Washington, D.C. – Democratic Leader Nancy Pelosi released the following statement this week after it was reported that Steven Mnuchin will be nominated to serve as the next Secretary of the Treasury:
“President-elect Donald Trump is giving Republicans and their special interest friends an early Christmas gift by tapping a former Wall Street executive to lead the U.S. Treasury Department. The Treasury Secretary is responsible for assessing risk in our financial system and protecting consumers against some of the worst excesses of the largest Wall Street Banks as chair of the interagency body established by the Dodd-Frank Act. By selecting a Wall Street banker who profited from the financial crisis to serve as America’s chief tax regulator and main overseer of our financial system, President-elect Trump is handing over the keys to the same players who drove our economy into a ditch.
“The American people, especially families hit hard by the housing crisis, deserve better than a big banker who led a financial institution pushing aggressive foreclosure schemes, particularly against seniors. Hard-working American families deserve a Treasury Secretary who will place their interests above those of Wall Street.
“House Democrats will fight relentlessly against the GOP’s efforts to drag our nation back to the tired, trickle-down economics that created the worst financial catastrophe since the Great Depression. We must have an economy that works for all Americans, not just the privileged few.”