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Steven Mnuchin confirmed as Secretary, U.S. Department of the Treasury

Feb. 14, 2017: Steven Mnuchin was confirmed as the Secretary of the U.S. Department of the Treasury last night, Monday, Feb. 13, 2017. Mnuchin was confirmed in a 53-47 vote. U.S. Sen. Joe Manchin, West Virginia, was the only Democrat to vote in Mnuchin’s favor. Mnuchin, 54, Republican, has worked as a hedge fund chief executive officer, a banker and a Hollywood film producer. Mnuchin previously worked for the financial firm Goldman Sachs for seventeen years, at one point holding the post of Chief Information Officer. During the financial crisis of 2007 and 2008, Mnuchin bought failed residential lender IndyMac. He changed the name to OneWest Bank and rebuilt the bank, then sold it to CIT Group in 2015. Mnuchin is the third former Goldman Sachs executive to lead the Treasury Department in recent decades, joining Robert Rubin and Henry Paulson. As Treasury Secretary, Mnuchin will also be the Chairman of the Financial Stability Oversight Council, which is tasked with coordinating regulatory oversight over the financial and banking industries across federal government agencies. Mnuchin, a Yale University graduate, was recently the chief executive officer of New York-based hedge fund Dune Capital.


Attribution: Politico, Wikipedia


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