Mnuchin: I Want to Correct My IndyMac Record

The speaker addresses misconceptions about their role as Treasury Secretary during the 2008 financial crisis. They recount witnessing the housing crisis's impact and their efforts to save Indy Mac Bank by acquiring it through a higher bid to the FDIC. The speaker clarifies that their group did not create the risky loans but assumed them from previous management. They invested $1.6 billion, rebranded the bank as One West Bank, and contributed to job preservation and community banking in Southern California.

What was the speaker accused of when first nominated as Treasury Secretary?

• Supporting risky loans

• Ignoring the financial crisis

• Mismanaging government funds

• Taking advantage of others' hardships for profit

What significant action did the speaker take to save Indy Mac Bank?

• Merged with another bank

• Applied for a government bailout

• Closed down the bank

• Submitted a bid to the FDIC

How much did the speaker's group invest in Indy Mac Bank?

• $500 million

• $1.6 billion

• $2 billion

• $1 billion

What was the new name given to Indy Mac Bank after its transformation?

• Southern Bank

• New Indy Bank

• One West Bank

• West Coast Bank

What was one of the outcomes of transforming Indy Mac into One West Bank?

• Creation of a successful banking franchise

• Bank closure

• Job losses

• Increased risky loans