The Senate finally confirmed President Donald Trump’s pick for Treasury secretary, Steven Mnuchin, in a 53-47 vote Monday evening.
Mnuchin, who served as the president’s campaign finance chairman last year, is expected to take the lead on Trump’s plans to push back financial regulations and cut U.S. taxes. Though the Goldman Sachs veteran has been confirmed, there is still a lot of opposition to his appointment, particularly because of his company's actions during the housing crisis.
A heavy talking point for Democrats during Mnuchin's confirmation hearing was the role he played in (and how he profited from) pushing thousands of homeowners’ mortgages to foreclosure through the now-failed IndyMac Bank (rebranded OneWest Bank), which he took over from the federal government.
The delay in filling Trump’s Treasury post was the longest in the nation’s history, the Wall Street Journal reports, and the lack of bipartisan support for this particular position was also rare. Following his nomination, Mnuchin announced that removing mortgage behemoths Fannie Mae and Freddie Mac from government control was a top priority for the administration. The country will have to wait and see how the 54-year-old will work with both parties to push forward these agendas.
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