Banking and Finance Law Daily Wrap Up, OVERSIGHT AND INVESTIGATION—Raskin questions hedge fund owner on Trump Argentina bailout connection, (Nov 3, 2025)
Raskin is investigating the connections between a member of the Administration, a hedge fund owner, and the Argentinian bailout.
Representative Jamie Raskin (D-Md.), Ranking Member of the House Judiciary Committee, has sent a letter to Robert Citrone, the owner of a $2.5 billion hedge fund, Discovery Capital Management, requesting answers on Citrone’s connection to the Trump Administration’s $40 billion Argentina bailout that is happening during the federal government shutdown. Raskin alleges that the Trump Administration’s $40 billion bailout to Argentina, which is half funded by American taxpayers, appears designed to “juice a billionaire hedge fund manager’s Argentinian investors and prop up Argentina’s MAGA-aligned President.”
“It is imperative that the American people have a full understanding of why, in the midst of a government shutdown, this Administration has chosen to orchestrate a $40 billion bailout to Argentina that will benefit foreign MAGA allies and hedge fund billionaires but do nothing for the millions of Americans whose healthcare premiums are on the verge of skyrocketing or the millions of families who will no longer receive nutrition and early childhood education assistance,” Rep. Raskin writes in the letter, which is dated October 31.
According to the letter, Citrone manages a $2.5 billion hedge fund with “massive exposure to Argentinian debt.” As Argentina’s economy has worsened, press reports indicate he personally lobbied Treasury Department Secretary Scott Bessent—whose friendship to Citrone is “well known and well documented”—to intervene. Within weeks, President Trump and Secretary Bessent announced the $40 billion package, which includes $20 billion from U.S. taxpayers and $20 billion from private sources.
The letter states that the shutdown has deprived millions of federal workers—including law enforcement and air traffic controllers—of their paychecks and is threatening government programs vital to the American people like the Affordable Care Act health insurance premium tax credits, Medicaid, and SNAP nutritional benefits. But in the midst of this government-created crisis, the Trump Administration has chosen to arrange a $40 billion bailout to Argentina—half of it funded with taxpayer money.”
Documents requested. Raskin has requested all communications among Citrone, Secretary Bessent, President Trump, and President Milei related to the Argentina bailout, as well as records of Discovery Capital’s lobbying activities, and documents detailing its Argentinian holdings and projected financial gains from the taxpayer-funded intervention. Raskin also requests a briefing from Citrone or his legal representative on Citrone’s role in lobbying the Treasury Department and Secretary Bessent with respect to bailing out Argentina or any other foreign country, as well as how much money he stands to gain from the $20 billion currency swap with Argentina, and his hedge fund’s exposure to the Argentinian market over the past year.
LegislativeActivity: FinancialStability OversightInvestigations