Steven Mnuchin

Samantha Bee Introduces You To Trump's Swampy Treasury Secretary, Steve Mnuchin

... renamed One West subsequently foreclosed on 36,000 people, specializing in "widow foreclosures" on reverse mortgages. Bee showed a few of the sadder foreclosure tales from One West's rampage. The bank's future now lies in the hands of the Housing and Urban Development Department — and thus, probably, Dr. Ben Carson. Bee despaired. She ended her look at the likely next treasury secretary by showing him talking about wanting to scrap the financial regulation put in place to prevent another big banking collapse. "Lets hope and pray that the next four years will be like Steve's film Suicide Squad, where the group of bad guys end up actually saving the day," Bee said. "But it will probably be like Steve's film Entourage — most people didn't want it, it disappointed those who did, and it only helped those who were directly involved in it." Watch below — and be warned, there is some NSFW language. Peter Weber. 12:08 a.m. ET. Izzy went from having one owner to dozens, after she was adopted by the residents of the Brookdale Kingston assisted living community in Tennessee. Izzy, a 10-year-old mixed breed with vision problems, moved to ...

Steven Mnuchin Deflects Fierce Scrutiny From Democrats During Senate Hearing

... estimates that 20,000 to 25,000 people were at the "We Stand United" rally, Deadline reports. "We Americans, we New Yorkers, we patriots will stand united for our rights and the rights of our fellow citizens," De Niro told the crowd, while Cher said, "The only thing that can save us is you. Nothing happened to stop Vietnam until we got into the streets. The power of the people is bigger than the a—holes who are there in Washington.". Mexican drug lord 'El Chapo' extradited, lands in New York for trial. On Thursday, Mexican authorities handed notorious drug cartel chief Joaquin "El Chapo" Guzmán over to U. S. Drug Enforcement Administration agents in Ciudad Juarez, Mexico, and the DEA flew him to New York City to face federal charges of drug trafficking, money laundering, weapons, and running a criminal enterprise. El Chapo landed at a ...

Trump Picks Steven Mnuchin And Rick Perry Face Confirmation Hearings

... Two more of President-elect Donald Trump’s Cabinet picks face questions today on Capitol Hill. Former Goldman Sachs banker Steven Mnuchin , Trump’s pick for treasury secretary, and former Texas Gov. Rick Perry  (R), his choice to lead the Department of Energy , both face questions today. A slew of Trump picks faced confirmation hearings earlier this week, including Ryan Zinke to head the Department of the Interior; Betsy De Vos for secretary of education; Scott Pruitt to lead the Environmental Protection Agency; Tom Price for secretary of health and human services; Wilbur Ross to lead the Commerce Department; and Nikki Haley for U. S. ambassador to the United Nations. Read the latest updates below. Also on Huff Post. 8 Reasons To Worry About Rick Perry Running The Department Of Energy. He ...

Regulation Is Killing Community Banks

... enacted after the 2008 financial crisis had some unexpected negative consequences. SIGN UP FOR OUR NEWSLETTER. Mnuchin ran through a list of regulatory agencies — “the OCC, the FDIC, Consumer Protection Bureau, the Federal Reserve”— and noted that “in certain cases, there is overlapping regulation.”. “My biggest concern, and I fully support regulation for banks with FDIC insurance, but my biggest concern is that this regulation is killing community banks,” he said. “We’re losing the community banking business. We’re losing the ability for small and medium-sized banks to make good loans to small and medium-sized businesses in the community, where they understand those credit risks better than anybody else.”. “I think that we all appreciate the engine of growth is with small and medium-sized businesses. In my role at FSOC, in working with the different regulators, I would ...

Mnuchin, Perry Face Senate Confirmation Hearing

... Glass-Steagall” is also the title of a bill put forward by Ms. Warren that would force megabanks to split themselves into distinct entities separating bread-and-butter lending from investment banking. President-elect Donald Trump called for Glass-Steagall once on the campaign trail, but the issue hasn’t received much attention from his advisors since - until Thursday. Mr. Mnuchin didn't bring up the idea on his own and only addressed it after Sen. Maria Cantwell (D., Wash.) asked him if he would support reinstituting Glass-Steagall. While he avoided specific policy commitments, Mr. Mnuchin espoused a general philosophy that mingling bank lending with other activities, such as complex mortgage securities, could have risky implications. “One of the big problems we had during the financial ...

The American Dream Is In Steven Mnuchin’s Hands

... Whalen, an analyst at Kroll Bond Rating Agency, told The Post. “The US taxpayer has put $200 billion into the two enterprises. You can’t just leave it there and let the … trolls wander off with John Paulson.”. Mnuchin’s comments come one week after Ben Carson, Trump’s pick to lead Housing and Urban Development , said he thought companies didn’t need a government backstop to offer 30-year mortgages. “They all think that you can privatize these things. You can’t,” Whalen said. “There would be no national market for 30-year mortgages.”. The US is one of two countries where homebuyers can get a 30-year mortgage, in large part because Fannie Mae and Freddie Mac backstop risks for banks. In other Wall Street-related testimony, Mnuchin said he supported the Volcker Rule, which prevents banks from trading with their own money, and keeping companies like Apple from parking ...

Steven Mnuchin Testifies

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U.s. Treasury Nominee Mnuchin Hammered Over Offshore Tax Havens

... fund clients to invest in his funds, not to avoid taxes. But Mnuchin, 54, added that it "makes no sense" for the U. S. tax code to encourage the use of such entities. "In the hedge fund world these are only set up to make the accountants rich and I would love to work with the IRS to close these tax issues that make no sense.". Among the incoming Trump administration's top economic priorities is a massive tax reform effort aimed at lowering rates for businesses and individuals and closing many deductions and credits. Mnuchin, who insisted his last-minute disclosures were not intentional but due to the complexity of his holdings, complicated federal forms and a lawyer's advice that the real estate disclosure was not required, also tried to clarify Trump's recent market-moving comments on the U. S. dollar. The Republican ...