ADVERTISEMENT
Samantha Bee torches President's treasury secretary nominee, known as the 'foreclosure king'
In fact, the company is being investigated by the government for potentially illegal home foreclosure practices.
null
ADVERTISEMENT
Recommended articles
Bee questioned the veracity of the president-elect's promise to "drain the swamp" in government, given that Mnuchin is one of five Goldman Sachs alums to be chosen for a Trump cabinet position.
"Trump was lying," the host said. "As the saying goes, keep your friends close and your friends that you called your enemies when you were saying any f---ing thing to get elected closer."
The confirmation hearings for Mnuchin, who Bee said looks like "Last Week Tonight" host John Oliver's evil twin, begin on Thursday, so the host thought she should introduce the man to her viewers. In addition to Goldman Sachs, Mnuchin bankrolled several big movies, including "Avatar" and "Suicide Squad," which Bee said is also her nickname for "working class people who voted for Trump."
ADVERTISEMENT
Unlike most Americans, Mnuchin made a great deal of money from the "great recession of 2008" after founding OneWest Bank (formerly IndyMac Bank) and Financial Freedom, which provided reverse mortgages and allegedly preyed on retired Americans. In fact, the company is being investigated by the government for potentially illegal home foreclosure practices.
"That's how Mnuchin earned the nickname 'Foreclosure King,' not to be confused with the cheapest bed at the Mattress Warehouse," Bee joked.
Mnuchin's bank is reportedly responsible for more than one-third of all reverse mortgage foreclosures. Reverse mortgages suspend payments for people over the age of 62 until their death. Their families must then take over the mortgages or the homes are foreclosed. They're referred to as "widow foreclosures" as many of the victims are women who typically outlive their husbands.
"What do they do to you in jail when they find out you're a widow forecloser?" Bee said. "Oh, right, nothing, because you don't go to jail. You just sell the company, take a $380 million profit, and get promoted to treasury secretary."
FOLLOW BUSINESS INSIDER AFRICA
ADVERTISEMENT
Recommended articles
OPEC excited about partnership with Namibia
The US loses to Russia and China in popularity across Africa
Top 10 most valuable South African brands in 2024
Africa's giants play tug of war for the top economic spot
Morocco is making giant strides to become Africa's aviation manufacturing hub
Hackers test their ransomwares in less protected regions like Africa before striking richer nations: Report
Top social media platforms used for agriculture in Kenya - Survey
African countries with the fastest-growing military strength in 2024
