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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsVote down corrupt stimulus slush fund
By Jonathan Chait
MAR. 22, 2020
Three days ago, Senate Republicans unveiled their version of an economic-rescue bill ... Democrats blocked it ... McConnell summoned his moral indignation to accuse Democrats of indifference to the economic crisis ...
... The central flash point concerns a $500 billion corporate bailout ...
... its designed as a pool of money to be doled out by the Treasury secretary. That is to say, the money is, for all intents and purposes, personally controlled by Donald Trump, who selected the Treasury secretary, Steve Mnuchin, and could replace him on a whim ...
... One obvious outcome of this financing arrangement would be to create the all-but-certain outcome that the Treasury would select the Trump Organization as one of the worthy recipients of its largesse ...
... The entire concept that the federal government ought to operate independent of the presidents political whims is inherently foreign to Trump. Handing him a half a trillion dollars to reward his allies and punish his enemies during an election year would .. be .. suicidal ...
https://nymag.com/intelligencer/2020/03/coronavirus-stimulus-slush-fund-trump-bailout-corporations-senate.html
struggle4progress
(118,301 posts)By VICTORIA GUIDA 04/18/2019 03:56 PM EDT
Sears on Thursday named Treasury Secretary Steven Mnuchin in a lawsuit against the companys former CEO, Edward Lampert, alleging that Mnuchin was part of a group of board members who assisted Lampert and his hedge fund in stripping the bankrupted retailer of more than $2 billion in assets.
Lampert and his hedge fund, ESL Investments, were the largest shareholders in Sears, holding between 47.8 percent and 62 percent of its stock during the time of the alleged violations, from 2011 to 2015, according to the lawsuit. They, along with two other major shareholders named in the suit, received the vast majority of the benefit of spinning off five different company assets, according to the complaint ...
https://www.politico.com/story/2019/04/18/sears-sues-mnuchin-alongside-former-ceo-for-alleged-multibillion-dollar-theft-1368488
"I destroyed Sears! Now let me destroy America!"
2naSalit
(86,650 posts)I haven't spent much time investigating his sordid past, just haven't had the time what with all the other swill that blast out of the WH like a shit filled water cannon.
Celerity
(43,422 posts)2naSalit
(86,650 posts)billionaires who are working against his campaign and he wants US to pay for it. Not only that, I suspect he just wants us to die because we impeached him... revenge is his forte after all.
struggle4progress
(118,301 posts)Bank with Steven Mnuchin on the board filed to take a 90-year-old woman's house after a 27-cent payment error.
By LORRAINE WOELLERT
12/01/2016 05:14 AM EST
Updated 01/24/2017 05:34 PM EST
... Mnuchin .. and his partners bought the remains of failed mortgage lender IndyMac ...
When the FDIC shut IndyMac down, Mnuchin and his partners swept in to buy what was left, bad loans and all. As was typical at the time, the FDIC agreed to help OneWest cover the cost of the bad assets it inherited, including losses on foreclosed single-family loans.
And the foreclosures came, 36,000 of them by one estimate ... The FDIC has paid the bank $1.2 billion ...
... Mnuchin came out ahead. Last year, OneWest closed on a $3.4 billion .. deal to merge with CIT Bank ... Mnuchin took a reported $10.9 million payout ...
https://www.politico.com/story/2016/12/trump-treasury-foreclosed-homes-mnuchin-232038
"America! I've screwed so many others! Now let me screw the rest of you!"
2naSalit
(86,650 posts)sop
(10,206 posts)This Republican slush fund allows Mnuchin to steal $500B from the US treasury and share it with his friends, no questions asked. I recall the time Steve and his trophy wife were photographed down in Fort Knox, drooling over the gold. Now Trump's gang of financial terrorists can loot the place. We've seen this movie before, it's "like a Die Hard movie, but without the guns."
They can't hide their desire for ill gotten gains.
SayItLoud
(1,702 posts)We are going to give the ball of public opinion to tRUMP and the corrupt Gop by NOT getting the media blitz out pointing out the greed of the rePUBIC's plan.
Where are the Dem spox???? We are handling this too properly. It's a street fight and we are going to be blamed for delays.