FILE - Former Treasury Secretary Steve Mnuchin speaks with reporters at the White House, March 13, 2020, in Washington. Mnuchin is interested in buying TikTok, just days after his investment firm led a $1 billion deal to inject life into a beaten-down bank.FILE - Former Treasury Secretary Steven Mnuchin leaves Federal Court after testifying in Tom Barrack’s trial, Oct. 20, 2022, in the Brooklyn borough of New York.
“When you’re at the top of the financial policymaking hierarchy, you don’t jump from that to figure out how you can help yourself,” Weissman said. Much of that money was from government-controlled investment funds in Saudi Arabia and other Persian Gulf states, which Mnuchin had frequently visited as Treasury secretary. He was in the Middle East just weeks before leaving office, cutting the trip short after the Jan. 6 Capitol riot.
OneWest bought all of IndyMac’s deposits and assets at a discount of $4.7 billion following an auction by the Federal Deposit of Insurance Corp. The FDIC also agreed to share in the losses created by some mortgages tied to single-family homes. Advocates found the bank particularly difficult to work with under government mortgage modification programs. Some of those who lost their homes had voted for Trump in 2016 and were