>> On this vote the yeas are 53, the nays are 47. The nomination is confirmed.>> The US Senate confirming former Goldman Sachs banker Steve Mnuchin as Treasury Secretary Monday, despite heavy pushback from Democrats. Who had boycotted Mnuchin's approval by the Senate Finance Committee. The former Wall Street titan has come under fire for his hedge fund's 2008 acquisition of failed lender Indymac, which foreclosed on thousands of homes during the 2009 housing crisis.
Mnuchin and later rebranding the bank as One West and selling it in 2015 personally making hundreds of millions of dollars of the deal. Democratic senator Elizabeth Warren of Friday making the last ditch effort to derail Mnuchin's nomination, charging he quote, flat out lied about One West use of so called robo signings, a practice in which the signing of court documents, including those for foreclosures, are automated without adequate review by bank officials.
Mnuchin also helped finance Hollywood blockbusters such as Avatar, American Sniper, and this past weekends box office champ The Lego Batman movie. His appointment to Treasury Secretary signaling US President Donald Trump's trust in Wall Street bankers and other senior business executives to steer the country's economy. Trump's top economic advisor is Gary Cohen, another former Goldman Sachs executive.
Mnuchin and Cohen will focus on President Trump's goals of stripping away many of the financial services industry regulations put in place by the Obama Administration after the 2009 mortgage crisis and recession.