President Trump's Team

Tide1986

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Interesting political move if it turns out to be true:

http://www.nytimes.com/2016/11/29/us/politics/elaine-chao-transportation-trump.html

WASHINGTON — President-elect Donald J. Trump has selected Elaine L. Chao, the former labor secretary under George W. Bush, to head the Department of Transportation, elevating someone who has been a fixture of the Republican establishment in Washington to a post that could become integral to shaping one of the most ambitious parts of Mr. Trump’s agenda.
 
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Tide1986

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Expected nominee for Treasury Secretary:

http://www.nytimes.com/2016/11/29/u...er-mnuchin-trump-treasury-secretary.html?_r=0

WASHINGTON — Steven Mnuchin, a financier with deep roots on Wall Street and in Hollywood but no government experience, is expected to be named Donald J. Trump’s Treasury secretary as soon as Wednesday, people close to the transition say.

Mr. Mnuchin, 53, was the national finance chairman for Mr. Trump’s campaign, and his selection would elevate a wealthy loyalist to a pivotal economic post. He began his career at
Goldman Sachs, where he became a partner, before creating his own hedge fund, moving to the West Coast and entering the first rank of movie financiers by bankrolling hits like the “X-Men” franchise and “Avatar.”
 

Crimson1967

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Trivia:

Chao would be the second woman to have been labor secretary, transportation secretary and married to the senate majority leader (first was Elizabeth Dole). The new political hat trick?
I did not know she was married to McConnel.


Sent from my iPhone using Tapatalk
 

CharminTide

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A Goldman Sachs partner turned hedge fund manager who made billions aggressively foreclosing people's homes during the financial collapse? Sure, let's make that guy Treasury Secretary.

At some point, can we just stop calling Trump a populist and recognize that he is actually, against all odds, somehow enriching the swamp?
 

92tide

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A Goldman Sachs partner turned hedge fund manager who made billions aggressively foreclosing people's homes during the financial collapse? Sure, let's make that guy Treasury Secretary.

At some point, can we just stop calling Trump a populist and recognize that he is actually, against all odds, somehow enriching the swamp?
it's like the late 1800's all over again
 

81usaf92

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A Goldman Sachs partner turned hedge fund manager who made billions aggressively foreclosing people's homes during the financial collapse? Sure, let's make that guy Treasury Secretary.

At some point, can we just stop calling Trump a populist and recognize that he is actually, against all odds, somehow enriching the swamp?
No one with half a mind thought of him a true populist. But he did run a populist campaign.
 

tidegrandpa

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A Goldman Sachs partner turned hedge fund manager who made billions aggressively foreclosing people's homes during the financial collapse? Sure, let's make that guy Treasury Secretary.

At some point, can we just stop calling Trump a populist and recognize that he is actually, against all odds, somehow enriching the swamp?
I guess you preferred this genius, only owed IRS $17-25,000 when took office. Jeez.
 

seebell

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https://www.washingtonpost.com/worl...608fbb3aaf6_story.html?utm_term=.ca7a7e245019

President-elect Donald Trump has asked Preet Bharara, the hard-charging federal prosecutor in Manhattan who’s made his name going after cases of public corruption, to stay on in his position.
As U.S. Attorney for the Southern District of New York, Bharara, who was born in India and whose parents brought him to the United States as a child, heads one of the highest-profile federal prosecutors’ offices in the country.
 

sabanball

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Back to topic then...

A Goldman Sachs partner turned hedge fund manager who made billions aggressively foreclosing people's homes during the financial collapse? Sure, let's make that guy Treasury Secretary.
1. The people purchased the home and signed the mortgage on their own accord correct?

2. Regardless of why (everyone's situation is different), those same people defaulted on those mortgages correct?

3. Foreclosure proceedings don't start until after 3 payments are missed (90 days) and then most financial institutions would try to work with the home owner by doing things like a restructure (if possible) or a "short sale" for example.

From IndyMac to OneWest: Steven Mnuchin's Big Score

The man who made his name in mortgages has found them to be the thorniest part of running OneWest. It turns out that owning and servicing mortgages is a very different business from slicing them up and trading them. Mnuchin is sensitive about accusations made by a wide range of industry observers, notably the real estate site Think Big Work Small, that OneWest has been unusually aggressive in foreclosing on its mortgage holders and unwilling to modify those loans. This perception was dramatized in 2011 when homeowner Rose Gudiel, 34, refused to vacate her La Puente (Calif.) home after being declared delinquent in paying her $2,500 monthly mortgage, which was owned by Fannie Mae but serviced by OneWest.

Gudiel tapped into the Occupy Los Angeles movement, which organized the protest in front of Mnuchin’s estate last Oct. 4.
OneWest eventually did convince Fannie Mae to agree to modify Gudiel’s mortgage, allowing her to keep her house. Mnuchin says that OneWest’s servicing contracts were purchased from the FDIC and don’t always allow for modifications. “We run them through a waterfall test to see if they qualify,” says Mnuchin. The test factors in the value of the property, the amount due, and the income of the mortgage holder to determine what the mortgage would be worth if foreclosed upon versus what it would be worth modified. “If it is a higher value to modify the loan, then we modify it, as opposed to foreclosing,” he says.
Mnuchin didn't invent predatory lending nor did he invent aggressive debt collection either. Are the financial institutions suppose to just write off the debt and give the people the home?

Just trying to understand your reasoning that Mnuchin basically doing his job when the homeowner defaulted and refused to vacate on the mortgage would make him "bad"
 

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