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URL:  https://boards.fool.com/you-left-out-mea-culpa-for-leaving-this-out-it-34678090.aspx

Subject:  Re: Trump "cooperating" Date:  11/25/2020  2:10 PM
Author:  laKitKat Number:  886345 of 887837

you left out

Mea culpa for leaving this out. It is one of the swampiest and ugliest parts of the Mnuchin story and deserves special honorary mention.

His OneWest bank was involved with the complex world of securitized mortgages and illegal foreclosures. The legal process for taking away the borrowers home is lengthy and takes months of legal steps that eventually let the bank foreclose.OneWest was notable for foreclosures that skirted the legal steps.

OneWest was the target of investigations that were eventually dropped in CA without comment on why. OneWest did all they could to stonewall and not cooperate. Kamala Harris's office (as AG) eventually withdrew. Mnuchin was free to keep his millions and put them in tax sheltered offshore accounts. He may have escaped through a technicality:

https://theintercept.com/2017/01/03/treasury-nominee-steve-m...

Mnuchin spokesperson Tara Bradshaw said that “state attorneys general have no jurisdiction to investigate federally chartered banks like OneWest. When OneWest pointed that out to the California attorney general’s office, they withdrew their subpoena.”


Whatever happened, Mnuchin profited hugely through computer (robo)generated foreclosures that were prone to error; they favored foreclosure and did not reflect the true state of the debt. OneWest made higher profits on foreclosures rather than following the months long process that were designed to give the homeowner a chance to bring mortgage payments up to date.

Mnuchin was later gifted the Secretary of Treasury position: From Open Secrets November 2016

Steven Mnuchin:

While Trump blasted Clinton throughout the campaign for her ties to Wall Street, the president-elect is considering this former Goldman Sachs exec for Treasury. Mnuchin was the Trump campaign’s finance chairman, charged with rounding up as much money as possible for the effort. He maxed out his contributions to Trump with $5,400, and gave $200,400 to the Republican National Committee.

https://www.opensecrets.org/news/2016/11/following-the-money...

Can we dig up similar dirt on Yellen? Feel free to verify she is a swamp beast worthy of the Mnuchin legacy
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