Campaign Action
Popular vote loser Donald Trump wants to put billionaire Steven Mnuchin in charge of the country's financial policies as Treasury secretary. One of Mnuchin's chief qualifications is that he knows a little something about fleecing vulnerable Americans—all indications are that the bank he ran from 2009 to 2015 routinely broke California's foreclosure laws to make a buck. Now a group of 25 Democratic senators has penned a letter urging the chair of the Senate Finance Committee, GOP Sen. Orin Hatch, to let victims of OneWest’s foreclosures testify at Mnuchin's confirmation hearing Thursday.
“If confirmed to serve as Treasury Secretary, Mr. Mnuchin would be responsible for administering loan modification and foreclosure prevention programs established following the 2008 crisis. And as the Chairman of the Financial Stability Oversight Council, Mr. Mnuchin would be responsible for helping spot and stop the next financial crisis – rather than profiting from it,” the lawmakers wrote.
“His bank’s treatment of families seeking to avoid foreclosure is critical to assessing his fitness to serve as the nation’s top economic policy official,” the senators said.
Mnuchin’s bank, OneWest, put thousands of families into foreclosure and seized their homes during his six-year reign as chairman following the 2008 financial collapse leading to Mnuchin and his investment team pocketing nearly $1.5 billion in profits.
Sure seems like the guy who will be setting the nation's financial policy should be questioned on his personal experience with exploiting those policies for his personal gain.