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Olivia Alperstein
olivia@progressivecongress.org

 

December 1, 2016

 

Progressive Congress Statement: Trump’s Nomination of Steven Mnuchin as Secretary of the Treasury Is “A Slap in the Face to Workers Everywhere”

 

Washington, D.C.— Progressive Congress, an inside-outside strategy organization that works closely with the Congressional Progressive Caucus, issued the following statement in response to President-elect Donald Trump’s nomination of Steven Mnuchin as Secretary of the Treasury:

“President-elect Donald Trump’s decision to nominate Steven Mnuchin, a former head of Goldman Sachs who helped orchestrate the disastrous risky banking practices that led to the Great Recession, is an insult to every ordinary worker to whom Trump promised that he would fight the influence of corporate lobbyists and Wall Street bankers in the White House.

Mnuchin was part of the team at Goldman Sachs who decided to put profits above people’s economic well-being, targeting communities for high-risk loans and mortgages. When our economy collapsed, Goldman Sachs got bailed out while ordinary people lost their life savings. Mnuchin is a Wall Street moneymaker who does not have the interests of hard-working ordinary Americans at heart, and his appointment as Secretary of the Treasury would be disastrous to American taxpayers who want everyone to pay their fair share. After the housing crisis, Goldman Sachs and other big banks were not held accountable, and that suited Wall Street executives just fine. Mnuchin will not put an end to disastrous Wall Street lending practices or corporate giveaways — instead of putting a halt to politics as usual, he will be happy to grease the wheel.

“President Elect Donald Trump's Cabinet selections raise deep concerns for us,” stated Dr. Gabriela D. Lemus, President of Progressive Congress. “Though he vilified Wall Street and Washington, DC — stating he will ‘drain the swamp’— he has instead chosen people with deep Washington and Wall Street connections. These are the very same types of folks he vilified as greedy, corrupt and out of touch during his campaign for the Presidency.  Steven Mnuchin's ties to Goldman Sachs — whose CEO was featured in one of Trump's campaign ads with the accusation of ‘robbing from the working class’— is a slap in the face to workers everywhere and stands in stark contrast to his rhetoric. Mnuchin as Treasury Secretary is akin to putting the fox in the hen house and expecting the chickens to thrive."

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