Mnuchin Nomination for Treasury Shines Harsh Light on U.S. Politics

Over the span of the last two weeks, President-elect Donald Trump’s U. S. Treasury Secretary nominee, Steven Mnuchin, has been the subject of multiple, scathing investigative reports by the media; earned a web site established by Senate Democrats dubbing him the ‘Foreclosure King’ and soliciting complaints from the public; garnered a television ad campaign directed against him; and has been skewered by a devastating document leaked by someone currently or formerly connected to the California State Attorney General’s Office, indicating that the bank Mnuchin ran from 2009 to 2015, OneWest, repeatedly violated California foreclosure law, including backdating documents and making illegal bids, in order to throw thousands of vulnerable people out of their homes.
Mnuchin is also a former Goldman Sachs partner and hedge fund operator who has never held public office before. His rapid rise to nominee for one of the highest posts in the U. S. government, which will also put him atop the Financial Stability Oversight Council (F-SOC), appears to be hinged to raising millions of dollars for Trump’s political campaign as his National Finance Chairman. To millions of Americans, this looks like an unseemly political quid pro quo.
In a press release, Democratic Senator Jeff Merkley had this to say about the nominee:
‘Donald Trump’s choice of Mnuchin is not only a fundamental betrayal of his promise to stand up to Wall Street – it is a punch in the gut to the thousands of American families who were thrown out of their homes by Mnuchin’s bank. The voices of these Americans should be heard loud and clear as the Senate examines his record and considers his nomination.’
Senator Bernie Sanders weighed in with this:

This post was published at Wall Street On Parade By Pam Martens and Russ Marte.