Trump Treasury Pick Mnuchin Was Predatory Foreclosure Guru

Donald Trump’s choice of financier Steve Mnuchin to be his Treasury secretary is attracting major controversy.

Mnuchin led the hedge fund Dune Capital Management, which earned him the funds to become Trump’s head fundraiser and he now operates as a member of the presidential transition team

Mnuchin and his partners bought IndyMac bank in 2009, renamed it OneWest Bank and sold it in 2015, making a $1.5 billion profit.

Much of the money Mnuchin and his insiders made was on the backs of California homeowners suffering due to the mortgage crisis.

Kevin Stein of the California Reinvestment Coalition told NPR, “What they did is they bought a foreclosure machine.”

Under Mnuchin, OneWest Bank foreclosed on over 36,000 homeowners and the bank received payments totaling more than $1 billion from the Federal Deposit Insurance Corp.  (FDIC).

Stein explained, “Mr. Mnuchin oversaw a bank that created difficulties and financial ruin for tens of thousands of families.”

For more news like this follow on Twitter or Facebook

Don't Blame Me, I Voted For Clinton T-Shirts
Don't Blame Me, I Voted For Clinton T-Shirts

  • postlapsarian2016

    Are you still looking for a good hashtag to express Clinton winning the popular vote? One that would rankle Trump? You should consider #schlonged, as in “Man, Trump really got #schlonged by Clinton.” After all, he thought that was a good way to refer to her in 2008….