Steven Mnuchin, Trump’s Treasury Secretary Pick, Says He Will Divest Film Holdings if Confirmed

Steven Mnuchin
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Steven Mnuchin, President-elect Donald Trump’s nominee to be the next Secretary of the Treasury, said that he will divest his stakes in a number of businesses, including movies he has made for Warner Bros.

In a letter to an ethics official at the U.S. Treasury, Mnuchin said that he would divest his interests in Ratpac Dune Entertainment Holdings within 120 days of his confirmation.

“With regard to those interests, I will not participate personally and substantially in any particular matter that to my knowledge has a direct and predictable effect on the financial interests of the entity until I have divested it,” he wrote, adding that the exception would be if he obtained a written waiver or qualified for a regulatory exemption.

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Mnuchin also said that he would divest his interests in a number of other entities within 90 days, including Dune Entertainment Partners and Dune Capital Management.

Mnuchin has been a financier for a slew of movies, many at Warner Bros., including “Suicide Squad,” “Mad Max: Fury Road,” and “Batman Vs. Superman: Dawn of Justice.” He also filed a financial disclosure form that outlined his extensive investments.

He also said that he will sell his investments in CIT Group, which bought OneWest Bank from him and other financiers in 2015. He resigned from his position as vice chairman and director of CIT Group last year.

Mnuchin said that he would retain his position as the president of Steven Mnuchin Inc., which he said that he used to manage some of his investments.

He also wrote that he would ensure that the proceeds from the sale of his assets are invested in non-conflicting entities.

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  1. Stop Hypocrisy says:

    It is important to note that the unprincipled, hypocritical comments about Goldman-Sachs and the moral decay of “Hollyweird” when spoken by Trump supporters seem to ignore that Mnuchin was not only a big wheel in Goldman-Sachs, but that he was a producer on some movies that display “fine, upstanding, moral Christian values” — like Suicide Squad and especially Entourage. I have no “moral” problems with those films — we should all have a problem with hypocrites who practice lying double standards.

  2. Golden Ticket Taker says:

    All a small price to pay now for the priceless markers he will be collecting for the next couple of years.

  3. Jaddy Baddy says:

    ( ) 100 days before Trump is impeached and removed from
    office.

    ( ) 200 days before Trump is impeached and removed from
    office.

    ( ) 300 days before Trump is impeached and removed from
    office.

    Scalia has been dead a year, so why the sudden rush to
    nominate his replacement?

    Trump Needs his Supreme Court nominee confirmed and on
    the job to block Trump’s impeachment and removal from
    office.

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