Donald Trump's pick of ultra-wealthy ex-Goldman Sachs banker and foreclosure profiteer Steve Mnuchin to join his crony cabinet as Treasury Secretary is the ultimate hypocrisy.
After all, Trump spent his campaign attacking the “financial elite” like Goldman Sachs and pretending to be a populist man of the people.
Elizabeth Warren and Bernie Sanders are working together to ring the alarm bells: The Senate is the last line of defense to prevent Wall Street insider Steve Mnuchin from ripping up the rules protecting ordinary Americans from the big banks’ recklessness.
Sign the petition to tell the Senate: Reject foreclosure profiteer and Wall Street insider Steve Mnuchin as Treasury Secretary.
Like Trump, Steve Mnuchin (pronounced Mi-NOO-chin) has made a career getting rich at the expense of the little guy.
- He ran a “foreclosure machine” that foreclosed on over 36,000 homes. Mnuchin’s OneWest Bank was notorious for kicking the elderly out of their houses.
- His foreclosure techniques were so coldblooded a federal judge called them “harsh, repugnant, shocking and repulsive.” He foreclosed on an elderly woman for a payment error of 27 cents. And a Minnesota woman was negotiating with Mnuchin’s OneWest Bank on a payment plan, only to come home in the middle of a blizzard to find the locks on her house changed.
- He’s the ultimate Wall Street insider. Not only was Mnuchin a Goldman Sachs executive, so was his father. And he sits on the board of a bank that’s been designated “too big to fail” and lost $2.3 billion in taxpayer bailout dollars.
- He pocketed $3.2 million in fake profit from Bernie Madoff’s Ponzi scheme. Mnuchin and his family pulled their money out of Madoff’s Ponzi scheme early enough that defrauded investors tried to sue him but couldn’t get their money back.
- He’s promised to attack the Dodd-Frank rules reining in reckless abuse by big banks and helping prevent Wall Street from melting down the economy. In his first appearance as Treasury Secretary nominee, Mnuchin called attacking Dodd-Frank Wall Street reform “the number one priority on the regulatory side.”
It’s clear: A vote to confirm Steve Mnuchin as Treasury Secretary is a vote to let Wall Street write the rules of the economy – so that big banks can run wild once again and stomp all over working Americans.
Tell the Senate: Reject foreclosure profiteer and Wall Street insider Steve Mnuchin as Treasury Secretary.
Trump picking Steve Mnuchin to run the economy isn’t just hypocritical, it’s the ultimate pay-to-play corruption.
As Trump’s national finance chair, Mnuchin led the effort to raise hundreds of millions of dollars for Trump’s campaign – and personally donated $425,000. As a reward, Trump is putting him in arguably the most powerful economic position in the world.
Here’s the thing: We can still block Steve Mnuchin in the Senate. If Democrats stand together against this terrible pick, it will only take flipping a few principled Republicans to keep Mnuchin out of power.
But Wall Street lobbyists are salivating at having a Wall Street insider in charge – and trying to convince every Senator they can find.
We need to send a message LOUD AND CLEAR that ordinary Americans won’t tolerate this for a second.
Sign the petition: Tell the Senate to reject foreclosure profiteer and Wall Street insider Steve Mnuchin as Treasury Secretary.
1. Huffington Post, "Progressives Blast Donald Trump’s Treasury Pick," November 30, 2016.
2. Bloomberg, "Nominating Mnuchin for Treasury Will Dredge Up Mortgage Meltdown Controversies," November 22, 2016.
3. American Prospect, "Steve Mnuchin: Evictor, Forecloser, and Our New Treasury Secretary," November 30, 2016.
4. Politico, "Trump Treasury pick made millions after his bank foreclosed on homeowners," December 1, 2016.
5. Think Progress, "Meet the victims of Steve Mnuchin’s ‘foreclosure machine,’" December 1, 2016.
6. 24/7 Wall Street, "CIT’s $3.4 Billion Buyout Makes It Systemically Important to Regulators," July 22, 2014.
7. The Street, "CIT TARP Wipeout is Official," February 9, 2010.
8. Bloomberg, "Trump's New Finance Chief Cashed Out Madoff Ponzi Profits," May 6, 2016.
9. Politico, "Dodd-Frank will be targeted, Mnuchin says," November 30, 2016.