President-elect Donald Trump has tapped Steven Mnuchin, a former Goldman Sachs banker who profited from the housing meltdown, as his Treasury secretary, according to an official briefed on the decision.
Mnuchin’s career has been full of contradictions. He started as a Wall Street insider working for old-line firms before running a series of eclectic businesses — including his own hedge fund and a West Coast consumer bank. In recent years, he has been a Hollywood movie producer.
He served as finance chairman of Trump’s presidential campaign and has been one of Trump’s closest economic advisers. His nomination will be announced as soon as Wednesday, the official said.
As Treasury secretary, the 53-year-old Mnuchin would be the face of the American economy around the world. The Treasury Department has expansive responsibility over business and oversees banking regulations, financial markets and the IRS. It has about 100,000 employees, an estimated 91,000 of them at the IRS.
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Trump taps ex-Goldman banker Mnuchin for Treasury post https://t.co/CHeTBvajhj
— Jake Tapper (@jaketapper) November 29, 2016
Trump's new finance chairman has long history of donating to Dems https://t.co/aZcBMMPrpe via @DCExaminer
— Philip Wegmann (@PhilipWegmann) November 29, 2016
Every post dealing with fiscal policy is now filled either by establishment or Dem.this is what happens with a french revolution.full circle
— Daniel Horowitz (@RMConservative) November 29, 2016
The Treasury pick is the embodiment of the TARP/ stimulus/debt/heavy fed intervention cabal
— Daniel Horowitz (@RMConservative) November 29, 2016
Trump has now hired 2 ex-Goldman bankers for top posts: Bannon as chief strategist & Mnuchin as Treasury Sec. +Scaramucci on transition team
— Heather Long (@byHeatherLong) November 29, 2016
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