Some Americans can’t deck the halls this holiday season because the banks foreclosed on their homes after the financial crisis.
We know the story. The banks got bailed out; the bankers made millions and then bailed on the American people.
Steven Mnuchin--aka “the Foreclosure King”--is one of those bankers. In 2009, Mnuchin sought to benefit from the housing bust. He assembled a group of investors to buy IndyMac, a failed bank; renamed the bank OneWest Bank; ran it for six years; and then recently sold it for a profit of $1.5 billion. Housing advocates have described how OneWest’s aggressive (and sometimes illegal) practice of buying distressed mortgages caused tens of thousands to lose their homes.
Trump has picked Mnuchin for Secretary of the Treasury. Like Trump, Mnuchin has zero government experience, but some Hollywood experience. Mnuchin was the Executive Producer of Suicide Squad, a movie about a secret government agency that recruits villains to save the world from the apocalypse.
The Democrats need our help in writing a very different kind of story--the tragic but true story of Americans who lost their homes because of mortgage villains.