Steve Mnuchin expected to be named treasury secretaryhttp://www.npr.org/2016/11/29/503755613/trumps-potential-treasury-secretary-headed-a-foreclosure-machine
In another of the endless line of contradictions between what Trump said, and what he is now doing, Trump is expected to appoint Steve Mnuchin as Secretary of the Treasury. After relentlessly harping on Clinton's connection to the big banks, and Goldman Sachs in particular, who does Trump choose for Treasury Secretary? One of the biggest big bank insiders from that same Goldman Sachs. So much for draining the swamp and waging war against big banks. Trump is such a fraud.
"During the depths of the financial crisis, Mnuchin was looking to make profits from the ruins of the housing bust. In 2009, he put together a group of billionaire investors and bought a failed California-based bank, IndyMac. It had been taken over by the Federal Deposit Insurance Corp. after its sketchy mortgage loans went bad.
Mnuchin and his partners bought IndyMac on the condition that the FDIC agree to pay future losses above a certain threshold. They renamed the bank OneWest Bank and, after running it for 6 years, they sold it last year for a profit, estimated at close to $1.5 billion.
Kevin Stein of the California Reinvestment Coalition, a housing advocacy group, says that profit was made on the backs of suffering California homeowners. "In essence what they did is they bought a foreclosure machine," he says."