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>> Community group say that One West foreclosed on 60,000 family nationwide.>> And some of the sharpest clashes yet weathered by any of Donald Trump's cabinet picks. Treasury nominees Steven Mnuchin enduring a pummeling from Senate Democrat, Thursday for his role in the 2008 housing crisis. Mnuchin who headed California's Indymac in he hardestly profited from foreclosures at the expense of thousands who lost their homes.
>> I have been maligned as taking advantage of others hardship in order to earn a buck. Nothing could be further than the truth. During the summer of 2008, I saw the devastation that was caused by the housing crisis when I watched people line up to get their lifesavings out of Indymac Bank.
And despite the global panic, I saw a way to save the bank.>> Mnuchin bought the lender later known as One West from the federal government for $1.6 billion. Democrats on the Senate Banking Committee finding the former Goldman Sachs Executive and Hedge Fund Manager an easy mark. Ohio Senator Sherrod Brown reading back a blistering report on One West from a key banking regulator.
>> Is it true that One West regulators, that's the OCC said that you had deficient mortgage practices, foreclosed on 10,000 plus borrowers without proper procedure?>> Mnuchin said, the bank round up modifying over a hundred thousand loans to help avoid even more foreclosures. The 54-year old, also blasted for using tax havens, such as Anguilla in the Cayman Islands to shelter hedge fund profits which Democrats said made him an odd choice to revamp tax laws to benefit working families.
>> In essence, isn't it true that what you did here is take these companies, put them offshore, so you could help your clients, who you were making money from avoid US taxation?>> No, that's not true at all.>> Despite the rough ride Republicans who control the levers of congress coming mainly to Mnuchin's defense keeping it likely Mnuchin, like most of Trump's other nominees will stay in good position to win confirmation.