Tag Archives: Steve Mnuchin

CNBC reports: Treasury Secretary Steve Mnuchin put Harriet Tubman’s role on the $20 bill in question. Mnuchin told CNBC on Thursday: “Ultimately we will be looking at this issue. It’s not something I’m focused on at the moment.” Instead, he said he’s concentrating on making sure any tweaks to U.S. currency bills thwart counterfeiters. “The No. 1 issue why we …

Reuters reports: The wife of U.S. Treasury Secretary Steve Mnuchin on Tuesday apologized for sniping at a critic on social media site Instagram who called her “deplorable” for a post highlighting her expensive clothing as she exited a government plane. The flap erupted after Mnuchin’s wife, Scottish-born actress Louise Linton, posted a photo of herself emerging from the aircraft wearing …

The New York Daily News reports: The wife of Treasury Secretary Steve Mnuchin went on a tirade after an Instagram commenter criticized her for posting a picture of herself disembarking a government plane. Louise Linton, a Scottish actress who was famously ridiculed for writing a “white savior” memoir about her time in Zambia, posted a photograph of her and her …

Reuters reports: The Trump administration is not considering a plan to raise taxes on the wealthiest Americans in order to pay for tax breaks for the middle class, U.S. Treasury Secretary Steve Mnuchin said on Sunday. Speaking on ABC’s “This Week,” Mnuchin said the administration plans to release its tax plan in early September and is aiming for a vote …

Bloomberg reports: Treasury Secretary Steven Mnuchin said breaking up the biggest banks would be a “huge mistake,” easing concerns that the Trump administration plans a major revamp of Wall Street. “We do not support a separation of banks and investment banks,” Mnuchin said Thursday at a Senate Banking Committee hearing, just weeks after President Donald Trump said his administration was …

Bloomberg reports: Treasury Secretary Steven Mnuchin confirmed the administration will propose a corporate tax rate reduction to 15 percent and said lawmakers broadly agree on the need for a tax overhaul, citing a “very successful meeting” on Tuesday evening in Washington. The administration wants to implement the biggest tax cuts and reform in U.S. history as part of a drive …

Reuters reports: President Donald Trump’s Treasury Secretary Steven Mnuchin used his first senior staff meeting to tell his new aides he would not tolerate leaks to the news media, sources familiar with the matter said. Current and former officials said that in a departure from past practice, access to a classified computer system at the White House has been tightened …

McClatchy reports: The Senate confirmed Steven Mnuchin as Treasury secretary in a vote Monday evening, adding the former Goldman Sachs executive to President Donald Trump’s Cabinet. The 53-47 vote, which fell largely along party lines, makes Mnuchin the 10th of Trump’s Cabinet nominees to be confirmed in three weeks. Sen. Joe Manchin (D-West Virginia) was the only Democrat to support …

Politico reports: The Trump administration on Thursday relaxed the sanctions that the Obama administration placed on a Russian spy agency in retaliation for its alleged cyberattacks. The “general license” issued by the Treasury Department’s Office of Foreign Assets Control appears to authorize U.S. companies to continue requesting licenses from Russia’s Federal Security Service, or FSB, to sell American technology products …

The Week reports: Republicans on the Senate Finance Committee advanced President Trump’s nominee for treasury secretary, Steven Mnuchin, and Trump’s nominee for health secretary, Rep. Tom Price (R-Ga.), on Wednesday with zero Democrats present. To do so required committee chairman Sen. Orrin Hatch (R-Utah) to suspend the committee rules, which normally require a quorum of at least one Democrat in …

The Guardian reports on what to expect: Mnuchin made much of his fortune by capitalising on the housing crisis. In 2008 Mnuchin and his partners took over IndyMac, a Californian bank that had been felled by its risky lending practices in the financial crisis and taken over by the government. Mnuchin told the Wall Street Journal last year he was …

Politico reports: A progressive advocacy group is launching a television ad campaign designed to pressure Republican Sens. Dean Heller and Jeff Flake to oppose Steven Mnuchin’s nomination as Treasury secretary. The ads, paid for by the group Allied Progress, are scheduled to begin airing Wednesday in the senators’ home states of Nevada and Arizona. The TV spots highlight the money …

The Boston Globe reports: President-elect Donald Trump boasted about his wealth during his campaign. Now he’s surrounding himself with people who have similarly unimaginable riches. Collectively, the wealth of his Cabinet choices so far is about five times greater than President Obama’s Cabinet and about 34 times greater than the one George W. Bush led at the end of his …

The Washington Post reports: President-elect Donald Trump’s ultra-wealthy Cabinet nominees will be able to avoid paying millions of dollars in taxes in the coming weeks when they sell some of their holdings to avoid conflicts of interest in their new positions. The tax advantage will allow Trump officials, forced by ethics laws to sell certain assets, to defer the weighty …

The Associated Press reports: When Donald Trump named his Treasury secretary, Teena Colebrook felt her heart sink. She had voted for the president-elect on the belief that he would knock the moneyed elites from their perch in Washington, D.C. And she knew Trump’s pick for Treasury, Steven Mnuchin, all too well. OneWest, a bank formerly owned by a group of …

The New York Daily News reports: Donald Trump’s Treasury pick treasures his family’s privacy. Steven Mnuchin told a judge during his 2014 divorce he wanted his home address kept private because he was worried protesters upset by foreclosures might harm his three young kids – and he even got the address wiped off the internet. In a sworn statement requesting …

CNN reports: Democratic Sen. Elizabeth Warren, who’s been an outspoken critic of President-elect Donald Trump, slammed him for saying he’s “for the American people” before he selected Steven Mnuchin, a former Goldman Sachs banker, to be treasury secretary in his administration. “He promised that he was going to run this government for the American people and not for Wall Street. …

The Wall Street Journal reports: President-elect Donald Trump will name longtime banker and former Goldman Sachs executive Steven Mnuchin as Treasury secretary, turning to a campaign loyalist and fundraiser for the incoming administration’s top economic cabinet post, a transition official said Tuesday. Mr. Mnuchin built his career sniffing out undervalued assets and converting them into massive profits. But perhaps his …

Salon reports: Despite his promise to “drain the swamp,” it looks like President-elect Donald Trump is prepared to nominate one of Wall Street’s most notorious bog monsters to be America’s next secretary of the Treasury. Steven Mnuchin, who served as the Trump campaign’s national finance chairman, has been recommended by the Trump transition team for the top post in the …