates giving foreign aid that serves any kind of hu…
Washington.- Donald Trump's government advanced Thursday in its rescue of Argentina, by making a direct purchase of pesos and finalizing the terms of a $20 billion aid, said Treasury Secretary Scott Bessent. The terms and conditions of the economic support package were not announced, but Bessent said the funds would come in the form of a currency exchange with Argentina's central bank. World big investors have been eagerly waiting for the ransom…
Bessent's big gamble on Argentina has a narrow road to pay off
For Scott Bessent’s $20 billion bet on Argentina to pay off, a lot of things have to go right — things that in the past, in Argentina, have tended to go wrong. The Treasury secretary announced a lifeline Thursday that’s designed to pull the...
Coverage Details
Bias Distribution
- 43% of the sources lean Left
Factuality
To view factuality data please Upgrade to Premium
