Free Republic

Harriet Tubman, the sword-wielding, gun-toting spy and freedom fighter who led dozens of slaves to freedom in the north after escaping from slavery herself is set to become the first black woman to be featured on American currency—specifically, the $20 bill. According to a new report from TIME, however, the impending inauguration of President-elect Donald Trump and the administrative changes that will come along with it have some within the Department of the Treasury concerned about the future of the new legal tender.

WASHINGTON—Donald Trump’s choice for Treasury secretary said Wednesday that he would focus on rolling back parts of the landmark 2010 Dodd-Frank financial overhaul law enacted in the wake of the financial crisis. “The number one problem with Dodd-Frank is that it’s way too complicated and cuts back lending,” banker Steven Mnuchin told CNBC in his first public comments since being tapped by the president-elect to head his economic team. “So we want to strip back parts of Dodd-Frank and that will be the number one priority on the regulatory side,” Mr. Mnuchin said, according to a rush transcript of the...

His comments sent shares of Fannie and Freddie to their highest levels since September 2014. U.S. President-elect Trump’s nominee for Treasury Secretary, Steven Mnuchin, on Wednesday waded into the long-running battle over the future control of Fannie Mae and Freddie Mac, the largest players in the U.S. home mortgage market, saying that the lenders should be returned to private control.

Steven Terner Mnuchin, a financier with deep roots on Wall Street and in Hollywood but no government experience, is expected to be named Donald J. Trump’s Treasury secretary as soon as Wednesday, sources close to the transition say. Mr. Mnuchin, 53, was the national finance chairman for Mr. Trump’s campaign. He began his career at Goldman Sachs, where he became a partner, before creating his own hedge fund, moving to the West Coast and entering the first rank of movie financiers by bankrolling hits like the “X-Men” franchise and “Avatar.” As Treasury secretary, Mr. Mnuchin would play an important role...

In an oddly ironic twist, today Donald Trump announced that he has picked as chairman of his newly launched fundraising operation none other than a former employee of the bank he has repeatedly criticized in the past, and which he used as a foil to criticize Ted Cruz: Goldman Sachs. Trump announced that heading up his own personal fundraising operation as national finance chairman will be Steven Mnuchin, a long-time business associate, chairman and CEO of the hedge fund Dune Capital. More importantly, however, he spent 17 years at Goldman Sachs where he was most recently a Partner, having built...

<p>Billionaires George Soros and Michael Dell have been dragged into a nasty lawsuit against former NBA great Magic Johnson over his prepaid credit card, the Magic Card.</p> <p>The moguls are principals of OneWest Bank, which entrepreneur Reed Wallace is accusing, along with the former NBA great Johnson, of stealing his concept for a Magic-backed credit card.</p>

John Paulson and George Soros Score Big Selling OneWest Bank For $3.4 Billion Comment Now Follow Comments A gang made up of some of Wall Street’s biggest names and formed by former Goldman Sachs partner Steve Mnuchin is set to realize a big score from the sale of OneWest Bank to CIT Group CIT +11.19% for $3.4 billion. Hedge fund billionaires John Paulson and George Soros were part of the group that together with buyout baron Christopher Flowers and billionaire Michael Dell bought the assets in 2009 of the former IndyMac, one of the nation’s largest bank failures ever, from...