Steven Mnuchin is Donald Trump’s nominee for Treasury Secretary — and perhaps it makes sense — because Mnuchin shares Trump’s proclivity to screw over the little guy to make some big money.
During the 2007/2008 economic collapse, Steven Mnuchin established OneWest, a bank that has come under fire from critics.
OneWest was so slow to pay up to Super Storm Sandy victims that they got personal condemnation from the Governor of New York. They have also been accused of discriminatory lending practices and a myriad of other ethical violations. Here’s one that’s raising a LOT of eyebrows:
During the financial crisis, OneWest bought up mortgages from bankrupted firm IndyMac and pretty much immediately began kicking people out of their homes. Some estimates have them evicting over 36,000 people, all the while, Steven Mnuchin is raking in a ton of cash.
One of those people was a 90-year-old woman, who was foreclosed on because she wrote a check out for $423 instead of $423.30:
In Florida, the company foreclosed on a 90-year-old woman after a 27-cent payment error.
Two years ago, OneWest filed foreclosure papers on the Lakeland, Fla., home of Ossie Lofton, who had taken a reverse mortgage, a loan that supplies cash to elderly homeowners and doesn’t require monthly payments.
After confusion over insurance coverage, a OneWest subsidiary sent Lofton a bill for $423.30. She sent a check for $423. The bank sent another bill, for 30 cents. Lofton, 90, sent a check for three cents. In November 2014, the bank foreclosed.
You heard that right, OneWest foreclosed on a 90-year-old women over 27 cents.
However, we can’t pretend that *nobody* likes Trump’s pick here. The annoucement of Mnuchin as Treasury Secretary has led to jubilation among financial lobbyists and Wall Street insiders.
Draining the swamp? Hm?