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Mnuchin Sees an Asset in Banking Background Reviled by Democrats

By Tony Seruga

Treasury Secretary pick says strong dollar good over long term
Tax reform, IRS modernization, managing debt high on agenda

Steven Mnuchin, Treasury secretary nominee for U.S. President-elect Donald Trump, speaks during a Senate Finance Committee confirmation hearing in Washington, D.C., on Jan. 19.

Photographer: Andrew Harrer/Bloomberg

Treasury Secretary nominee Steven Mnuchin echoed President-elect Donald Trump’s ideas for cutting taxes and seeking fairer trade in an occasionally combative Senate confirmation hearing over his banking record during the financial crisis.

Mnuchin, 54, is a former Goldman Sachs executive-turned Hollywood movie financier who has never served in government. He faced questions from Democrats about his personal finances, including whether he used a Cayman Islands entity to avoid paying taxes, and if he’s suited to represent working people after running a mortgage lender that seized homes from borrowers who fell behind on their payments amid the 2008-2009 housing bust…

Mnuchin Sees an Asset in Banking Background Reviled by Democrats

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