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David Dayen: Bankers and Profiteers of the “Great Foreclosure Machine”

Livinglies's Weblog

https://www.democracynow.org/2016/12/2/bankers_behind_great_foreclosure_machine_joine

We look at two of Donald Trump’s Cabinet picks: Steven Mnuchin for treasury secretary and Wilbur Ross for commerce secretary. Mnuchin has deep ties on Wall Street, including working as a partner for G

oldman Sachs, and his hedge fund played a role in the housing crisis after it scooped up the failing California bank IndyMac in 2008. Trump’s commerce secretary pick, Wilbur Ross, is a billionaire private equity investor who specializes in flipping bankrupt companies for profit, often buying the U.S. companies at low prices and then selling them to overseas investors. He and his companies have sometimes shipped jobs and factories overseas—practices Donald Trump has railed against. We are joined by David Dayen, whose recent article for The Nation is “Wilbur Ross and Steve Mnuchin—Profiteers of the Great Foreclosure Machine—Go to Washington.”


TRANSCRIPT
This is a rush transcript. Copy may not be in its final form.

AMY

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