Posts Tagged ‘foreclosure crisis’

Trump Appoints ‘Foreclosure King’ As Treasury Secretary

December 2, 2016

Trump Appoints 'Foreclosure King' As Treasury Secretary

President-elect and self-proclaimed swamp-drainer Donald J. Trump has named Goldman Sachs alum and former hedge fund partner Steve Mnuchin as his Treasury Secretary. Mr. Mnuchin, who was finance chair of the Trump campaign and the producer of Suicide Squad, became infamous as the “Foreclosure King” when his OneWest Bank foreclosed on over 36,000 family homes during the financial crisis. OneWest specialized in “harsh, repugnant and repulsive” foreclosures on the homes of minority families and the elderly, and in one celebrated case foreclosed on a 90-year-old woman over a 27 cent error.

The Department of the Treasury controls mortgage guarantee agencies Fannie Mae and Freddie Mac and runs the MHA mortgage relief program and the Hardest Hit Fund, which helps homeowners most in danger of foreclosure due to the financial crisis. Oh, it also regulates banks.

More:

“Trump Treasury pick made millions after his bank foreclosed on homeowners,” Lorraine Woellert, Politico

“Steve Mnuchin: Evictor, Forecloser, and Our New Treasury Secretary,” Peter Dreier, American Prospect

“Trump Was Always Going to Be a Gift to Wall Street. His Pick for Treasury Secretary Proves It.,” Jordan Weissmann, Slate

“Donald Trump voter who lost her home to new Treasury pick Steven Mnuchin has ‘no faith in our government anymore,’” Josh Boak and Jeff Horowitz, AP via Salon

“Angus King: Trump’s not draining swamp, he’s adding alligators,” Mark Hensch, The Hill

Bonus:

“Before heading to the Treasury, Steven Mnuchin will grace the silver screen in ‘Rules Don’t Apply,'” Mark Olsen, Los Angeles Times

“The fiancée of Trump’s twice-married new Treasury Secretary, 53, is 35-year-old actress who sparked fury after she ‘invented parts of her memoir about nearly being killed in Africa,'” Jennifer Newton, Daily Mail

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Ain’t Got No Home

August 24, 2012

Ain't Got No Home

The ProPublica team has researched the causes of the foreclosure crisis. You can read about it here, but there’s a video that explains it all, and you can dance to it:

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