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View Full Version : Trump Picks Former Goldman Banker Steven Mnuchin As Treasury Secretary




scm
11-29-2016, 06:50 PM
"While it has yet to be officially confirmed by the Trump transition team, moments ago the NYT reported (http://www.nytimes.com/2016/11/29/us/politics/steven-terner-mnuchin-trump-treasury-secretary.html?smid=tw-nytpolitics&smtyp=cur&_r=0)that - in what had previously been leaked on several occasions on various other outlets most notably the WSJ - former Goldman banker and Soros employee, Steven Mnuchin "a financier with deep roots on Wall Street and in Hollywood but no government experience" is expected to be named Donald J. Trump’s Treasury secretary as soon as Wednesday"

http://www.zerohedge.com/news/2016-11-29/trump-picks-former-goldman-banker-steven-mnuchin-treasury-secretary-cbs-reports

CaptUSA
11-29-2016, 06:55 PM
Slap in the face, right there! If this is true, and it's not Allison, so much for draining the swamp. :rolleyes:

The Gold Standard
11-29-2016, 06:56 PM
Goldman Sachs got the job? You could knock me over with a feather.

William Tell
11-29-2016, 07:00 PM
Oh ya, Mnuchin will MAGA the shit out of this country.

devil21
11-29-2016, 07:00 PM
And the selected Secretary of Commerce, Wilbur Ross, that works closely with the Treasury Secretary, ran Rothschild's bankruptcy firm for 25 years.

New boss yada yada

Doesn't mean things won't "change" but it'll be changes the bankers want and that's usually not a good thing in the long run for average folks.

eta: bk not a coincidence

Pizzo
11-29-2016, 07:05 PM
So is this trolling or is it 748d backgammon?

EBounding
11-29-2016, 07:07 PM
But did you see his tweet about the flag?

The Gold Standard
11-29-2016, 07:09 PM
So is this trolling or is it 748d backgammon?

Trump is playing a game we can't even fathom. He's going to awaken these people to the virtues of liberty.

undergroundrr
11-29-2016, 07:09 PM
Hey, he had to throw a bone to Goldman Sachs. No big deal. trump's just trollin'. Trying to keep the establishment off-center. Treasury Sec is mostly a fluff job anyway.

Oh, by the way, Rothschild's got the Commerce Dept. (EDIT: devil21 beat me to it)

CaptUSA
11-29-2016, 07:10 PM
Ok, where are all the Trumpsters to tell us how great these picks are? How this is going to drain the swamp and MAGA? How we just don't understand the mental jujitsu he's using?

Pathetic. His trial balloons actually had us hoping this wouldn't be a complete disaster. Oh well.

PatriotOne
11-29-2016, 07:19 PM
This is the pick I'm waiting for to see Trumps true colors. If Steven Mnuchin is it, then game over. Four more yrs of pain.

nikcers
11-29-2016, 07:43 PM
This is the pick I'm waiting for to see Trumps true colors. If Steven Mnuchin is it, then game over. Four more yrs of pain.

Pernce should of shown everyone his true colors, but this is fake news right guys. I am just going to not believe this news so I feel better. I am starting to understand how its supposed to work now.

TheCount
11-29-2016, 08:01 PM
Gold standard in January! MAGA!

Brian4Liberty
11-29-2016, 08:22 PM
Another article from Zero Hedge:


Six months ago, Steven Mnuchin became finance chair for the Trump campaign. Having succesfully helped to raise 10s of millions of dollars for the campaign, the former Goldman Sachs partner and Soros Fund management employee is now positioned for something much larger as Donald Trump reportedly told his aides today that he wants Mnuchin to serve as his Treasury Secretary.

Ironically, Trump has often criticized Clinton (and his former competitor Ted Cruz) for their links to the big banks:

"I know the guys at Goldman Sachs. They have total, total control over him. Just like they have total control over Hillary Clinton,” Trump said in one debate.

But as we noted previously, he had no qualms, however, in hiring one of the most prominent Goldman alums to raise money for him.

In addition to Goldman, Mnuchin also worked at Soros Fund Management, whose founder, George Soros, has funded many left-leaning causes. Where it gets even more bizarre is that Mnuchin has donated frequently to Democrats, including to Clinton and Barack Obama.



As a hedge fund manager, Mnuchin is part of a group of businesspeople Trump has excoriated. In August, Trump said hedge fund managers were "getting away with murder" as he touted his proposal to end the so-called carried interest loophole, which gives private equity and hedge fund managers preferential tax treatment.



"The hedge fund guys didn't build this country," Trump said at the time on CBS' Face the Nation. "These are guys that shift paper around and they get lucky," he said. "They are energetic. They are very smart. But a lot of them—they are paper-pushers. They make a fortune. They pay no tax. It's ridiculous."



They apparently are also very good at raising money.

* * *

Some more on Mnuchin's background: starting his career in the early 1980s as a trainee at Salomon Brothers before moving to Goldman Sachs in 1985, Mnuchin was front and center for the advent of instruments like collateralized debt obligations and credit default swaps. He has called securitization “an extremely positive development in terms of being able to finance different parts of the economy and different businesses efficiently.” The pitfalls of the financing method came later, he's said.

Mnuchin's father, Robert Mnuchin, was a partner at Goldman Sachs in the 1960s. The second-youngest of five siblings, Steven attended the prestigious Riverdale Country School and then Yale University, where his roommate was Edward Lampert, who would go on to become a hedge-fund manager and owner of Sears.

More recently, in October 2014 Mnuchin became co-chairman of the board of the Hollywood studio Relativity Media due to Dune's fascination with movies. Dune has provided financing for batches of winning movies, like the “X-Men” franchise and “Avatar,” Hollywood’s all-time box-office champion.

Relativity Media filed for bankruptcy last summer, just a few months after Mnuchin's arrival. According to Variety, Dune was intimately involved in the studio's failure.

The money-man and fellow investors in a Dune Capital fund are said to have lost as much as $80 million — equity that is almost certain to be lost for good, said two sources familiar with the situation. And disgruntled Relativity investors privately are questioning how a bank Mnuchin once headed –OneWest Bank of Pasadena – was allowed by Relativity to drain $50 million from the studio just weeks prior to the July 30 insolvency filing.



Mnuchin had left Relativity just days before the company reached an agreement with OneWest to extend the loan deadline and allow the bank to claim that money.

* * *

To be sure, Hillary Clinton, who in turn has been attacked for her paid speeches to Goldman Sachs (and her public-private positioning for them), also has a high-ranking Goldman official in her ranks, former CFTC commissioner Gary Gensler, who is the former secretary of state’s chief financial officer and whom she is grooming for a potential Treasury Secretary.

But for Trump, a self-professed "anti-establishment" candidate, who has repeatedly stated he is not "for sale to special interest groups", his sudden call for the seemingly most "Wall Street" of Wall-Streeters to become Treasury Secretary may come as a big surprise to some and will leave many of his supporters demanding an explanation.

Sola_Fide
11-29-2016, 08:26 PM
Why is anyone acting surprised?

specsaregood
11-29-2016, 08:30 PM
Well the dream of MAGA was great while it lasted, which wasn't long.

Champ
11-29-2016, 08:48 PM
Why is anyone acting surprised?
Yes.

Origanalist
11-29-2016, 09:21 PM
Everyone posting in this thread no longer has any credibility on this forum. Remember, Trump won. That's all that counts.

Sola_Fide
11-29-2016, 09:28 PM
Everyone posting in this thread no longer has any credibility on this forum. Remember, Trump won. That's all that counts.

After 8 plus years of Republican malaise, I will remember that I was for 4 years of Hillary, and then a real chance at something better.

Origanalist
11-29-2016, 09:33 PM
After 8 plus years of Republican malaise, I will remember that I was for 4 years of Hillary, and then a real chance at something better.

I voted for Nobody. Nobody won by a landslide and I'm going to live accordingly.

Sola_Fide
11-29-2016, 09:33 PM
I voted for Nobody. Nobody won by a landslide and I'm going to live accordingly.

I didn't vote either.

jkr
11-29-2016, 09:35 PM
HUNNYM00N=OVER

Ender
11-29-2016, 09:36 PM
I voted for Nobody. Nobody won by a landslide and I'm going to live accordingly.

Nobody was my pick, as well. You know what they say about Great Minds. ;)

Origanalist
11-29-2016, 09:42 PM
Nobody was my pick, as well. You know what they say about Great Minds. ;)

That they get shouted out by a bunch of idiots?

CPUd
11-29-2016, 09:42 PM
fake news

Carlybee
11-29-2016, 09:50 PM
He could at least pick someone whose name I can pronounce.

Brian4Liberty
11-30-2016, 01:14 AM
LOL. In California, they are accusing Mnuchin of being a racist. They are saying it's because of housing practices under some bank that managed properties.

Damn, these Marxists are broken records.

They report it at the same time that they claim that a "racist note" is evidence of massive increases in hate crimes. :rolleyes:

francisco
11-30-2016, 02:15 AM
Breathe deep and smell the Liberty. mmmm!

Theocrat
11-30-2016, 02:34 AM
Ok, where are all the Trumpsters to tell us how great these picks are? How this is going to drain the swamp and MAGA? How we just don't understand the mental jujitsu he's using?

Pathetic. His trial balloons actually had us hoping this wouldn't be a complete disaster. Oh well.

Don't you know? Trump is playing (726+8x)^6-y=z Chess, while the rest of us are arguing over checker boards. [lol]

devil21
11-30-2016, 04:24 AM
LOL. In California, they are accusing Mnuchin of being a racist. They are saying it's because of housing practices under some bank that managed properties.

Damn, these Marxists are broken records.

They report it at the same time that they claim that a "racist note" is evidence of massive increases in hate crimes. :rolleyes:

The other night on SNL they said Bannon was an anti-semite. My jaw hit the floor.

devil21
11-30-2016, 05:13 AM
Did Mnuchin ever donate to Hillary and Obama?

juleswin
11-30-2016, 05:22 AM
The other night on SNL they said Bannon was an anti-semite. My jaw hit the floor.

Lol, was about to make a similar comment. Why do some people always go for the weakest and insignificant argument to debunk? I am sure someone on tumlr also said something more insipid and inane than he is racist, I guess that criticism is next on the debunk list. Lets all forget that he used to Federal reserve to write off loses he had with his business and that he worked for George Soros who is not at all in the business of hiring "racists". Lets all focus our fire on something a nameless, faceless person/group/institution said about him and forget the real facts about the man.

Feeding the Abscess
11-30-2016, 07:37 AM
#DecoratetheSwamp

swissaustrian
11-30-2016, 07:46 AM
The futures u-turn (to the upside) on election night telegraphed everything you need to know about the Trump admin in terms of ties to the financial establishment. PPT was active all night.
The rapidly falling bond market points towards a massive engineered debt crisis that will be blamed on Trump.

fcreature
11-30-2016, 10:13 AM
Posted on zerohedge? PLEASE. Haven't you ever heard of fake news?

Oh shit... isn't zerohedge one of the supposedly non-fake news news sites?

Brian4Liberty
11-30-2016, 11:25 AM
Lol, was about to make a similar comment. Why do some people always go for the weakest and insignificant argument to debunk? I am sure someone on tumlr also said something more insipid and inane than he is racist, I guess that criticism is next on the debunk list. Lets all forget that he used to Federal reserve to write off loses he had with his business and that he worked for George Soros who is not at all in the business of hiring "racists". Lets all focus our fire on something a nameless, faceless person/group/institution said about him and forget the real facts about the man.

The corrupt media is speaking to the ignorant masses. They have been conditioned to emotionally react to keywords. Calling him a racist or anti-Semite is the strongest and most significant attack they can utilize.

kpitcher
11-30-2016, 11:30 AM
I can't help but see the name as "Munchkin"

Which is a fun game, all about stealing the treasure. Fitting

https://images-na.ssl-images-amazon.com/images/I/71vwQnawJ4L._SL1000_.jpg