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Under formal House investigation; deal now central obstacle to Senate crypto legislation
Treasury Secretary Scott Bessent's February 2026 congressional testimony shattered norms of Treasury oversight: two days of shouting matches with House Democrats (Maxine Waters asking to 'shut him up,' Gregory Meeks calling him a 'flunky'), followed by heated Senate Banking Committee exchanges where Democratic Senator Jack Reed called his conduct 'childish' and Senator Elizabeth Warren pressed him on whether Fed nominee Kevin Warsh would face investigations if interest rates aren't cut as Trump demands. Bessent refused to clarify, prompting Warren to call the situation 'an even taller steaming pile of corruption.' The hearings devolved into what one former Treasury official called a role 'you typically don't see a treasury secretary play.'
Updated Feb 5
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