Secretary of the Treasury Scott Bessent was met with mockery after explaining he wants to protect “mom and pop” owners who have up to a dozen homes they’ve bought as retirement investments.

Bessent and President Donald Trump have declared they want to ban large institutional investors from purchasing single-family homes as housing becomes more scarce and less affordable.

“We are going to give guidance at some point to see what is a mom and pop, that someone — maybe your parents — for their retirement, [bought] about 5, 10, 12 homes,” Bessent told Fox Business’ Maria Bartiromo at the World Economic Forum in Davos.

“So we don’t want to push the mom and pops out,” he continued. “We just want to push everyone else out.”

READ MORE: ‘Enemy Is Within’: Trump Boosts Post Casting NATO as a ‘Threat’ in Social Media Spree

Bessent, a former hedge fund manager, has an estimated net worth of $521 million, according to The Street.

Critics were quick to ridicule Bessent as out of touch.

“Good news for the forgotten man,” declared The Bulwark’s Tim Miller. “The mom and pop real estate investor who has purchased 12 homes can breathe easy, the Treasury Secretary is looking out for you.”

“These people are completely out of touch with how life is for you,” observed The Lincoln Project.

Governor Gavin Newsom’s Press Office commented, “Scott, people are trying to buy 1 house — to live in. Could the Trump Admin be any more out of touch?”

Bessent: “Someone, maybe your parents for their retirement have bought 5, 10, 12 homes.” pic.twitter.com/eUZXTmnhpH

— The Bulwark (@BulwarkOnline) January 20, 2026

READ MORE: ‘Code Red’: Newsom Tells Europe They’ve Been Played by ‘T-Rex’ Trump

While facing opposition from European leaders at the World Economic Forum in Davos, President Donald Trump took time out late Tuesday morning to go on a social media spree, including promoting a post that labeled NATO and the United Nations as threats while declaring that the “enemy is within.”

Trump’s controversial Board of Peace is “falling apart,” according to Bloomberg News UK Political Editor Alex Wickham, who reported that “The UK is not joining the board as things stand,” and that its spokesperson said the UK’s commitment to the UN is “unwavering.”

French President Emmanuel Macron has also announced that he would not join the Board of Peace, which requires at least a $1 billion donation for a country to have permanent membership — which can be rescinded by Donald Trump, who is the organization’s chairman.

“So at what point are we going to realize the enemy is within,” the post Trump promoted began. “China and Russia are the boogeymen when the real threat is the U.N., NATO and this ‘religion.’ I put ‘religion’ in quotes because it’s not a religion, it’s a cult!”

READ MORE: ‘Code Red’: Newsom Tells Europe They’ve Been Played by ‘T-Rex’ Trump

The religion mention appeared to be a reference to Islam.

Former Obama and Biden official Jesse Lee responded, writing: “So is Trump threatening to invade Greenland to counter Russia and China as he has ludicrously claimed, or is this just the beginning of his war against Europe as it seems on its face?”

Trump, or someone with access to his Truth Social account, posted dozens of posts in approximately 90 minutes.

His last post so far, at 11:47 AM ET, read: “No single person, or President, has done more for NATO than President Donald J. Trump. If I didn’t come along, there would be no NATO right now!!! It would have been in the ash heap of History. Sad, but TRUE!!! President DJT”

READ MORE: ‘25th Amendment Territory’: Critics Warn Trump Impeachment Is ‘Not Enough’

Image via Reuters 

California Democratic Governor Gavin Newsom issued what he described as a “code red” warning over President Donald Trump, citing what he characterized as a “wrecking ball” approach to the global order.

At the World Economic Forum in Davos, Governor Newsom told reporters that Europeans have been “played,” and that Trump has been “playing folks for fools.”

Calling the entire situation “embarrassing,” Newsom rejected the idea that what is happening between Trump and world leaders is diplomacy.

“This is diplomacy with Donald Trump? He’s a T-rex,” Newsom said, describing the president as a vicious dinosaur. “You mate with him, or he devours you. One of the other.”

READ MORE: ‘25th Amendment Territory’: Critics Warn Trump Impeachment Is ‘Not Enough’

Newsom warned that Europe is still playing by the old set of rules, while arguing that in actuality, “It’s the law of the jungle, it’s the rule of Don. And I hope it’s dawning on the world what we’re up against. I mean, this is serious. This guy is — he’s not mad. He is very intentional. But he’s unmoored. And he’s unhinged.”

Asked what Trump’s goal is, Newsom replied, “The goal is whatever he wants it to be. The goal is the world in his image. He’s a narcissist.”

Newsom then chastised European leaders, asking why they don’t do “what they’re saying in private?”

“Why don’t they just simply do what they know is right? Everybody’s talking behind his back. They laughing, and meanwhile they’re sucking up to him. It’s embarrassing.”

“This is not diplomacy,” the governor charged. “This is stupidity.”

California Governor Gavin Newsom tells Europeans “they’ve been played” by Trump.
Heading into the opening of the World Economic Forum in Davos he says Europeans “need to stand tall, stand firm, stand united!”
“This is not diplomacy, it‘s stupidity!”
Trump to speak at WEF… pic.twitter.com/pwbSXeMg7R

— Michaela Kuefner (@MKuefner) January 20, 2026

READ MORE: Europe Divorcing America Now Seen as ‘Inevitable’: Report