The mystery of Steven Mnuchin

Goldman Sachs alumnus Steven Mnuchin is not particularly political, and his policy positions don't exactly jibe with GOP orthodoxy

Steven Mnuchin took a risk by supporting Donald Trump, but it paid off.
(Image credit: JIM WATSON/AFP/Getty Images)

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President Trump's supporters cheered his inaugural pledge "to make sure they share in the nation's riches," but his nominee for treasury secretary isn't exactly a populist hero, said Suzanne McGee at The Guardian. Steven Mnuchin, a Goldman Sachs alumnus and hedge fund manager with a net worth of as much as $500 million, is apparently so wealthy he forgot to disclose $100 million in assets ahead of his Senate confirmation hearing. Mnuchin also omitted the fact that he once led an offshore investment fund based in the Cayman Islands, a well-known tax haven. The revelations set the stage for a tense hearing, in which Democratic lawmakers raked Mnuchin over the coals for his leadership of California bank OneWest in the years after the financial crisis. The bank foreclosed on more than 36,000 homeowners during Mnuchin's tenure — including, famously, a 90-year-old woman who made a 27-cent payment error. Mnuchin has "a solid working knowledge of business and finance," but is he really the kind of person Trump supporters had in mind to run the nation's financial system?

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