Scott Bessent said to NYC de `Drop Dead ” while he organizes a 20b exchange line for the Argentinian president in the chain saw and to close the dogs

Mamdani, of course, is the member of the little -known and little known millennium who became the favorite of the mayor who beat Andrew Cuomo in the Democratic primary in June. The business leaders were uniformly dismayed by its distant platform on the left and its affiliation with the democratic socialists of America (DSA), a group associated with personalities such as Senator Bernie Sanders (I-VT.) And the representative Alexandria Ocasio-Cortez (DN.Y.). Jamie Dimon, for example, called Mamdani “more a Marxist than a socialist”, although Mamdani would also have hired the CEO of JPMorgan in a friendly telephone call. President Donald Trump said he seemed to be winning Mamdani, while tearing the Republican candidate Curtis Sliwa for his refuge chat adoptions, being “not exactly listening hours”.

Mamdani’s shameless gradual platform includes free daycares, grocery stores belonging to the city, hundreds of thousands of affordable dwellings and higher taxes on rich and large companies. Bessent told Fox Business Mamdani would be alone if these plans went wrong.

“I guarantee you – and there are not many things in life that are sure – that New York will come to the federal government for bailout if Mamdani’s plans are implemented,” said Bessent on Mornings with MariaSpeaking with the long -standing anchor of the company Maria Bartiromo. Invoking the New York Daily News President Gerald Ford refused a bailout of New York in 1975: “It will be the same thing that Gerald Ford said: Drop Dead.” But Bessent organized an exchange line of $ 20 billion for a foreign government at the same time.

Argentinian president at the chain saw

Almost simultaneously, Bessent played a central role in the brain of an exchange agreement of $ 20 billion for Argentina under President Javier Milei. The libertarian economist is sadly famous for his campaign in theater, often brandishing a chain saw, and for his eccentricities, such as the four cloned dogs of his beloved Mastiff, Conan, named after his favorite economists (Milton, after Friedman; then Murray after Rothbard; as well as Robert and Lucas after Robert Jr.). He also took radical measures to resolve hyperinflation and economic crises of Argentina, by adopting the type of “shock therapy” recommended by his economic heroes, with promising early results before another monetary crisis in September. To put it in context, inflation in Argentina rose from more than 200% in 2024 to 33.6% today, but analysts criticize Peso to be overvalued.

The last market executed on the Peso, to be clear, is not all to do with Milei’s shock therapy; Politics is always involved. A political scandal surrounding the initiates of the Milei administration and the anger of the voters about the discounts of expenses led to a surprising defeat in the local elections, and the net sale then let the government burn reserves to keep its currency fixed to the dollar. (It is not sure that Argentina sticks to Peso, because Milei proposed “dollarization”, officially adopting the dollar as a legal assistant.)

While President Milei welcomed the agreement as a vote of trust in his approach to shock therapy, criticism accused Besse and international financiers of supporting an imprudent administration synonymous with economic experimentation and authoritarian connotations.

Political and economic replicas

Bessent’s double interventions – threatening the New York Cup under the Democratic Socialist Mayor and channeling billions of dollars to the most polarizing leader in Argentinian for decades – have triggered a fierce debate on the role of private capital in the training of public destinations. His invocation of “Drop Dead” has become a rallying cry for criticisms which consider the consolidation of financial power as fundamentally anti -democratic, even if he praises business leaders and suspicious conservative politicians of progressive economic ambitions.

While New York is based for a likely administration of Mamdani and Argentina tests the limits of the economy of the Milei chain saw, blunt warnings of Bessent and financial offers behind the scenes illustrate the worried balance between democratic ideals and market discipline, in which, ironically, the end of the city and the country can depend Powerful finance handle.

For this story, Fortune Used a generative AI to help an initial project. An editor checked the accuracy of the information before the publication.