Nominating Mnuchin for Treasury Will Dredge Up Mortgage Meltdown Controversies

  • Former Goldman partner ran bank dubbed a ‘foreclosure machine’
  • He’s said to be leading candidate for Treasury secretary

Trump Treasury Contender Mnuchin's Mortgage Mess

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Dubious lending practices. Bailouts. Foreclosures. Robo-signing. Huge executive paydays. If Steven Mnuchin is nominated for Treasury secretary, his confirmation process promises to dredge up every controversy of the U.S. mortgage meltdown almost a decade ago.

Mnuchin is a former Goldman Sachs Group Inc. partner and movie financier with no government experience who spent the past six months working as Donald Trump’s chief fundraiser. Trump’s transition team recommended Mnuchin for the Treasury job, people with knowledge of the matter said last week, and a decision could come any day. The part of his background that’s likely to get the most scrutiny is the six years he spent running OneWest Bank, a Southern California lender.