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Treasury Secretary Scott Bessent So Freaked Out by Tariffs, He Wants to Quit

Treasury Secretary Scott Bessent may be planning to cut and run after Donald Trump’s disastrous “reciprocal tariff” announcement earlier this week.

During an appearance on MSNBC’s Morning Joe Friday, contributor Stephanie Ruhle reported that the key Cabinet member is already looking for an escape hatch.

“My sources say that Scott Bessent is kind of the odd man out here and, in the inner circle that Trump has, he’s not even close to Scott Bessent or listening to him,” Ruhle said. “Some have said to me, he’s looking for an exit door to try to get himself to the Fed, because in the last few days he’s really hurting his own credibility and history in the markets.”

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by Anonymousreply 81April 26, 2025 12:33 AM

To be sure, Trump’s tariff policy represents a sort of defeat for Bessent, a former hedge fund manager who entered office under the delusion that he might actually succeed in stopping Trump from wrecking the economy. Should he flee the administration now, he would likely forfeit what little credibility remains.

by Anonymousreply 1April 5, 2025 2:29 AM

Bessent tries to blame market sell-off on China's DeepSeek versus Trump’s tariffs

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by Anonymousreply 2April 5, 2025 2:31 AM

Would change nothing until Trump drops dead

by Anonymousreply 3April 5, 2025 2:33 AM

Trump's Treasury secretary 'looking for an exit door' after two months on the job: MSNBC

Speaking with co-host Jonathan Lemire, Ruhle first pointed out that she has been unable to find people who support Trump's decision to begin a trade war that is causing worldwide economic chaos.

"I have reached out to so many people in the Trump universe, business people who have supported Trump, who have supported President Trump and, Jonathan, I cannot find one single investor with one single argument that makes sense for these tariffs. All I'm getting is, well, this is what the president thinks. This is what he's always wanted to do."

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by Anonymousreply 4April 5, 2025 2:33 AM

"My sources say that Scott Bessent is kind of the odd man out here and, in the inner circle that Trump has, he's not even close to Scott Bessent or listening to him," she told host Joe Scarborough. "Some have said to me, he's looking for an exit door to try to get himself to the Fed, because in the last few days he's really hurting his own credibility and history in the markets."

by Anonymousreply 5April 5, 2025 2:34 AM

He’s the only sane one in the Cabinet. He’s destroying his any future career daily. Quit. Maybe Laura Loomer can replace him.

by Anonymousreply 6April 5, 2025 2:39 AM

Although Loomer’s expertise is foreign policy. For Treasury maybe the Pillow Guy or Charlie Sheen…

by Anonymousreply 7April 5, 2025 2:41 AM

These motherfuckers always assume they'll be the ones to tame or reason with or control Donald.

by Anonymousreply 8April 5, 2025 2:44 AM

Don’t make me say it.

by Anonymousreply 9April 5, 2025 2:48 AM

She knew what she was signing up for. Bye Hedge Fundicia.

by Anonymousreply 10April 5, 2025 2:51 AM

He can always resign and speak out against the tariffs.

by Anonymousreply 11April 5, 2025 2:51 AM

Like he's some kind of honorable hold-out. He's been on media spewing shit just as crazy and intentionally deceptive as the rest of them. Fuck'em all.

by Anonymousreply 12April 5, 2025 2:53 AM

He’ll quit — or get fired by Trump after this story — and embark on a redemption tour a la Deborah Birx.

And it won’t go any better for him than it did her.

by Anonymousreply 13April 5, 2025 2:59 AM

Bessent is worth $800 million. He can quit and speak out against the tariffs. He'll be fine.

Oh, he doesn't want to quit unless he has another job lined up? Pussy.

by Anonymousreply 14April 5, 2025 3:07 AM

Oh please, the leopard ate your old prisspot face too.

by Anonymousreply 15April 5, 2025 3:10 AM

Just quit and then sail away to play pinochle with Ken Lay and Jeffrey Epstein.

by Anonymousreply 16April 5, 2025 3:15 AM

Then why doesn't he? Why wallow in this pig sty when you don't have to?

by Anonymousreply 17April 5, 2025 3:27 AM

At this point, what is the possible reason to stay? It's not just that nobody believes a word he says about these stupid tariffs. It's that nobody believes that he believes a word he's saying about this whole stupid thing. Everyone in the world knows there is literally one man that likes the Trump Tariffs, and that's Trump. Usually, you can kind of fake it and provide cover for even the stupidest presidential decisions. But in this case, there is just no point in anybody keeping up the charade.

by Anonymousreply 18April 5, 2025 3:31 AM

Pussy

by Anonymousreply 19April 5, 2025 4:23 AM

^^^Grabbed

by Anonymousreply 20April 5, 2025 4:28 AM

[quote] Bessent is worth $800 million.

Not anymore, he's not.

by Anonymousreply 21April 5, 2025 2:33 PM

Everything near Dumpf dies. No one escapes.

by Anonymousreply 22April 5, 2025 6:08 PM

Trump is like Sonny on General Hospital.

by Anonymousreply 23April 5, 2025 6:27 PM

[quote]in the last few days he’s really hurting his own credibility and history

He's realizing this now?

Where was he during and immediately after Trump's first term?

by Anonymousreply 24April 5, 2025 6:32 PM

Why on earth would someone with fuck you money stay?

by Anonymousreply 25April 5, 2025 6:37 PM

I suspect he was one of those dingbats that thought, well, we'll get the right people around him and tame him and it'll be fine r24.

Stupid. So stupid, but what can you do when even intelligent people are determined to be complete morons about someone? Or when people are so fucking obsessed with tax cuts for the rich that they can't see anything else?

by Anonymousreply 26April 5, 2025 6:48 PM

He's in Hell if he stays and in Hell if he goes.

If he goes, he's looking at the reality that he'll be a footnote, hell, a toenote, in history as not lasting even 2 months as a US Treasury Secretary, a post made prestigious by Alexander Hamilton.

And who knows what kind of social ostracism he'd have to endure, especially if Trump publicly shits on him.

And if he stays....

That's what he gets. As others here have pointed out, everybody deludes themselves that Trump won't treat them like he's treated others.

It's like dating or marrying somebody who has a history of not being monogamous. They may have even been upfront and told you they won't be monogamous, but you insist on believing you're the exception.

by Anonymousreply 27April 5, 2025 7:23 PM

Play stupid games; win stupid prizes.

by Anonymousreply 28April 5, 2025 7:55 PM

"I can change him, I know, I CAN! If I show how much I love and respect him, he will do his best to be like I want him to be."

by Anonymousreply 29April 5, 2025 8:02 PM

According to Maggie Haberman, he really believes in the tariffs. I'm not sure which is worse, going forward with them or doing another 180 and making the world think we change policy like most people change underpants.

by Anonymousreply 30April 5, 2025 9:46 PM

So quit. Nobody's keeping him.

by Anonymousreply 31April 5, 2025 9:47 PM

[quote]making the world think we change policy like most people change underpants

You do NOT want to see that.

by Anonymousreply 32April 5, 2025 9:50 PM

BEFORE he quits, I'd like to see a reporter ask him his opinion on the Trump's Administration on LGBTQ community. Yes, I know he's Treas Sec and this is not a question about the economy, but still, he is the highest ranking gay person in the administration. I'd like to hear his fumble on that as well.

by Anonymousreply 33April 5, 2025 9:54 PM

He's a DEI hire, R33.

by Anonymousreply 34April 5, 2025 9:55 PM

He who r30? I do believe Trump believes in them, cause he's just the kind of arrogant idiot that would. I really can't believe Scott Bessent does.

by Anonymousreply 35April 5, 2025 10:01 PM

That seems hard to believe that anyone who would actually know what Bessent was feeling would be talking to Ruhle. She's not a friendly or even neutral commentator regarding the Trump administration. It would be more credible if it were someone plausible, instead of Ruhle.

[quote]Speaking with co-host Jonathan Lemire, Ruhle first pointed out that she has been unable to find people who support Trump's decision to begin a trade war that is causing worldwide economic chaos.

Now that's believable, that she wouldn't find anyone supporting the tariffs to talk to her about it.

by Anonymousreply 36April 5, 2025 10:04 PM

Expect Trump to do a 180 next week:

A group of tech and finance leaders is heading to President Donald Trump’s Mar-a-Lago resort to “talk common sense” about his sweeping tariffs, several sources told tech journalist Kara Swisher.

by Anonymousreply 37April 5, 2025 10:09 PM

Yes R35. I was referring to the president, not Bessent.

But I find it hard to believe that they didn't discuss tariffs when Bessent was interviewing for the job. It all just looks chaotic, which it is.

by Anonymousreply 38April 5, 2025 10:09 PM

How cute, the "tech and finance leaders" think Trump will listen to them. Suckers never learn.

by Anonymousreply 39April 5, 2025 10:11 PM

[QUOTE]You do NOT want to see that. —Melania

Oh, Melania, stop playing the aggrieved victim. He's has Walt Nauta for that task for years now.

by Anonymousreply 40April 5, 2025 10:13 PM

R37, Trump was schooled in and fully embraces Roy Cohn's approach of never apologizing or admitting you're wrong. So the brologarchs will have to find him "wins," even if they are substantively meaningless, to get him to declare MAGA victory, even if that is substantively meaningless.

by Anonymousreply 41April 5, 2025 10:13 PM

My prediction is that he will announce a few “negotiations” with countries and then revoke the tariffs. He has been fooled by Peter Navarro (who is a crackpot) and doesn’t want to look foolish.

by Anonymousreply 42April 5, 2025 10:17 PM

Trump's revenge, he's made over $800 million on transfer fees for his $Trump shitcoin - while everyone who owns it has been steadily losing their money. That's all he needs to know about crypto - free money for me. He doesn't care if he tanks the economy.

by Anonymousreply 43April 6, 2025 8:12 AM

Lutnick lobbied hard for Treasury, after losing he became even more of an obnoxious douche, who now has everyone in the WH hoping Trump will can him. He needs to move on that before Bessent bails, or Lutnick will probably weasel his way in as a replacement.

by Anonymousreply 44April 6, 2025 8:26 AM

[quote][R37], Trump was schooled in and fully embraces Roy Cohn's approach of never apologizing or admitting you're wrong. So the brologarchs will have to find him "wins," even if they are substantively meaningless, to get him to declare MAGA victory, even if that is substantively meaningless.

True; there was a story in the NYT about automakers coming to Trump about the tariffs and how he refused to change them because it would hurt his Strong Man cred & because he wanted industries to come begging to him & he could decide who gets a tariff and who doesn't. So you're right - they're going to have to offer up some "wins" to him otherwise, he'll continue to hold the markets hostage

by Anonymousreply 45April 6, 2025 9:35 AM

Did they cry as they begged him?

by Anonymousreply 46April 6, 2025 11:03 AM

This is a Facebook post by Alt National Park Service. It puts actual context into WHY Trump is doing something that seems so destructive; because he needs the destruction to grab more power. Please read...

"Trump recently declared a national economic emergency under the International Emergency Economic Powers Act (IEEPA) — granting himself sweeping authority over international trade by labeling foreign economic practices an “unusual and extraordinary threat.” But here’s the real play: by declaring a national emergency, Trump didn’t just respond to a crisis — he created one. And in doing so, he unlocked access to over 120 statutory powers scattered throughout federal law. Many of these powers have nothing to do with trade — and everything to do with expanding presidential authority inside the U.S.

What This Move Enables: Expanded Domestic Powers

1. Control of Domestic Communications - 47 U.S.C. §606(c): Allows the president to take control of, shut down, or regulate wire and radio communications — including the internet, social media platforms, broadcast networks, and telecom infrastructure — in the name of national defense. Originally intended for wartime, this Cold War-era law remains on the books.

2. Asset Freezing and Financial Surveillance - Under IEEPA and related laws, the president can freeze the assets and bank accounts of individuals or organizations accused of aiding foreign threats. These powers are vague and can be stretched to include domestic political groups, journalists, or activists — especially if they’re perceived as having foreign ties or influence.

3. Domestic Military Deployment - Under the Insurrection Act (10 U.S.C. §§ 251–255), the president can deploy active-duty U.S. military to enforce laws or suppress civil unrest within the country. In certain scenarios, this can be done without state governor consent — especially if the president claims state authorities are failing to uphold federal law.

4. Emergency Detention Powers (Non-Citizens) - The Alien Enemies Act (50 U.S.C. §21) — a law dating back to 1798 — allows the president to detain or restrict the movement of non-citizens from nations deemed hostile. The criteria for “hostile” can be broad and undefined during a declared emergency.

5. Control of Energy and Transportation - Under laws like 42 U.S.C. §6272 and others, the president can redirect or restrict domestic fuel production, electricity usage, or energy transportation. Additionally, 49 U.S.C. §40106(b) allows the president to limit, reroute, or suspend civil aviation, giving the executive branch near-total control over U.S. airspace in a crisis.

6. Suspension of Labor Regulations - During a declared emergency, the president can waive federal labor regulations and override contract protections. This includes removing limits on hours, wages, and workplace safety for federal contractors and any industries deemed vital to national security.

7. National Security Letters & Warrantless Surveillance - Emergency declarations expand the reach and use of National Security Letters (NSLs) — tools that let federal agencies demand financial, telecom, and internet records without a warrant. These also come with gag orders, preventing the recipient (e.g., Google or a bank) from disclosing that they’re under surveillance."

More at link.

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by Anonymousreply 47April 6, 2025 12:04 PM

R36, I actually used to know Scott and (even more) his husband John a little bit. He’s very well known in NYC financial circles and was always a liberal prior Trump derangement (he worked for Soros). So it wouldn’t be that surprising for Ruhle, an Upper East Sider (like Scott used to be) with deep financial connections to know things.

by Anonymousreply 48April 6, 2025 12:09 PM

[quote] was always a liberal prior Trump derangement

R48, is Bessent just a greedy opportunist? Why would he throw over ethics and morals to work for Trump?

by Anonymousreply 49April 6, 2025 12:35 PM

When he accepted, I am sure Bessent thought that he would be doing it "to serve the country." And perhaps he thought the shit show was not really one behind the scenes or that he could immune himself from it. Well, now he knows the shit has hit the fan, and he cannot immune himself from the craziness.

And how can he look at himself in the mirror as a gay man, while serving a homophobic movement? I cannot answer that one, except all that interests him is money. Sad.

by Anonymousreply 50April 6, 2025 12:44 PM

R49, I never knew him well, but he always struck me as odd. A true eccentric. He moved his family to South Carolina during COVID, into this garish pink palace of a house. He seems to make odd choices.

by Anonymousreply 51April 6, 2025 12:47 PM

[quote] He seems to make odd choices.

Cannot argue with that.

by Anonymousreply 52April 6, 2025 12:51 PM

[quote] That seems hard to believe that anyone who would actually know what Bessent was feeling would be talking to Ruhle. She's not a friendly or even neutral commentator regarding the Trump administration.

To add to r48's interesting nugget of info, if there is one thing in common about all of those who are in Trump's immediate orbit, except MAYBE Susie Wiles, with assured non-attribution, they blab to members of the media.

How does anybody think Maggie Haberman of the NY Times and CNN gets her scoops? She's shown that she will not disclose sources. Even Trump has been a source for Haberman. He said so himself during his first term.

I find it very easy to believe Ruhle's sources and that she has the goods on the Bessent wants out story.

by Anonymousreply 53April 6, 2025 12:57 PM

Never underestimate the way wealth overpowers everything else. I’m friends with a lot of extremely wealthy people who are themselves appalled by Trump, but they are far more willing to overlook politics if it’s in service of their finances/businesses.

by Anonymousreply 54April 6, 2025 1:05 PM

If Bessent actually is smart, it’s logical to think that he wants out. Trump’s formula for tariffs is shocking in its ineptitude. I totally believe they used ChatGPT to develop it. The prior trade order allowed Americans to achieve wealth and have access to affordable goods. It’s a giant red flag that Trump cannot say WHEN this new supposed era of wealth will be ushered in. It would take years beyond his term to increase US manufacturing and a giant investment in training, if even possible, so he’s talking out of his ass.

by Anonymousreply 55April 6, 2025 3:55 PM

[quote] he’s talking out of his ass.

What was your first clue?

by Anonymousreply 56April 6, 2025 4:18 PM

It's that "extremely wealthy" that gets me r54. It's people who can literally afford to take a dent in their ridiculous finances who always seem least likely to vote any other principle than Gimme! People just suck ass so many times.

by Anonymousreply 57April 6, 2025 4:23 PM

MAGA delusion

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by Anonymousreply 58April 6, 2025 5:17 PM

And contradictory MAGA messaging.

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by Anonymousreply 59April 6, 2025 5:24 PM

Peter Navarro wrote most of the economic part of Project 2025. People like Bessent should know better. But they prefer to lick Trump's nutsack.

by Anonymousreply 60April 6, 2025 5:24 PM

Scott Bessent has fallen into the trap of so many rational and competent people before him- Mattis, Tillerson, Kelly, McMaster, Cohn, Barr, et al.- that if the president calls, you accept to serve the country and the Constitution.

They stay because if I leave, he is going to replace me with a more malleable figure.

Marco Rubio and Kevin Hassett are in the same boat. If they leave with TWO months, they are footnotes in history. If they stay, they are fighting a delusion President and his loyalist advisers who only care about their own power and wallet.

by Anonymousreply 61April 6, 2025 5:35 PM

"US Treasury Secretary Scott Bessent on Sunday struck a defiant tone in the face of global financial markets selling off sharply in response to new US tariffs, arguing the duties were necessary and rejecting the idea that they would cause a US recession.“I see no reason that we have to price in a recession,” Bessent told NBC’s Meet the Press with Kristen Welker. Bessent — along with Commerce Secretary Howard Lutnick and White House trade czar Peter Navarro in separate comments — gave no indication that President Donald Trump was willing to back down on the sweeping new tariffs he introduced last week. He said more than 50 countries had called the administration seeking negotiations, but any talks are going to take time."

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by Anonymousreply 62April 6, 2025 5:43 PM

[quote] But they prefer to lick Trump's nutsack.

Hey, that's my job!

by Anonymousreply 63April 6, 2025 5:54 PM

Bill Kristol:

Democrats should turn down all TV invitations and tell the bookers simply to have on Bessent, Lutnick, or Hassett instead. Those guys do far more damage to Trump than any of his critics.

by Anonymousreply 64April 6, 2025 6:09 PM

He keeps stepping deeper into it.

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by Anonymousreply 65April 6, 2025 8:31 PM

R65 The hardcore crypto bros are all salivating over this as the beginning of the end of fiat currency. When some of the richest people in the world have drunk the kool-aid, who's going to tell them otherwise?

by Anonymousreply 66April 7, 2025 1:48 AM

God that's scary shit R47.

by Anonymousreply 67April 7, 2025 2:14 AM

I just watched Bessent on Meet the Press and he didn't do a very good job of it. Sort of stuttering and at a loss for words at times. It's clear he knows that the tarrifs and Trump economic direction is bad and he's not a very good liar - unlike most of the rest of the Trump administration. I'm unsurprised he's looking to quit. I'll be even less surprised if Trump fires him in the next few days after it being leaked to the press that he's looking to quit. Whoever replaces him will probably be even worse.

by Anonymousreply 68April 7, 2025 2:29 AM

Bessent appears to have won this one, despite Musk's ad hominem name calling hissy fit. Take the hint Elon, time to go.

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by Anonymousreply 69April 24, 2025 12:41 PM

R65 Crypto has no material value, it's all just speculative and promulgated by charlatan promoters and those who want to be at the top of the pyramid scheme. As someone who has an extensive anti-money laundering background, I see crypto as a products for two types of people; speculative investors who are hoping to get rich quick, and criminals looking to hide and move their money around. No true government regulations, great for tax evasion, terrorist financing, illegal campaign contributions, human trafficking, etc.

The fact that Bennett as Treasury Secretary is attempting to give more legitimacy to crypto should be disturbing to all common sense Americans.

by Anonymousreply 70April 24, 2025 1:06 PM

Fucking cunts

by Anonymousreply 71April 24, 2025 2:07 PM

[quote]Crypto has no material value

I think you mean 'no intrinsic value'. But neither does the dollar, or any other fiat currency, have 'intrinsic value'. That disappeared when Nixon took us off the gold standard.

by Anonymousreply 72April 24, 2025 9:12 PM

The dollar is government backed by US government and the Federal Reserve Bank as legal tender for trading. Yes Nixon did take the US of the gold standard. But the FRB does have substantial reserves in gold and silver and others.

The crypto has zero value. Zero.

by Anonymousreply 73April 24, 2025 10:15 PM

Actually, one bitcoin is worth about $92,000.

by Anonymousreply 74April 24, 2025 10:25 PM

sorry, $93,500

by Anonymousreply 75April 24, 2025 10:26 PM

And when (not if) bitcoin crashes and people lose entire fortunes due to an unregulated currency, whose fault will it be?

by Anonymousreply 76April 24, 2025 10:46 PM

mmm hmmm

people have been saying that for a long time ...

by Anonymousreply 77April 24, 2025 10:57 PM

If you consider the thousands of crypto "currencies" that are available, even the most bullish crypto fans concede that the majority of them are worthless. When asked, what if anything ultimately distinguishes them from the most widely held coins, other than their adoption rate, it's usually all about use cases and scarcity, none of which are especially unique.

But now our current government is busy getting rid of the little existing regulations and oversight on crypto trading, and they've even proposed picking winners and losers when establishing a federal crypto reserve. Next time there's an FTX-sized event, and the new climate almost ensures that will occur, guess who will be screaming about justice and accountability for the fraudsters, and clamoring to be made whole.

by Anonymousreply 78April 24, 2025 11:57 PM

Well, the large majority of internet start-ups around 2000 crashed and burned, too.

But Google, EBay and Amazon didn't.

by Anonymousreply 79April 25, 2025 9:35 PM

Where do you get these talking points? Karoline Leavett?

by Anonymousreply 80April 25, 2025 11:17 PM

How is Miss Bessent feeling now that his boss is arresting judges? What a strange turn for you.

by Anonymousreply 81April 26, 2025 12:33 AM
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