President Obama left his successor a strong foundation on which to build real economic prosperity. If Donald Trump pursues policies that weaken it, he could end up putting the whole structure – and people’s economic security – at risk.
President Trump’s cabinet is worth a combined $14 billion, and they are catching flack in recent weeks for confessing an inability to keep track of their vast sums of wealth. Private bankers who work with the ultra rich say that if they had a dollar for every time a client forgot about a million, they would be, well, almost as rich as their clients.
Five years ago Goldman Sachs played the arch-villain of the financial crash, the very essence of a greedy, rapacious bank that profited while ripping off its own customers and the American people. Is there a way to counter the Goldman Sachs occupation of the Trump administration? The answer might be a new Occupy Wall Street movement.
In a confirmation hearing before the Senate Finance Committee, President-elect Donald Trump’s pick to lead the Treasury was attacked for failing to promptly disclose he was a director of an offshore business vehicle domiciled in the Cayman Islands and owned more than $100 million in real estate.
McConnell is the perfect partner and lying propagandist for Trump. He maintains a straight face, which never upstages the coverage of Trump’s latest antics. As Americans will soon see, many shades of darkness inhabit Trump’s Washington.
Despite his promise to unite a deeply divided country, Trump will be sworn in on Jan. 20 leading a Republican Party that early on will push legislation through Congress without significant – or any – Democratic support.
When Steven Mnuchin ran OneWest, the bank aggressively and in some cases, wrongly, foreclosed on elderly homeowners with reverse mortgages. An in-depth review of the bank shows that OneWest had a disproportionate share of such foreclosures.
A desire to fix any billionaire deficit may account for Trump’s decision to stock his administration with real-life tycoons. The way it works is that they cut him into their deals and he lets them influence tax and regulatory laws. This assumes that Trump might participate in such an unseemly trade, heaven forfend.
Steve Mnuchin was born into a family of Wall Street royalty, and he has made a career out of being “lucky.” In fact, Mnuchin has a long history of coming out ahead, even in questionable deals.
Mnuchin was part of a group that netted billions thanks in large part to a much-criticized deal that allowed the investors to buy OneWest Bank at a big discount while passing off as much as 75 percent of its loan losses on the Federal Deposit Insurance Corp.