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 humanitarian purpose,” but appears eager to “bail out Argentina's version of Elon Musk,” referring to President Javier Milei.
“So while millions of children must die to save a few billion dollars,” Krugman said, while “taxpayers are on the hook for billions more to bail out Bessent's hedge fund buddies.”
Krugman previously described the aid as ideologically motivated but now says he was “insufficiently cynical.” He said that the move may be aimed at protecting the interests of Rob Citrone, a billionaire hedge fund manager, and long-time associate of Bessent, who, according to Krugman, has invested heavily in Argentine assets.
https://www.msn.com/en-us/money/news/scott-bessent-s-20-billion-lifeline-for-argentina-a-bailout-for-his-hedge-fund-buddies-says-paul-krugman/ar-AA1ObwIb
= new reply since forum marked as read
Kick in to the DU tip jar?
This week we're running a special pop-up mini fund drive. From Monday through Friday we're going ad-free for all registered members, and we're asking you to kick in to the DU tip jar to support the site and keep us financially healthy.
As a bonus, making a contribution will allow you to leave kudos for another DU member, and at the end of the week we'll recognize the DUers who you think make this community great.