After campaigning with lots of populist and anti-Wall Street rhetoric, Donald Trump is seriously considering a veteran Wall Street financier, Steve Mnuchin, to be his Treasury secretary.
Mnuchin spent 17 years at Goldman Sachs, ultimately as a partner at the investment bank.<snip>
But Mnuchin's resume also includes a stint as chairman and CEO of a California bank that's been called a foreclosure machine.
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Kevin Stein of the California Reinvestment Coalition, a housing advocacy group, says that profit was made on the backs of suffering California homeowners. "In essence what they did is they bought a foreclosure machine," he says.
According to the coalition, OneWest foreclosed on more than 36,000 homeowners under Mnuchin. During that time, the FDIC made payments to OneWest totaling more $1 billion. Those payments went to the "billionaire investors of OneWest Bank," says Stein, "to cover the cost of foreclosing on working-class, everyday, American folks," many of whom lived in California.