Treasury nominee initially omitted more than $100 million from disclosures, Democratic memo says

[mahatmakanejeeves]

Last edited Thu Jan 19, 2017, 01:15 PM - Edit history (1)

Source: Washington Post

Treasury nominee initially omitted more than $100 million from disclosures, Democratic memo says

By Ylan Q. Mui and Ed O'Keefe

January 19 at 8:45 AM

President-elect Donald Trumps nominee to lead the Treasury Department initially failed to disclose his interests in a Cayman Islands corporation as well as more than $100 million in personal assets, according to a memo by Democratic staffers on the Senate Finance Committee that was obtained by The Washington Post. ... "The reason nominees are allowed to amend their disclosure forms is to ensure that all the information provided is correct," said Mnuchin spokeswoman Tara Bradshaw. "That is why we have provided the appropriate amended forms to the committee."

Steven T. Mnuchin is slated to face lawmakers Thursday in what is expected to be a testy confirmation hearing before the Senate Finance Committee. Mnuchin has already come under fire for his management of a controversial California bank accused of aggressively foreclosing on homeowners and discriminating against minorities charges that he denies. Democrats have also sought to highlight the former Goldman Sachs executives deep ties to Wall Street in hopes of undercutting Trumps populist appeal, and the new details of his financial holdings are likely to provide them more ammunition.

According to the memo, Mnuchin submitted answers Dec. 19 to a standard committee questionnaire seeking information about his financial and business interests. At the time, Mnuchin verified that those responses were accurate and complete. ... However, Mnuchin had left out $95 million in real estate from his initial disclosures, according to the memo. Those assets included a co-op in New York City and homes in Southampton, New York, and Los Angeles. In addition, the memo revealed that Mnuchin possesses about $15 million worth of real estate in Mexico.

Mnuchin also at first failed to disclose his role as director of Dune Capital International, which is incorporated in the Cayman Islands, the document shows. He also holds positions in nine other business entities and three trusts, including one connected to Sears Chief Executive Edward Lampert, Mnuchins former college roommate.

{Whistleblower suit alleges widespread problems at bank run by Treasury nominee}*

....
Ylan Q. Mui is a financial reporter at The Washington Post covering the Federal Reserve and the economy. Follow @ylanmui
https://twitter.com/ylanmui

Ed OKeefe is a congressional reporter who has covered congressional and presidential politics since 2008. He previously covered federal agencies, the federal workforce and spent a brief time covering the war in Iraq. Follow @edatpost
https://twitter.com/edatpost

* https://www.washingtonpost.com/news/wonk/wp/2017/01/18/whistleblowers-allege-widespread-problems-at-bank-run-by-treasury-nominee/

Read more: https://www.washingtonpost.com/news/wonk/wp/2017/01/19/treasury-nominee-initially-omitted-more-than-100-million-from-disclosures-democratic-memo-shows/

[rgbecker]

1. What's a hundred Million here or there?

For these billionaires, 20 dollar bills are like dimes. A few in the couch, maybe in the back of a drawer and some in car's ashtray. Hard to keep track of every million for a guy like this. They've worked so hard earning all that money you know. You can tell by how careful they are to account for everything. I say, give 'em a break.

[Midnight Writer]

6. Damn right! Do they expect folk to keep track of every little money stash?

Hell, it's not like he's in charge of the largest global economic entity in history.

Not yet.

[WhiteTara]

2. Lying, Cheating and Stealing

are what they know and do all the time.

[paparush]

3. Blames overwhelming bureaucracy and too many forms

NEVER, NOT ONCE, WILL A REPUG TAKE RESPONSIBILITY.

[Blue_Tires]

4. NEVER forget Tom Daschle had to withdraw his name for HHS

for not declaring the use of a car and chauffeur

[PatrickforO]

5. So...what's this about clearing the swamp?

I'm thinking he's wrecking the levee so the swamp GETS BIGGER.