President-elect Donald Trump is likely to appoint financier Steven Mnuchin as his new Treasury secretary.
Mnuchin, 53, has been involved in movie making, political fundraising and banking. He was a Goldman Sachs partner for over 15 years before starting the RatPac-Dune Entertainment hedge fund. He is the CEO of Dune Capital Management LP.
He is now Trump's Treasury secretary pick, according to media reports. The New York Times and The Washington Post were both reporting Monday that Trump insiders said he would take the post. He served as Trump's national finance chairman during his presidential campaign.
Mnuchin's business interest encompass a variety of successful endeavors. Apart from the RatPac fund, he also worked with a hedge fund run by George Soros, who is hardly a friend of Republicans.
He also produced "Mad Max: Fury Road," a powerful reboot of the Mad Max series that started out in 1979, when Mel Gibson starred as a vengeful traffic cop in a dystopian highway society.
His producing activities include "The Lego Movie," "American Sniper," "Black Mass" and "Entourage."
Dune acquired California-based lender IndyMac in 2009, and a variety of lawsuits followed alleging misdeeds involving foreclosure and complaints of redlining by the lender, which was renamed OneWest Bank. An affiliate caught some grief for foreclosing on about one-third of the reverse mortgages that were outstanding from about 2009 to 2016.
Mnuchin was a Mitt Romney supporter in the 2012 presidential campaign, which evidently did not deter Trump from eyeing him for a high-profile position in his incoming administration.