Trump's pick to lead Treasury tried to kick woman out of her house over 27 cents

Steven Mnuchin, Trump's pick to lead the Treasury, worked for Goldman Sachs for 20 years. In 2008 Munchin and his partners founded a bank (funded in part by George Soros) that tried to evict a 90-year-old woman from her home because she underpaid a bill by 27 cents.

From Fusion:

After some confusion about her insurance coverage two years back, a subsidiary of OneWest sent Ossie Lofton, of Lakeland, Florida, a bill for $423.30. Lofton sent the bank a check for $423, and got another bill for the remaining $0.30. The woman–who, it’s worth emphasizing again here, is 90 years old–mailed in a check for $0.03.

The mix-up was enough to trigger foreclosure proceedings. Lawyers at the non-profit Florida Rural Legal Services asked the court for a jury trial.

Don't worry about Mnuchin's failure to successfully foreclose on the property. He reportedly received $11 million when his bank merged with CIT Bank last year.

From Politico:

That payout has been a lightning rod for OneWest critics, even though the bank and its successors absorbed $3.4 billion in losses that the FDIC didn’t cover.

Despite those losses, Mnuchin came out ahead. Last year, OneWest closed on a $3.4 billion, hard-won deal to merge with CIT Bank, overcoming challenges from fair-housing advocates, civil rights groups and homeowners. Mnuchin took a reported $10.9 million payout and remains on CIT’s board.

“Investors in the bank, including Mr. Mnuchin, profited handsomely at the expense of thousands of working people across our state,” said Kevin Stein, deputy director of the California Reinvestment Coalition.

Notable Replies

  1. That old lady is like a living Randian villain.

  2. Let's face it, if this administration is anything like the last time the R's held all three branches of government... well let me refresh your memory about 15-16 years ago boys and girls.

    After a contentious contested election, within 6 months the place where I live was enduring rolling blackouts caused by Enron rightwing scammers. Complain to FERC, wha who what? Back to work prols! Tech Bubble continued to pop. We were hit with the worst attack on American soil since Pearl Harbor, we botched one war (ongoing) invaded the wrong country (ongoing really) and lost an American city to flooding and neglect. There was some monumental corruption along the way, flying death robots (ongoing) and the NSA listens to everything anyone does or something like that, but nothing to worry your pretty little head about. Then the real estate bubble popped and the dow went thru the shitter due to systemic flaws and our greatest virtue: greed.

    So yeah, let's give it a chance, tax cuts for the rich have worked so well in the past. /s

Continue the discussion bbs.boingboing.net

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