Trump voter lost her home to new Treasury secretary

US President-elect Donald Trump is putting together what will be the wealthiest administration in modern American history.

Kashani detailed nominee Steve Mnuchin’s business activities on the KPFK broadcast of “Background Briefing with Ian Masters”.

“I think one of the good things about both Wilbur and I, we have actually been bankers”, Mnuchin said. His choices have won praise from Republicans relieved by his more conventional choices, but could risk angering voters who rallied behind his calls for upending the political system.

Listen here to Kashani’s remarks, which begin at the 16:45 mark. Trump put an image of Goldman CEO and chairman Lloyd Blankfein, along with other Jewish figures in finance like George Soros and Janet Yellen, in a commercial late in the campaign that was widely decried as anti-Semitic. Billionaire Betsy DeVos has been selected for education secretary, and commerce secretary nominee Wilbur Ross is worth $2.5 billion, the Post reports.

“That is not the type of change that Donald Trump promised to bring to Washington – that is hypocrisy at its worst”, the duo added.

The FDIC paid OneWest almost $1.2 billion to cover the cost of some of the toxic assets from IndyMac, according to Politico, while the bank itself sustained a total loss of approximately $4.6 billion from the purchase. And to get there our number-one priority is tax reform. “We’ll look at potentially extending the maturity of the debt, because eventually we are going to have higher interest rates, and that’s something that this country is going to need to deal with”, Mnuchin said. NPR economic correspondent John Ydstie joins us now to talk about how Trump’s choices match up with his campaign rhetoric. “Regional banks are far less risky than their Wall Street counterparts and hence should not be forced to abide by the same complex compliance requirements”.

Mnuchin along with his partners co-founded OneWest Bank in 2009, as the US housing bubble was bursting, buying the bad assets of the bankrupt IndyMac Bank.

“Steve Mnuchin ran a foreclosure machine”, said Paulina Gonzalez, executive director of the California Reinvestment Coalition, which fought the CIT-OneWest deal and is one of the groups asking HUD to investigate the banks for discrimination. Just before it collapsed, Relativity paid off a $50 million loan to Mnuchin’s bank, OneWest, in full. The other, Steve Mnuchin, is a veteran of Goldman Sachs who now runs a private hedge fund. “Deliver a very significant middle income tax cut that’s gonna be combined with the child care program”.

Mnuchin, from a New York Jewish family, became a Goldman partner at the age of 31, rising to chief information officer after running the firm’s trading in mortgages, U.S. government, money market and municipal bonds.

Mnuchin will also oversee a sprawling bureaucracy that includes the Internal Revenue Service and the agency that issues millions of Social Security and other benefit checks each month.

Stripping back Dodd-Frank could also have a considerable impact on the city’s economy as many accounting and consulting firms have invested heavily in people and technology to help banks, hedge funds and private-equity firms comply with the law. Trump has proposed a special 10% rate on overseas funds the companies shift back to the U.S.

“I know what it takes to make sure that we can make loans to small- and mid-market companies, and that’s going to be our big focus, making sure we scale back regulation so we make sure the banks are lending”, he said.