A unique aspect of Omeed Malik’s Executive Branch Social Club in Washington, D.C. is its policy against allowing reporters. This rule has helped draw in high-profile magazine clientele, many of whom tend to be skeptical of the media, particularly the Washington Press Corps.
What Malik didn’t anticipate, however, is that some of these members, who aren’t fans of mainstream media, would become sources for it instead.
He’s striving for a sense of neutrality, but he’s baffled by the leaks about imminent scuffles that seem to find their way to the press.
“Omeed assured his clients that there wouldn’t be any journalists at his club, yet they still leak to the media—that’s amusing,” said a source close to the situation. “We can’t address this.”
Recently, reports emerged that Treasury Secretary Scott Bescent, known for his typically calm demeanor, allegedly threatened to punch House finance chief Bill Pulte. It appears that some of the top players within the White House are eagerly waiting for Bessent to make his move, given that Pulte is viewed as somewhat of a propagandist.
One insider described the mood in the White House, saying, “The general sentiment was that Scott would’ve given that little guy a good beatdown, and people would’ve paid to see it,” according to someone in the president’s inner circle.
This near altercation unfolded before a dinner event for powerful magazine figures. An eyewitness claimed Bescent confronted Pulte during cocktails, exclaiming, “Why is F-K talking to the president about me? F-K.” He then added, “I’m going to punch your F-King face.”
As tensions heightened, Malik, who co-owns the club and has his own ties to MAGA circles, had to intervene.
Bescent warned Pulte, “We can take this outside… I’m going to beat your ass,” as reported by Politico.
“(Malik) That definitely escalated quickly,” noted the witness.
Bessent, Pulte, and Malik have not commented on the incident.
Despite being an active presence on social media, Pulte often shares insights ranging from the housing market to critiques of Federal Reserve Chairman Jerome Powell.
Bessent has accused Pulte of undermining Trump, especially after he warned the president that the market might suffer damage.
Although many in the MAGA base have moved on, they still seem to appreciate leaders over six feet tall.
It’s unfortunate that Trump wasn’t present to host the gathering. Bessent is one of his trusted advisors, but the president has also expressed support for Pulte’s recent vocal criticisms of Powell, suggesting he should resign, even if many in the administration disapprove of Pulte’s antics.
While the details of the feud are still somewhat unclear, it seems that Pulte’s ambitious plans to privatize Fannie Mae and Freddie Mac have rubbed Bessent the wrong way. Bessent pointed out that since the 2008 financial crisis, the Treasury has effectively overseen the mortgage giants.
Pulte enjoys backing from significant figures in the White House, including Commerce Secretary Howard Lutnick and Trump himself. Still, there’s a prevailing sentiment that selecting Pulte to lead a crucial finance agency overseeing an $8 trillion mortgage market was a peculiar choice.
Once a journalism graduate, Pulte dabbled in private equity before his tumultuous stint with the family-owned construction firm, the Pulte Group, which severed ties with him in 2020 after a management dispute.
In recent years, he has found himself embroiled in various contentious social media skirmishes, often defending risky meme stocks that have plummeted in value. It seems Pulte and his critics often face off on platforms like Fox Business.
Pulte described the meme stock movement as a backlash from average investors who feel disenfranchised by the financial system, arguing it’s unfair for corporate leaders to enrich themselves while companies falter.
He has garnered significant attention from Trump due to his contributions, totaling over $1 million in recent years.
“Trump had a penchant for mortgage scheming,” remarked a source within the magazine circles. Still, a sentiment persists that it would be wise for the president to distance himself from Pulte, perhaps even removing him from the FHFA leadership to mitigate potential scandals.
