In his pick to lead the Treasury, Steve Mnuchin, President-elect Donald Trump found a candidate whose credentials run counter to all the everyman, Wall Street-bashing rhetoric he used on the campaign trail.
Mnuchin worked for the Wall Street giant Goldman Sachs for nearly two decades, and used the 2008 housing market crash as a major payday, just like our next president.
According to reporting published Thursday by Politico, OneWest, the bank that Mnuchin and his partners founded during the collapse, actually tried to kick a 90-year-old woman out of her house over a measly $0.27.
After some confusion about her insurance coverage two years back, a subsidiary of OneWest sent Ossie Lofton, of Lakeland, Florida, a bill for $423.30. Lofton sent the bank a check for $423, and got another bill for the remaining $0.30. The woman–who, it’s worth emphasizing again here, is 90 years old–mailed in a check for $0.03.
The mix-up was enough to trigger foreclosure proceedings. Lawyers at the non-profit Florida Rural Legal Services asked the court for a jury trial.
It’s also worth emphasizing that as OneWest twisted an elderly woman’s arm over three pennies, Mnuchin cashed in bigly, taking home a reported $11 million paycheck after a pulling off a $3.4 billion merger last year with CIT Bank.
How’s that for draining the swamp?