Thursday, December 1, 2016

FORECLOSURE MACHINE

11 1/2" x 8" Pilot Precise V5 extra fine pen and watercolor in Moleskine sketchbook.
So here is Trump's pick for Treasury Secretary: Steven Mnuchin.
What's his story?
"Mnuchin’s hedge fund also played a role in the housing crisis after it scooped up the failing California bank IndyMac in 2008. Under Mnuchin’s ownership, IndyMac foreclosed on 36,000 families, particularly elderly residents trapped in reverse mortgages. People would go to Mnuchin’s home to protest outside as they were foreclosed out of their own homes. Mnuchin was accused of running a foreclosure machine. The bank, which was renamed One West, was also accused of racially discriminatory lending practices. In 2015 Mnuchin sold a bank for $3.4 billion, $1.8 billion more than he bought it for." - Amy Goodman

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