Democrats accuse Mnuchin of foreclosing on tens of thousands
Washington — On Thursday, US President-elect Donald Trump’s choice for Treasury secretary, Steven Mnuchin, will push back at Democratic Party critics who have charged him with forcing tens of thousands of Californians from their homes as chairman of OneWest Bank. In prepared remarks to senators at his confirmation hearing, Mnuchin said that his group’s purchase of IndyMac Bank in 2009 ultimately rehabilitated a failed regional lender into OneWest and saved thousands of jobs and thousands of loans from foreclosure. "Since I was first nominated to serve as Treasury Secretary, I have been maligned as taking advantage of others’ hardships in order to earn a buck. Nothing could be further from the truth," Mnuchin wrote in his opening statement. "In the press, it has been said that I ran a ‘foreclosure machine’. This is not true. On the contrary, I was committed to loan modifications intended to stop foreclosures. I ran a loan modification machine." On Thursday, Democrats organised a Capi...
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