Trump's hedge fund treasury secretary pick failed to disclose nearly $100m in assets - Polidicks

[quote]Steven Mnuchin, the hedge fund millionaire Donald Trump has picked to run the US treasury, failed to disclose nearly $100m in assets to Congress, including his role as a director of offshore funds and close to $1m in art owned by his children. The error was disclosed hours before Mnuchin was grilled by the Senate finance committee on Thursday over his role at a California bank that foreclosed on thousands of vulnerable borrowers, his attitude to tax havens and the future regulation of the US financial system. [B]On Wednesday night the committee learned Mnuchin had initially failed to disclose he was a director of Dune Capital International, an investment fund incorporated in the Cayman Islands, a tax haven. He also omitted other assets, including $95m in real estate and $906,556 worth of artwork held by his children.[/B] “Mr. Mnuchin has claimed these omissions were due to a misunderstanding of the questionnaire – he does not consider these assets to be ‘investment assets’ and thus did not disclose them, even though the committee directs the nominee to list all real estate assets,” according to documents filed with the committee. Mnuchin was questioned by the Democratic senator Bob Menendez who asked how he had failed to disclose the assets when he signed a statement listing his holdings on 19 December. “I have a ton of other questions on policy but first and foremost is truth and veracity, what Americans need in their treasury secretary” said Menedez. “In essence isn’t it true that what you did here is take these companies, put them offshore so you could help your clients, who you were making money from, to avoid US taxation.” Mnuchin said that was “not true at all”.[/quote] [url]https://www.theguardian.com/us-news/2017/jan/19/steven-mnuchin-financial-disclosure-confirmation-treasury[/url]

Way to go, fucko.

Doi. Even people at the top fuck up their paperwork, it seems.

[QUOTE=Chonch;51707141]Doi. Even people at the top fuck up their paperwork, it seems.[/QUOTE] You don't fuck up the paperwork to the extent of forgetting to declare several potential conflicts of interests, and if you do you probably shouldn't be in charge of the fucking US Treasury.

[QUOTE=Chonch;51707141]Doi. Even people at the top fuck up their paperwork, it seems.[/QUOTE] Don't even try to spin this.

[QUOTE=Chonch;51707141]Doi. Even people at the top fuck up their paperwork, it seems.[/QUOTE] "haha oops i just accidentally forgot i ran a tax haven company in the cayman islands and also have a tenth of a billion dollars in real estate, my b lol, whoopsie"

[QUOTE=Headhumpy;51707162]You don't fuck up the paperwork to the extent of forgetting to declare several potential conflicts of interests, and if you do you probably shouldn't be in charge of the fucking US Treasury.[/QUOTE] [QUOTE=ROFLBURGER;51707170]Don't even try to spin this.[/QUOTE] [QUOTE=.Isak.;51707174]"haha oops i just accidentally forgot i ran a tax haven company in the cayman islands and also have a tenth of a billion dollars in real estate, my b lol, whoopsie"[/QUOTE] What's the alternative? Do you think Mnuchin was trying to pull a fast one [I]on the Finance Committee?[/I] I can find out about Dune by searching on Google. Surely he knows Congress has access to at least that kind of info. [editline]d[/editline] [QUOTE]Mr. Mnuchin has claimed these omissions were due to a misunderstanding of the questionnaire – he does not consider these assets to be ‘investment assets’ and thus did not disclose them[/QUOTE] I mean it says right there he didn't understand what the form was asking for at first. He's even corrected it now. Does there have to be a story behind this?

[QUOTE=Chonch;51707175]What's the alternative? Do you think Mnuchin was trying to pull a fast one [I]on the Finance Committee?[/I] I can find out about Dune by searching on Google. Surely he knows Congress has access to at least that kind of info.[/QUOTE] I really think he was trying to pull a fast one on the finance committee dude's got brass balls, just look what he was up to in 09

Examples of Steve Mnuchin being shady, presented by Samantha Bee [url]https://youtu.be/8okdzcz7PTM?t=77[/url]

[QUOTE=Chonch;51707175]I mean it says right there he didn't understand what the form was asking for at first. He's even corrected it now. Does there have to be a story behind this?[/QUOTE] Nice job omitting the part where it explicitly states to include real estate assets. [quote] even though the committee directs the nominee to list all real estate assets,” according to documents filed with the committee.[/quote]

[QUOTE=Anderan;51707206]Nice job omitting the part where it explicitly states to include real estate assets.[/QUOTE] It's in the OP, for Pete's sake. I wasn't going to put things that weren't relevant to the post if you could just scroll up to read them. It doesn't make any sense to me for this to be anything other than a mistake. You don't just outright lie to Congress unless you've got the political resources to affirm the lie--Steve Mnuchin is not some world-class 40-year career politician, there's no way would be able to cover this up. I know it's an anecdote and hardly relevant, but I deal with financial disclosures like this all the time in my workplace. Shit gets overlooked [I]constantly.[/I] We're all lucky the Congress has the power to audit these things before it becomes a problem.

[QUOTE=Chonch;51707141]Doi. Even people at the top fuck up their paperwork, it seems.[/QUOTE] Yeah, just a mistake! Just a teensy, tiny little mistake! It's okay! It's only a 100 million misdeclared! It's not like for a regular person to misdeclare by a few hundred thousand, it's a crime, and not just a mistake! God damn dude, cmon.

[QUOTE=Chonch;51707175]What's the alternative? Do you think Mnuchin was trying to pull a fast one [I]on the Finance Committee?[/I] I can find out about Dune by searching on Google. Surely he knows Congress has access to at least that kind of info. [editline]d[/editline] I mean it says right there he didn't understand what the form was asking for at first. He's even corrected it now. Does there have to be a story behind this?[/QUOTE] Someone like him does not "misunderstand" a question on a form. He falsified a document.

[QUOTE=Chonch;51707284]It's in the OP, for Pete's sake. I wasn't going to put things that weren't relevant to the post if you could just scroll up to read them. It doesn't make any sense to me for this to be anything other than a mistake. You don't just outright lie to Congress unless you've got the political resources to affirm the lie--Steve Mnuchin is not some world-class 40-year career politician, there's no way would be able to cover this up. I know it's an anecdote and hardly relevant, but I deal with financial disclosures like this all the time in my workplace. Shit gets overlooked [I]constantly.[/I] We're all lucky the Congress has the power to audit these things before it becomes a problem.[/QUOTE] I really can't believe a 100 million in assets can be "forgotten" or "overlooked" dude. I really can't believe for any situation this would be okay, let alone in a high security, and high powered political position. It's just... How are you even remotely managing to process this as minor?

Even if it's a mistake it's a fucking monumental one which does not warrant the position he's in.

[QUOTE=Chonch;51707284]It's in the OP, for Pete's sake. I wasn't going to put things that weren't relevant to the post if you could just scroll up to read them. It doesn't make any sense to me for this to be anything other than a mistake. You don't just outright lie to Congress unless you've got the political resources to affirm the lie--Steve Mnuchin is not some world-class 40-year career politician, there's no way would be able to cover this up. I know it's an anecdote and hardly relevant, but I deal with financial disclosures like this all the time in my workplace. Shit gets overlooked [I]constantly.[/I] We're all lucky the Congress has the power to audit these things before it becomes a problem.[/QUOTE] It's entirely relevant to the post, you're claiming he just misunderstood it despite the paperwork explicitly stating it. There's hardly any room for just simply misunderstanding it. He's a non-politician, it's not really that hard to assume maybe he thought he could get away with something nobody with experience would ever have tried in the first place.

[QUOTE=HumanAbyss;51707316]It's just... How are you even remotely managing to process this as minor?[/QUOTE] He was made aware of the error and corrected it. It doesn't look like there are going to be any legal repercussions as a result of this. I'll take whatever's coming to me if I turn out dead wrong, but as of now this is gonna turn out about as important as a typo on the document.

[QUOTE=Chonch;51707141]Doi. Even people at the top fuck up their paperwork, it seems.[/QUOTE] Yeah, opsies accidentally forgot to list about $100M on my super important documents for being US treasury secretary, haha only about 20% of my estimated net worth haha, happens to everyone right guys? haha The implication of it being a "misunderstanding" is even worse tbh, because that implies that he's basically incapable for the position seeing as he can't be bothered to properly fill out a regulation form. Imagine filing your taxes and just accidentally omitting 20% of your taxable income for the year. I'm sure the IRS will be so forgiving with that one.

[QUOTE=Chonch;51707348]He was made aware of the error and corrected it. It doesn't look like there are going to be any legal repercussions as a result of this. I'll take whatever's coming to me if I turn out dead wrong, but as of now this is gonna turn out about as important as a typo on the document.[/QUOTE] you're like the political equivalent of a gambling addict. you lose, lose, lose every time and keep telling yourself "that was just a fluke, that was just a mistake, things are gonna look up soon!". when in reality you're gonna be in an allyway soon if you don't wake up and realize that every single person trump's surrounded himself with are human rats in this for their own personal gain.

[QUOTE=Chonch;51707348]He was made aware of the error and corrected it. It doesn't look like there are going to be any legal repercussions as a result of this. I'll take whatever's coming to me if I turn out dead wrong, but as of now this is gonna turn out about as important as a typo on the document.[/QUOTE] Shocking development: Person caught falsely filing forms corrects forms when caught by federal government. Who would have thought.

i'm sure if i ~accidentally~ fail to disclose 100 million to the IRS they'd give me a pat on the back and a lollipop and send me on my way, happily knowing i totes mcgotes didn't try to sneak assets under the governments nose imagine someone hiding their taxes and finances from the government on purpose! why, that sort of person should never be allowed in political office!

[QUOTE=Chonch;51707175]I mean it says right there he didn't understand what the form was asking for at first. He's even corrected it now. [B]Does there have to be a story behind this?[/B][/QUOTE] If he was applying for a job at Wendy's, no. He's about to become the [B]US Secretary of the Treasury[/B] and he "accidentally" forgot to disclose [B]$96 million dollars in assets and his directorship in an offshore corporation in a tax haven.[/B] Does this seem right to you? Actually think about it before replying. [URL="https://en.wikipedia.org/wiki/United_States_Secretary_of_the_Treasury"]Let me remind you that the Sec. of the Treasury's primary responsibility is the ongoing financial and economic policies and overall economic health of the United States of America.[/URL] [QUOTE=Wikipedia]The Secretary is responsible for formulating and recommending domestic and international financial, economic, and tax policy, participating in the formulation of broad fiscal policies that have general significance for the economy, and managing the public debt. [/QUOTE] Let's put a guy who "misunderstood" a form and "accidentally" forgot to declare almost a hundred million in real estate assets and "accidentally" forgot to disclose his director position in a tax shelter corporation [B]in charge of national tax policy[/B]. [highlight]What could possibly go wrong??[/highlight] Funny how the swamp's water level is going [I]up[/I] while it's being drained.

[QUOTE=Chonch;51707141]Doi. Even people at the top fuck up their paperwork, it seems.[/QUOTE] I find ridiculous the assumption that a person as wealthy as him doesn't have a team of lawyers and accountants to check his papers and prepare him for hearings because these things sort of matter. Much more likely it is a case of his team spotting an ambiguity, making a shot for trying to avoid declaring and why not, because [B]it's not like there are any repercussions anyway.[/B] Usually I don't assume malice where stupidity is a sufficient explanation, and here it just isn't.