Trump’s Treasury pick leaves Sears board: report

Trump’s Treasury pick leaves Sears board: report
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President-elect Donald TrumpDonald John TrumpTrump passes Pence a dangerous buck Overnight Health Care — Presented by American Health Care Association — Trump taps Pence to lead coronavirus response | Trump accuses Pelosi of trying to create panic | CDC confirms case of 'unknown' origin | Schumer wants .5 billion in emergency funds Trump nods at reputation as germaphobe during coronavirus briefing: 'I try to bail out as much as possible' after sneezes MORE’s choice for Treasury secretary is stepping down from the board at Sears, according to a new report.

Steve Mnuchin, 53, has been on the Sears Holding Corp. board for more than 11 years.

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The Associated Press said Friday Mnuchin, who served as national finance chairman for Trump’s campaign, roomed with Sears Chairman and CEO Eddie Lampert at Yale University in New Haven, Conn. Sears, which is based in Hoffman Estates, Ill., added Mnuchin’s departure reduces the size of its board to nine members.

Mnuchin confirmed early Wednesday Trump has chosen him to lead the Department of Treasury. The former Goldman Sachs partner lacks past political experience but has extensive ties to Hollywood and Wall Street instead.

Mnuchin worked at Goldman Sachs for 17 years before founding the investment firm Dune Capital Management in 2004 and OneWest Bank Group LLC in 2009. The financier has also left his mark on the entertainment industry, having helped bankroll movies like “Batman v. Superman” and “Suicide Squad.”

Trump has set an ambitious economic agenda for Mnuchin and potential Commerce Secretary Wilbur Ross if both men are confirmed.

The president-elect wants tax code reform, infrastructure investments, renegotiated trade deals and eased financial regulations upon entering office.

Trump repeatedly campaigned on upending establishment politics, promising to “drain the swamp” of entrenched lawmakers and their wealthy special interests.

Democrats have pounced on Mnuchin, however, arguing he embodies the very Wall Street insiders Trump derided.

Sens. Bernie SandersBernie SandersDNC warns campaigns about cybersecurity after attempted scam Overnight Health Care — Presented by American Health Care Association — Trump taps Pence to lead coronavirus response | Trump accuses Pelosi of trying to create panic | CDC confirms case of 'unknown' origin | Schumer wants .5 billion in emergency funds Biden looks to shore up lead in S.C. MORE (I-Vt.) and Elizabeth WarrenElizabeth Ann WarrenBiden looks to shore up lead in S.C. Hillicon Valley: Dems cancel surveillance vote after pushback to amendments | Facebook to ban certain coronavirus ads | Lawmakers grill online ticketing execs | Hacker accessed facial recognition company's database Push for national popular vote movement gets boost from conservatives MORE (D-Mass.) on Wednesday released a rare joint statement hammering Mnuchin.

“This pick makes clear that Donald Trump wants to cater to the same Wall Street executives that have hurt working families time and again,” they said.