Trump's Pick for Treasury

On a muggy morning in July 2008, hundreds of customers stood outside IndyMac Bank branches in Southern California, trying to pull their savings from the lender, which was doomed by losses on risky mortgages.

Steven Mnuchin didn’t know much about IndyMac as he watched the scenes on CNBC from his Midtown Manhattan office. But he immediately saw an opportunity and began figuring out how to buy the bank.

[...]

Mnuchin and his investment partners acquired IndyMac with a helping hand from the U.S. government. The deal eventually earned him hundreds of millions of dollars in personal profits.

[...]

At the end of 2008, Mr. Mnuchin persuaded the FDIC to sell IndyMac for about $1.5 billion. The deal included IndyMac branches, deposits and assets. The FDIC also agreed to protect the buyers from the most severe losses for years.

  WSJ

In Trump's words: that makes him smart.

Mnuchin left CIT amid a management shake-up announced last year, receiving a $10.9 million severance payment. His exit came just as Mr. Trump’s bid for the Republican nomination was gaining momentum. “The timing worked out well,” Mr. Mnuchin told The Wall Street Journal earlier this year.

[...]

He also was part of a group that lent money to Mr. Trump for a Chicago condominium project.

And it's payback time.

Mr. Mnuchin said the new administration’s goal would be to achieve annual economic growth of 3% to 4%. He said his top policy priorities would be to overhaul the federal tax code, roll back certain financial regulations, review trade agreements and invest in infrastructure.

[...]

He said Mr. Trump won’t hesitate to call up corporate chiefs to lean on them about jobs, factory closures and other matters.

Sure, and just like the recent Carrier deal, he'll make sure they have compensation funded by tax payers.

...but hey, do what you want...you will anyway.