Goldman Sachs Bankster “King of the Foreclosures” Treasury Secretary Steven Mnuchin vows that the Goldman Sachs infested Trump Admin will hand no-strings massive socialist bailouts to Trump Hotels. Mnuchin says the welfare will exceed the Bankster-owned Democrat Party’s massive bailout of Obama crony Jamie Dimon of J P Morgan’s bailout in 2008
Mnuchin’s would-be boss, Donald Trump, also has a history of welcoming foreclosures and real estate market collapses. During the presidential campaign, a segment from a 2006 audiobook from Trump University came to light in which Trump said, “I sort of hope” there’s a real estate crash because “if there is a bubble burst, as they call it, you know you can make a lot of money.”
Before that, though, Mnuchin distinguished himself by making out like a bandit during the worst financial crisis our country has faced since the Great Depression.
“During his time running mortgage lender OneWest, which he bought with a group of investors for pennies on the dollar before selling it for a personal profit of many millions, Steven Mnuchin & Co. foreclosed on more than 36,000 homeowners. Because (1) that’s a lot of people kicked out of a lot houses and (2) everyone loves a good nickname, Mnuchin has earned the moniker, in some circles, “Foreclosure King,” or ”Foreclosure King of California,” if you’re not one for brevity.” BESS LEVIN
TRY TO SEPARATE THE CLINTON MAFIA AND DONALD TRUMP’S CRIMES FROM THEIR BANKSTER PAYMASTERS AT GOLDMAN SACHS!
Can’t be done!
NEW YORK — In the midst of a public relations nightmare, former White House Deputy National Security Adviser Dina Habib Powell took charge of Goldman Sachs’s global charitable foundation, helping to resurrect the big bank’s shattered image after it was implicated in practices that contributed to the financial crisis of 2007-2008.
“Clinton also failed to mention how he and Hillary cashed in after his presidential tenure to make themselves multimillionaires, in part by taking tens of millions in speaking fees from Wall Street bankers.”
NEW YORK — In the midst of a public relations nightmare, former White House Deputy National Security Adviser Dina Habib Powell took charge of Goldman Sachs’s global charitable foundation, helping to resurrect the big bank’s shattered image after it was implicated in practices that contributed to the financial crisis of 2007-2008.
Hillary Clinton is simply the epitome of the rabid self – a whirlpool of selfishness, greed, and malignance.
It may well be true that Donald Trump has made his greatest contribution to the nation before even taking office: the political destruction of Hillary Clinton and her infinitely corrupt machine. J.R. Dunn
"Hillary will do anything to distract you from her reckless record and the damage to the Democratic Party and the America she and The Obama's have created."
WHAT DID THE BANKSTERS KNOW ABOUT OUR ACTOR OBAMA THAT WE DIDN’T KNOW?
Records show that four out of Obama's top five contributors are employees of financial industry giants - Goldman Sachs ($571,330), UBS AG ($364,806), JPMorgan Chase ($362,207) and Citigroup ($358,054).
BARACK OBAMA HAS COLLECTED NEARLY TWICE AS MUCH MONEY AS JOHN McCAIN
BY DAVID SALTONSTALL
DAILY NEWS SENIOR CORRESPONDENT
Wall Street firms have chipped in more than $9 million to Barack Obama. Zurga/Bloomberg
Wall Street is investing heavily in Barack Obama.
Although the Democratic presidential hopeful has vowed to raise capital gains and corporate taxes, financial industry bigs have contributed almost twice as much to Obama as to GOP rival John McCain, a Daily News analysis of campaign records shows.
“The administration has been pushing hard for a
settlement among state attorneys general, the nation's five
TOP EVIL CORPORATIONS LOOTING AMERICA
Goldman Sachs TRUMP CRONIES – CLINTON CRONIES
JPMorgan Chase OBAMA CRONIES
ExxonMobil
Halliburton BUSH CRIME FAMILY CRONIES
British American Tobacco
Dow Chemical
DuPont
Bayer
Microsoft
Google CLINTON CRONIES
Facebook OBAMA CRONIES
Amazon
Walmart
Gary Cohn: ‘I Am a Globalist
— I Believe We Live in a Globalized World’
0:54
Former President Donald Trump economic adviser and
former Goldman Sachs COO Gary Cohn, when asked
Tuesday on CBS’s “This Morning” about Trump calling him a “globalist” and if it was an anti-Semitic remark, proudly proclaimed himself as a globalist.
“I’m absolutely not offended by the term ‘globalist’ as I am a
globalist,” Cohn stated. “I believe we live in a globalized
world. I think the United States is an integral part of a
globalized world. And we have to figure out how to live as a
good citizen in a globalized earth — so do the Chinese, so do
the Russians, so do the Middle Eastern countries.”
“We are globalized. We cannot change that fact,” he
concluded.
Home Sales Plunged 9.7% in May as Coronavirus Lockdowns Kept Americans Indoors
2:07
Sales of previously owned homes fell 9.7 percent in May compared April, the third monthly decline, the National Association of Realtors said Monday.
Existing home sales are counted at the time of closings. So these would have been based on contacts signed in March and April, when most of the country was under instructions to stay at home and real estate showings were off-limits in many areas.
Compared with a year ago, home sales were down 26 percent. Home sales hit an a 13-year high in February but began plunging as the coronavirus discouraged shopping from home, public health officials told Americans to avoid unnecessarily venturing out of their homes, unemployment jumped higher amid mass layoffs, and many states and cities prohibited realtors from showing homes in person.
Previously-owned homes make up most of the housing market, although the sales have a smaller impact on gross domestic product because so much of the work on them has already been completed. Nonetheless, existing home sales can drive sales in appliances, furniture, and home improvement goods. And they remain an important barometer of household confidence and prosperity.
Each of the four major regions of the country witnessed dips in month-over-month and year-over-year sales, with the Northeast experiencing the greatest month-over-month drop, according to the NAR.
The decline was worse than the 8.8 percent expected. Many economists expect that low interest rates and the reopening of the economy will drive up sales in June and in the months to come. Real estate showings are once again permitted in most of the country. Home sales typically peak in mid-summer.
According to the NAR, inventory of homes on the market increased to 1.55 million in May from 1.46 million in April. That is still 18.8 pecent below last year’s level. Inventory, like sales, tends to fall in the second half of the year into December and then rise to its peak in mid-summer.
“During his time running mortgage lender OneWest, which he bought with a group of investors for pennies on the dollar before selling it for a personal profit of many millions, Steven Mnuchin & Co. foreclosed on more than 36,000 homeowners. Because (1) that’s a lot of people kicked out of a lot houses and (2) everyone loves a good nickname, Mnuchin has earned the moniker, in some circles, “Foreclosure King,” or ”Foreclosure King of California,” if you’re not one for brevity.” BESS LEVIN
Steve Mnuchin, foreclosure king, now runs your US Treasury
BY MARK PLOTKIN
Where do they find these people? Appointed by the president as Cabinet members, many have past lives and records that should immediately disqualify them for any high office.
Someone who has not been given the attention he so richly deserves is Steven Mnuchin, the new secretary of the Treasury.
Only one Democratic senator voted for him: Joe Manchin of West Virginia. Every other Democratic senator voted a resounding "no."
Sen. Tim Kaine (D-Va.) said the following of Mnuchin: "His complicity in the 2008 financial crisis raises serious doubts."
Sen. Robert Menendez (D-N.J.) went further: "He was part of the cadre of corporate raiders that brought our economy to its knees."
Of the astute businessman's failure to disclose $100 million in an overseas tax haven, Menendez added: "One does not go and create offshore entities at the end of the day other than to avoid, in some form or fashion, the tax laws of the United States. That's pretty simple."
Sen. Tammy Duckworth (D-Ill.) did not hesitate to call Mnuchin "greedy" and "unethical." She backed it up with these blunt words: "Whether illegally foreclosing on thousands of families, skirting the law with offshore tax havens or helping design tactics that contributed to the 2008 financial crisis, Steve Mnuchin made a career — and millions of dollars — pioneering increasingly deceptive and predatory ways to rob hardworking Americans of their savings and homes."
Seemingly, Mnuchin was another one of President Trump's campaign thank-yous. He was one of the very few corporate executives who would actually step forward and be seen raising money for Trump, even going so far as becoming the campaign's national finance chair.
Before that, though, Mnuchin distinguished himself by making out like a bandit during the worst financial crisis our country has faced since the Great Depression.
This is all well-documented by David Dayen, author of "Chain of Title: How Three Ordinary Americans Uncovered Wall Street's Great Foreclosure Fraud." In an exhaustive article in The Nation, Dayen chronicles how Mnuchin got fabulously rich while hundreds of thousands lost their homes.
In 2008, Mnuchin made a deal with the Federal Deposit Insurance Corporation (FDIC). He and his investment group bought a predatory lender named Indy Mac, renaming it "OneWest." They then started foreclosing on homeowners.
While doing that, he "harvested fees for appraisals and inspections and late payments, and got protected by a federal backstop. The FDIC lost $13 billion on Indy Mac; Mnuchin and company made $3 billion in profits."
To make this tidy sum for himself, Mnuchin used something called "servicer-driven defaults." This practice entailed "telling homeowners they must miss payments to get help, and when they do, [the banks] move to foreclose."
The other devious ploy is something called "dual tracking." This is "where servicers negotiate modifications and pursue foreclosures at the same time."
If that were not enough, Dayen cites "a decided racial component. 68 percent of OneWest 36,000 plus foreclosures in California were in non-white areas." In addition, "OneWest was a market leader in foreclosing on the elderly: its subsidiary Financial Freedom carried out a disproportionate number of reverse mortgage foreclosures, which target seniors to suck out their home equity."
Finally, to top it off, OneWest engaged in thousands of "robo signings." This was the odious and fraudulent practice of signing sworn affidavits while not reviewing the documents. Some were signed at "30 seconds a clip." This practice was done "750 times a week on eventually 36,000 plus loans."
Dayen claims that "millions of homeowners were thrown out of their homes based on false documents."
So the long and short of this is that one Steven Mnuchin, who led and sanctioned these horrible business practices, is rewarded with a position that is fifth in the presidential line of succession.
Couldn't Trump find someone who didn't have such a record? Someone who didn't benefit from the misery of others?
The president has demonstrated once again that he so sorely lacks good judgment, and, contrary to his claims, has no apparent skill in picking talented or qualified people to serve our country.
Mark Plotkin is a contributor to the BBC on American politics and a columnist for The Georgetowner. Previously, he was the political analyst for WAMU-FM, Washington's NPR affiliate, and later became the political analyst for WTOP-FM, Washington's all-news radio station. He is a winner of the Edward R. Murrow Award for excellence in writing.
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