In New Response to Warren, Treasury Secretary Bessent Says Bailout of Argentina Amid Government Shutdown is “Mission-Critical”
Warren blasts peso purchases in a letter to Bessent: “Americans deserve to know the extent of the bailout and exactly how much taxpayer money has already been spent—and lost.”
Warren: “During a government shutdown, you and President Trump are helping an ideological ally, billionaire investors, and major hedge funds while American farmers and workers miss paychecks and face rising costs for basic necessities.”
Bessent Response (PDF) | Warren Follow-Up Letter (PDF)
Washington, D.C. – U.S. Senator Elizabeth Warren (D-Mass.), Ranking Member of the Senate Banking, Housing, and Urban Affairs Committee, sent a letter to Treasury Secretary Scott Bessent requesting information about the Trump Administration’s plans to further bail out Argentina’s financial markets through the direct purchase of Argentine pesos. Ranking Member Warren’s letter comes after Secretary Bessent admitted to her that bailing out the President’s political ally in Argentina and rich hedge fund investors is “mission-critical” amid a government shutdown and as Americans brace for their health insurance premiums skyrocketing because of Republicans’ refusal to negotiate.
“According to your recent letter, the Treasury Department–in the midst of a government shutdown–deems it ‘mission-critical’ to bail out Argentina’s financial markets in advance of a midterm election for President Javier Milei, one of President Trump’s personal friends,” wrote Ranking Member Warren. “These ‘mission-critical’ activities include a $20 billion currency swap with Argentina’s central bank, work to arrange a $20 billion private investment vehicle for Argentina, and, now, the apparent purchase of at least hundreds of millions of dollars-worth of Argentine pesos directly using taxpayer dollars.”
The Ranking Member continued: “Americans deserve to know the extent of the bailout and exactly how much taxpayer money has already been spent—and lost. Yet rather than offer transparency, you continue to obfuscate the details of your work. Specifically, in response to my previous requests for information, you did not provide any meaningful details about your activities.”
Ranking Member Warren criticized the Trump Administration for focusing on Argentina rather than supporting Americans amid a government shutdown: “Ultimately, President Trump does not appear to be interested in meaningfully addressing any of our country’s pressing problems that are indeed ‘mission-critical.’ Instead, during a government shutdown, his Administration is working to make direct purchases of a foreign currency—helping an ideological ally, billionaire investors, and major hedge funds while American farmers and workers miss paychecks and face rising costs for basic necessities.”
The Ranking Member concluded by requesting answers to her questions on the Trump Administration’s direct purchase of Argentine pesos by October 24, 2025.
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