Scott Bessent’s Mentor Warns Treasury Bond Buybacks Are ‘Mistake’

August 25, 2026 8:53 AM ET Billionaire investor Stanley Druckenmiller, who mentored Treasury Secretary Scott Bessent during their years working together at George Soros’ hedge fund, warned Monday that the Treasury Department’s expanded bond-buyback program amounted to an attempt to manipulate prices and could undermine the government’s fiscal credibility.Treasury announced Wednesday that it would double the size of its long-dated Treasury buybacks from $2 billion to at least $4 billion per operation, targeting bonds with maturities between ten and 30 years. The announcement came after the 30-year Treasury yield reached a 19-year high. The move came as investors increasingly demanded higher returns to lend money to the federal government amid mounting concerns over Washington’s fiscal traje