President-elect Donald Trump’s pick for Treasury Secretary operates a hedge fund that reaped a massive windfall two years ago — even as global markets sagged.

Scott Bessent is Donald Trump's pick for Treasury secretary. Bessent was a protege of Jewish billionaire George Soros. – The Forward

Politics are shunted to the side. Wooden wanted to win, so did Walton and Alcindor. For coach or players to have allowed politics to get in the way of coaching, improving and winning would have been self-defeating for all concerned.

WASHINGTON -- Trump says he will nominate former George Soros money manager Scott Bessent to lead the Treasury Department.

Bessent, an advocate for deficit reduction and deregulation, is a past supporter of Democrats who has become an enthusiastic supporter of Donald Trump.

In the hedge fund industry, Bessent is respected for his consistent track record and his ability to maintain strong relationships with key figures like George Soros. His success in transitioning from managing one of the world's most famous investment portfolios to building his own successful firm has cemented his position as a significant figure in the global investment community.

President-elect Donald Trump has selected investor Scott Bessent as his nominee for Treasury secretary, putting forth a campaign trail partner and early frontrunner for the job after a long and contentious process. The contest for Treasury secretary has emerged as a key stumbling block in Donald Trump's presidential transition period.

When Donald Trump announced Friday that hedge fund manager Scott Bessent was his pick for Treasury secretary, there was a massive sigh of relief from the markets, with the yield on the 10-year Treasury falling sharply (a sign that investors think Bessent will help keep inflation cool) and the stock market getting a little bump.

President-elect Donald Trump has referred to his Treasury pick, billionaire hedge fund manager Scott Bessent, as "one of the most brilliant men on Wall Street."