Silence from Trump Voters is Deafening as Trump Continues to Disappoint: Trump Picks Billionaire Steven Mnuchin, Operator of “Foreclosure Machine,” for Treasury Secretary


Trump Picks Billionaire Steven Mnuchin, Operator of “Foreclosure Machine,” for Treasury Secretary

 2016

H01 mnuchin

President-elect Donald Trump has announced a handful of new Cabinet picks. On Tuesday, he named billionaire Steven Mnuchin to be treasury secretary. Mnuchin has deep ties on Wall Street, including working as a partner for Goldman Sachs, where his father also worked. Mnuchin’s hedge fund also played a role in the housing crisis, after it scooped up the failing California bank IndyMac in 2008. Under Mnuchin’s ownership, IndyMac foreclosed on 36,000 families, particularly elderly residents trapped in reverse mortgages. Mnuchin was accused of running a “foreclosure machine.” The bank, which was renamed OneWest, was also accused of racially discriminatory lending practices. In 2015, Mnuchin sold the bank for $3.4 billion—$1.8 billion more than he bought it for.

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About eslkevin

I am a peace educator who has taken time to teach and work in countries such as the USA, Germany, Japan, Nicaragua, Mexico, the UAE, Kuwait, Oman over the past 4 decades.
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