November 29, 2016

Whee, folks! Hang on for the ride, because we're about to get a Treasury Secretary with deep generational ties to Goldman Sachs. Forget Hillary's speeches, this guy is the real deal, a dilletante whose daddy was a Goldman Sachs banker and who has most recently spent his time in Hollywood making some movies.

CNN Money:

Mnuchin, like his father before him, was a partner at Goldman. He worked for the firm for 17 years, joining at age 22 and leaving just before his 40th birthday, in 2002.

He briefly joined the hedge fund of his former college roommate Eddie Lampert. Mnuchin still serves as a director of Sears Holdings (SHLD), of which Lampert is chairman and CEO.

After less than a year, he left Lampert to work as a portfolio manager for the hedge fund of George Soros, the billionaire financier who has bankrolled liberal candidates and causes -- and who was depicted as a villain in Trump's last campaign ad.

He only stayed a year, leaving in September 2004 to start his own hedge fund, Dune Capital Management.

As a producer, he has put out films including "American Sniper," "The Lego Movie" and this summer's "Suicide Squad." His latest film, which opened right before Thanksgiving, is called "Rules Don't Apply."

That last title is probably his life's mantra, which should blend well with a guy who will be in charge of the IRS, among other things.

Mnuchin also scored big on the mortgage meltdowns during the recession, and had some ties to Bernie Madoff as well.

Mnuchin and his brother were sued by the trustee trying to recover money for Bernard Madoff's victims after his Ponzi scheme unraveled in 2008. They were executors of their mother's estate, and had withdrawn her investment with Madoff shortly after she died in 2005.

A court eventually blocked the trustee, Irving Picard, from collecting his mother's $3.2 million in profits withdrawn from the Madoff fund that long before its collapse.

Mnuchin led the group that bought failed subprime lender IndyMac for pennies on the dollar in 2009, about a year after the FDIC took over the California bank following a run on deposits by customers.

We can all rest assured we will never, ever see Donald Trump's tax returns with Mnuchin at the helm. I'm also fairly certain non-profits which exist solely to elect candidates and further the Kochtopus's objectives will also be given free reign.


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