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U.S. Senate Approves Assigning Mnuchin Treasury Secretary - ASHARQ AL-AWSAT English Archive
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Washington – Steven Mnuchin, whose previous roles have included former CEO of OneWest Bank, Wall Street banker and film financier, was confirmed Monday as Treasury secretary, ensuring his place in President Donald Trump’s economic inner circle.

The U.S. Senate voted to confirm Mnuchin 53-47, with all but one Democrat opposing him over his handling of thousands of foreclosures as head of OneWest Bank after the 2007-2009 housing collapse.

As Treasury Secretary, Mnuchin, 54, will oversee a massive department that runs the federal tax system, pays the nation’s bills and produces currency and stamps.

As one of Trump’s top advisors, the New York City native will have the president ear in his key economic priorities, including tax reform, rolling back regulations on banks established by the Dodd-Frank Act, infrastructure project funding and changing or repealing Obamacare.

He served as Trump’s 2016 national campaign finance chief.

Mnuchin, who spent 17 years at Goldman Sachs before starting his hedge fund, fielded combative questions from Democrats during his Senate Finance Committee hearing about his offshore assets and reign at OneWest, which has been accused of aggressive foreclosures.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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