From Campaign Finance Director to Treasury Secretary
The New York Times reports Donald Trump will officially announce Steven Mnuchin’s appointment to the post of Treasury Secretary as soon as Wednesday. Mnuchin as no government experience (though that’s not terribly uncommon for Treasury Secretaries), but served as Trump’s Campaign Finance Director.
From the NYT:
Mr. Mnuchin, 53, was the national finance chairman for Mr. Trump’s campaign. He began his career at Goldman Sachs, where he became a partner, before creating his own hedge fund, moving to the West Coast and entering the first rank of movie financiers by bankrolling hits like the “X-Men” franchise and “Avatar.”
As Treasury secretary, Mr. Mnuchin would play an important role in shaping the administration’s economic policies, including a package of promised tax cuts, increased spending on infrastructure and changes in the terms of foreign trade. He could also help lead any effort to roll back President Obama’s nuclear deal with Iran and opening to Cuba by reimposing sanctions on Tehran and Havana.
Mr. Mnuchin, the son of a Goldman Sachs partner, joined the firm after graduating from Yale University. He worked there for 17 years, rising to oversee trading in government securities and mortgage bonds.
After leaving Goldman in 2002, he founded Dune Capital Management, a hedge fund named after the dunes near his beach house in the Hamptons.
He also started investing in the movie business and bought a house in Bel-Air. He is engaged to the actress Louise Linton, who would be his third wife. He told The Times in May that he has focused in recent years on the “West Coast economy,” although he added that he was not turning his back on Wall Street.
Mr. Mnuchin was part of a group that bought the failed California mortgage lender IndyMac from the government in 2009. He became chairman of the company, renamed OneWest, which was ultimately sold to CIT, the nation’s largest small-business lender, in 2015 for more than twice the price the group had paid.
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