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
Steven 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. (Photo: Reuters)
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, The U.S. is on a fast track to authoritarianism like nothing I've ever seen. Meanwhile, corporate news outlets are utterly capitulating to Trump, twisting their coverage to avoid drawing his ire while lining up to stuff cash in his pockets. That's why I believe that Common Dreams is doing the best and most consequential reporting that we've ever done. Our small but mighty team is a progressive reporting powerhouse, covering the news every day that the corporate media never will. Our mission has always been simple: To inform. To inspire. And to ignite change for the common good. Now here's the key piece that I want all our readers to understand: None of this would be possible without your financial support. That's not just some fundraising cliche. It's the absolute and literal truth. 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. Will you donate now to help power the nonprofit, independent reporting of Common Dreams? Thank you for being a vital member of our community. Together, we can keep independent journalism alive when it’s needed most. - 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.