Elizabeth Warren Says Trump Is Giving $20 Billion To Argentina While Americans Can’t Afford Groceries: Calls Out Bailout For ‘Wall Street Hedge Funds’
Sen. Elizabeth Warren (D-Mass.) criticized President Donald Trump’s decision to allocate $20 billion in taxpayer funds to Argentina, a move that comes at a time when Americans are still struggling at home.
It’s A Bailout For ‘Wall Street Hedge Funds’
On Tuesday, in a post on X, Warren said, “Donald Trump is giving $20 billion of taxpayer money to Argentina,” which she said was aimed at helping “his political ally stay in power,” while also bailing out “Wall Street hedge funds.”
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She criticized the move, saying that this comes at a time when “Americans at home can’t afford health care or groceries.”
Former Treasury Secretary Lawrence Summers said he would be “withholding judgment at this point,” regarding the bailout in a post on X.
Summers said that the “tactics used in this bailout are new and raise questions,” while adding that he’ll “have to see how it all plays out over time.”
He, however, agreed that the “United States should take a leadership role” when it comes to aiding countries that experience a sudden loss of liquidity, on Bloomberg Television’s Wall Street Week on Tuesday.
This Is A Lifeline For Scott Bessent’s ‘Hedge Fund Buddies’
Last week, economist Paul Krugman criticized the bailout in his newsletter for the same reason, saying that it was primarily aimed at rescuing Treasury Secretary Scott Bessent’s “hedge fund buddies.”
He said that the administration wants to protect the interests of hedge fund billionaire Rob Citrone, the co-founder of Discover Capital Management, and a longtime associate of Bessent. According to Krugman, Citrone and his fund are heavily invested in Argentine assets.
“U.S. taxpayer money is propping up the peso, allowing hedge funders to sell their Argentine assets at inflated prices, after which the peso will promptly fall again,” he said.
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