More on who benefits from the loan. It makes little sense to do this, but I'm sure Trump will reap benefits, so it can only good happen.

Beyond Millei, China, and the Argentine treasury, critics say the bailout also stands to greatly benefit wealthy fund managers who are major holders of Argentine debts and assets.

The bailout would deliver a major windfall to Rob Citrone, a billionaire hedge fund manager with significant investments in Argentina. “Bessent’s personal and professional relationship with Citrone has spanned decades,” according to independent journalist Judd Legum.

“Trump promised ‘America First,’ but he’s putting himself and his billionaire buddies first and sticking Americans with the bill,” Warren said in a statement Thursday. Eight Democrats, including Warren, have introduced a bill in Congress to prevent Argentina’s bailout.