SUBSCRIBE TO OUR FREE NEWSLETTER
Daily news & progressive opinion—funded by the people, not the corporations—delivered straight to your inbox.
5
#000000
#FFFFFF
5
#000000
#FFFFFF
Treasury Set for Wall Street Takeover as Mnuchin Poised for Confirmation
With no Republicans indicating opposition, Senate likely to confirm 'foreclosure king' as Treasury Secretary
Feb 13, 2017
Treasury Secretary nominee Steven Mnuchin, who is expected to be confirmed by the U.S. Senate on Monday, is reportedly looking to fill cabinet positions with Wall Street executives and Republican establishment figures.
Politico reports:
Senior Goldman Sachs banker Jim Donovan is under strong consideration for deputy Treasury secretary and could serve as Mnuchin's No. 2 if confirmed by the Senate, people familiar with the matter said. Justin Muzinich, a former Morgan Stanley banker now at Muzinich, is likely to take a senior position possibly as undersecretary for domestic finance or counselor, the people said. The counselor position would not require Senate confirmation.
Economist David Malpass, a veteran of the Ronald Reagan and George H.W. Bush administrations, is expected to be nominated by President Donald Trump to serve as undersecretary for international affairs.
Although none of the decisions are final, all three men are "well-known on Wall Street and in Washington," Politico writes.
Mnuchin's nomination has been seen as one of many signals that the Trump administration is breaking its promise to rid the White House of corporate power.
He passed out of the Senate Finance Committee earlier this month amid a Democratic boycott of nominees after Republicans flouted rules requiring at least one member of each party present on the panel to hold a vote.
Democrats have vowed to vote against the former Goldman Sachs banker they've nicknamed the "foreclosure king," but no Republican has indicated opposition, setting the stage for a 52-48 confirmation along party lines, Reuters notes.
The Senate vote is scheduled to take place as late as 7:00pm Monday.
An Urgent Message From Our Co-Founder
Dear Common Dreams reader, It’s been nearly 30 years since I co-founded Common Dreams with my late wife, Lina Newhouser. We had the radical notion that journalism should serve the public good, not corporate profits. It was clear to us from the outset what it would take to build such a project. No paid advertisements. No corporate sponsors. No millionaire publisher telling us what to think or do. Many people said we wouldn't last a year, but we proved those doubters wrong. Together with a tremendous team of journalists and dedicated staff, we built an independent media outlet free from the constraints of profits and corporate control. Our mission has always been simple: To inform. To inspire. To ignite change for the common good. Building Common Dreams was not easy. Our survival was never guaranteed. When you take on the most powerful forces—Wall Street greed, fossil fuel industry destruction, Big Tech lobbyists, and uber-rich oligarchs who have spent billions upon billions rigging the economy and democracy in their favor—the only bulwark you have is supporters who believe in your work. But here’s the urgent message from me today. It's never been this bad out there. And it's never been this hard to keep us going. At the very moment Common Dreams is most needed, the threats we face are intensifying. We need your support now more than ever. We don't accept corporate advertising and never will. We don't have a paywall because we don't think people should be blocked from critical news based on their ability to pay. Everything we do is funded by the donations of readers like you. When everyone does the little they can afford, we are strong. But if that support retreats or dries up, so do we. Will you donate now to make sure Common Dreams not only survives but thrives? —Craig Brown, Co-founder |
Our work is licensed under Creative Commons (CC BY-NC-ND 3.0). Feel free to republish and share widely.
Nadia Prupis
Nadia Prupis is a former Common Dreams staff writer. She wrote on media policy for Truthout.org and has been published in New America Media and AlterNet. She graduated from UC Santa Barbara with a BA in English in 2008.
Treasury Secretary nominee Steven Mnuchin, who is expected to be confirmed by the U.S. Senate on Monday, is reportedly looking to fill cabinet positions with Wall Street executives and Republican establishment figures.
Politico reports:
Senior Goldman Sachs banker Jim Donovan is under strong consideration for deputy Treasury secretary and could serve as Mnuchin's No. 2 if confirmed by the Senate, people familiar with the matter said. Justin Muzinich, a former Morgan Stanley banker now at Muzinich, is likely to take a senior position possibly as undersecretary for domestic finance or counselor, the people said. The counselor position would not require Senate confirmation.
Economist David Malpass, a veteran of the Ronald Reagan and George H.W. Bush administrations, is expected to be nominated by President Donald Trump to serve as undersecretary for international affairs.
Although none of the decisions are final, all three men are "well-known on Wall Street and in Washington," Politico writes.
Mnuchin's nomination has been seen as one of many signals that the Trump administration is breaking its promise to rid the White House of corporate power.
He passed out of the Senate Finance Committee earlier this month amid a Democratic boycott of nominees after Republicans flouted rules requiring at least one member of each party present on the panel to hold a vote.
Democrats have vowed to vote against the former Goldman Sachs banker they've nicknamed the "foreclosure king," but no Republican has indicated opposition, setting the stage for a 52-48 confirmation along party lines, Reuters notes.
The Senate vote is scheduled to take place as late as 7:00pm Monday.
Nadia Prupis
Nadia Prupis is a former Common Dreams staff writer. She wrote on media policy for Truthout.org and has been published in New America Media and AlterNet. She graduated from UC Santa Barbara with a BA in English in 2008.
Treasury Secretary nominee Steven Mnuchin, who is expected to be confirmed by the U.S. Senate on Monday, is reportedly looking to fill cabinet positions with Wall Street executives and Republican establishment figures.
Politico reports:
Senior Goldman Sachs banker Jim Donovan is under strong consideration for deputy Treasury secretary and could serve as Mnuchin's No. 2 if confirmed by the Senate, people familiar with the matter said. Justin Muzinich, a former Morgan Stanley banker now at Muzinich, is likely to take a senior position possibly as undersecretary for domestic finance or counselor, the people said. The counselor position would not require Senate confirmation.
Economist David Malpass, a veteran of the Ronald Reagan and George H.W. Bush administrations, is expected to be nominated by President Donald Trump to serve as undersecretary for international affairs.
Although none of the decisions are final, all three men are "well-known on Wall Street and in Washington," Politico writes.
Mnuchin's nomination has been seen as one of many signals that the Trump administration is breaking its promise to rid the White House of corporate power.
He passed out of the Senate Finance Committee earlier this month amid a Democratic boycott of nominees after Republicans flouted rules requiring at least one member of each party present on the panel to hold a vote.
Democrats have vowed to vote against the former Goldman Sachs banker they've nicknamed the "foreclosure king," but no Republican has indicated opposition, setting the stage for a 52-48 confirmation along party lines, Reuters notes.
The Senate vote is scheduled to take place as late as 7:00pm Monday.
We've had enough. The 1% own and operate the corporate media. They are doing everything they can to defend the status quo, squash dissent and protect the wealthy and the powerful. The Common Dreams media model is different. We cover the news that matters to the 99%. Our mission? To inform. To inspire. To ignite change for the common good. How? Nonprofit. Independent. Reader-supported. Free to read. Free to republish. Free to share. With no advertising. No paywalls. No selling of your data. Thousands of small donations fund our newsroom and allow us to continue publishing. Can you chip in? We can't do it without you. Thank you.