Trump’s Finance Chair Made Billions Off The 2008 Financial Crash

Dumb, Dumb Donald. He could have gone all the way – and he blew it. And what’s so sad – the pundits don’t get it …yet. The Presidential election is Goldman Sachs vs. Goldman Sachs…. Goldman Sachs just doesn’t want to leave the White House.

justiceleague00's avatarJustice League

International Business Times:

Days after Trump’s decisive primary win in Indiana, his campaign indicated that it was growing. Team Trump has added a finance chair: Steven Mnuchin, the founder of a private equity firm that received a government-funded jackpot after the 2008 housing collapse.

Mnuchin, a former partner at Goldman Sachs, heads up Dune Capital. The investment firm put together a holding company in 2008  — attracting investors like J.C. Flowers, a George Soros investment fund and Paulson & Co. — that then bought up $32 billion worth of IndyMac bank assets for the cut-rate price of $13.9 billion. Renaming the bank OneWest, Mnuchin’s consortium invested $1.3 billion and got the Federal Deposit Insurance Corporation to assume responsibility for the majority of future losses. The FDIC lost an estimated $8.5 billion to $9.4 billion in the deal — while the holding company made money with the taxpayer-subsidized set-up.

“Steven is a professional at…

View original post 436 more words

Wells Fargo told staff to keep quiet about missing papers: lawsuit

justiceleague00's avatarJustice League

A former employee accused Wells Fargo & Co of instructing workers at a call center to refrain from telling customers about lost deeds or other missing documents, and of firing the worker who called the policy unethical, according to a lawsuit made public this week.

Duke Tran, who was a customer service specialist at the bank, says that his supervisor berated him for telling a husband and wife that their loan contract was missing from an internal system.

Tran and others later received an email instructing them not to tell customers about situations “where we have a lost contract, deed, any type of document, really, but especially when it relates to securing a property,” according to a copy of the email filed with the lawsuit.

The email told the employees “to say that we need to do further research or something similar” and then to escalate the phone call to…

View original post 18 more words