Donald Trump’s cabinet appointments are not like “a box of chocolates” because we know exactly what we’re getting — political insiders, Koch puppets, and greedy hucksters with only their self-interests in mind. So Senator Elizabeth Warren (D-Mass.) is furious about Trump’s newest cabinet appointment for Treasury Secretary, Steven Mnuchin.
Sen. Warren did not mince words in her description of Mnuchin calling him the “Forrest Gump of the financial crisis” because he was always there to “participate in all the worst practices on Wall Street.”
His selection as Treasury Secretary should sen
d shivers down the spine of every American who got hit hard by the financial crisis, and is the latest sign that Donald Trump has no intention of draining the swamp and every intention of running Washington to benefit himself and his rich buddies.
Indeed, Mnuchin, a former executive for Goldman Sachs Inc., says his first order of business is stripping Dodd-Frank, which imposed strict regulations on Wall Street, of its regulatory powers, which puts the power back in Wall Street’s hands to go back to business as usual of being financial predators.
Warren notes Mnuchin played his own role in the financial crisis that besieged this country eight years ago, saying:
[Mnuchin] spent two decades at Goldman Sachs helping the bank peddle the same kind of mortgage products that blew up the economy and sucked down billions in taxpayer bailout money, before he moved on to run a bank that was famous for aggressively foreclosing on families.
The bank Warren is referring to was called IndyMac which was also responsible for selling garbage home mortgages leading up to the burst of the housing bubble. After Mnuchin purchased the bank and renamed it OneWest, he was bailed out by the FDIC by claiming the purchase as a loss and began foreclosing homes without review or due process.
Isn’t it odd, Hillary Clinton’s ties to Wall Street were the boogeyman of the election, yet Trump has no problem appointing one its worst players to a cabinet position that oversees the financial industry?
The irony did not escape Warren’s notice either as she called Trump out for filling his cabinet with Mnuchin and 20 other Wall street insiders and lobbyists:
You made numerous promises to the American people in your election campaign, none bigger than the promise to ‘drain the swamp’ of Washington D.C. special interests rigged against the middle class. The decisions you make with your transition team will shape the next four years of this nation. They will also reflect the strength of your character and your ability to truly lead–not just follow the marching orders of the special interests and Wall Street bankers you purportedly oppose.
If Trump supporters thought they were filling the government with fresh new faces, with fresh new ideas on how to govern, they were sorely mistaken. Instead, with Trump’s latest appointment it’s becoming ever more apparent he’s “draining the swamp” and filling it with recycled sewage, who bring their old, dangerous ideas back to the table to bend the American people over once more.
Warren says she will do everything in her power to thwart Trump’s Administration if he does not push the special interests out.
It’s a well-known fact that while previous administrations loosened the rules on Wall Street and allowed the banks to become too big to fail, that under the Bush Administration regulators were asleep at the wheel and allowed the financial industry to run wild. This lack of regulation led to the Great Recession. It’s impossible to believe with someone like Mnuchin at the wheel that the financial industry won’t run wild again, and Warren sees it coming.
It’s time to get those buckets of food Jim Bakker is always trying to sell, because combined with Trump’s proposed tariffs and trade wars, tax cuts (which would turn into increases after the deficit blows up), reduced regulations on corporations, and imminent wars the 99 percent are in for one hell of a bumpy ride.