Home / General / Tales From Donald Trump’s War On the Neoliberal Elite

Tales From Donald Trump’s War On the Neoliberal Elite

/
/
/
1969 Views

I, for one, would be shocked if Steve Mnuchin helped his former roomie’s bust-out of Sears:

In a letter addressed to Mnuchin—helpfully accompanied by an explainer video—the congresswomen write that they are “deeply concerned by the financial engineering and potentially illegal activity” that took place at Sears while Mnuchin was a board member, and which led to tens of thousands of jobs being lost. Last month, Mnuchin was named in a lawsuit filed by Sears’ holding company accusing its former chairman, hedge-fund manager Eddie Lampert, of a “multiyear and multifaceted scheme” to siphon more than $2 billion from the company’s coffers to himself, his hedge fund E.S.L. Investments, and other insiders. Mnuchin, along with other former board members, is accused of approving deals that the suit argues ultimately benefited Lampert, whom the secretary roomed with at Yale, worked alongside at Goldman Sachs, and who Lampert named a vice chairman of his fund—in which Mnuchin was an investor—from 2002 to 2003. Warren and A.O.C. quote the suit’s claim that Lampert, Mnuchin, and the other defendants had zero plan to return the company to profitability after “cannibalizing [its] core assets,” that they “breached their fiduciary duties by engaging in . . . self-dealing,” and that “had Defendants not taken these improper and illegal actions, Sears would have had billions of dollars more to pay its third-party creditors today and would not have endured the amount of disruption, expense, and job losses resulting from its recent bankruptcy filing.”

It’s a fuckin’ shame.

  • Facebook
  • Twitter
  • Linkedin
This div height required for enabling the sticky sidebar
Ad Clicks : Ad Views : Ad Clicks : Ad Views : Ad Clicks : Ad Views : Ad Clicks : Ad Views : Ad Clicks : Ad Views : Ad Clicks : Ad Views : Ad Clicks : Ad Views : Ad Clicks : Ad Views : Ad Clicks : Ad Views : Ad Clicks : Ad Views : Ad Clicks : Ad Views : Ad Clicks : Ad Views : Ad Clicks : Ad Views : Ad Clicks : Ad Views : Ad Clicks : Ad Views : Ad Clicks : Ad Views :