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Kid Berwyn

(14,642 posts)
24. Exactly.
Thu Jan 23, 2020, 09:30 PM
Jan 2020

WSJ:

On a muggy morning in July 2008, hundreds of customers stood outside IndyMac Bank branches in Southern California, trying to pull their savings from the lender, which was doomed by losses on risky mortgages.

Steven Mnuchin didn’t know much about IndyMac as he watched the scenes on CNBC from his Midtown Manhattan office. But he immediately saw an opportunity and began figuring out how to buy the bank.

Regulators seized IndyMac, foreshadowing a vicious banking crisis. Six months later, Mr. Mnuchin and his investment partners acquired IndyMac with a helping hand from the U.S. government. The deal eventually earned him hundreds of millions of dollars in personal profits.

Continues...

https://www.wsj.com/articles/steven-mnuchins-defining-moment-seizing-opportunity-from-the-financial-crisis-1480547063

If anyone needs to take an econ class it is Mnuchin. redstatebluegirl Jan 2020 #1
Munchkin could teach a con class. lagomorph777 Jan 2020 #7
$1T in debt a year rurallib Jan 2020 #27
Pot, Kettle, Black... nt. BlueIdaho Jan 2020 #2
They dont care if their grand-kids die , I guess...wow, imagine 40 million Americans Eliot Rosewater Jan 2020 #3
By the time Greta goes to college cyclonefence Jan 2020 #4
I believe that will be next year, so there might still be some left. The Velveteen Ocelot Jan 2020 #5
Mnuchin is threatened by the young girl ArizonaLib Jan 2020 #6
Mnuchin and the admin need to study climate change. truthisfreedom Jan 2020 #8
What good are economics in a dead world? Monsieur_Grumpe Jan 2020 #9
No, Munchkin. Money laundering, vulture deals, and fraud aren't "econonomics" sandensea Jan 2020 #10
Exactly. Kid Berwyn Jan 2020 #24
Coincidentley, so does Mnuchin. marble falls Jan 2020 #11
Maybe Greta understands the concept of a Baitball Blogger Jan 2020 #12
They always attack her for her youth, since they can't argue with what she's saying. nt SunSeeker Jan 2020 #13
Being a great ship designer didn't help Thomas Andrews! Sancho Jan 2020 #14
Science doesn't accommodate economics. Sucha NastyWoman Jan 2020 #15
Good Point! Newest Reality Jan 2020 #26
wow, that's sickening but it shows this administration's priorities LymphocyteLover Jan 2020 #16
I think Mnuchin needs to study economics. Sloumeau Jan 2020 #17
Greta knows more about economics than Mnuchin knows about science. n/t SpankMe Jan 2020 #18
I'm going to take econ lectures from a Goldman Sachs executive. Right. Initech Jan 2020 #19
Message auto-removed Name removed Jan 2020 #20
When you can't explain who pays for tariffs... Bradical79 Jan 2020 #21
She needs to learn about economics? Aussie105 Jan 2020 #22
Way to go, turd's official fart sniffer... let's keep the youngsters involved... not_the_one Jan 2020 #23
Anyone with a sense of fairness Buzz cook Jan 2020 #25
Maybe you'll save some money now through cutting regulations and ignoring badhair77 Jan 2020 #28
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