Sen. Menendez: Not Happy With Mnuchin Answers on OneWest

The transcript discusses the motivations behind offshore corporations, particularly in the Cayman Islands, as a means to avoid US taxes. It critiques Steven Mnuchin's role in foreclosures during his time at OneWest Bank and raises concerns about his approach to tax reform, which is seen as favoring the wealthy and increasing the national deficit. The discussion also touches on the potential repeal of Dodd-Frank regulations, emphasizing the need to avoid past financial crises where profits were privatized and costs socialized.

What is the perceived impact of the proposed tax cuts on different income groups?

What does the speaker suggest about the relationship between profits and costs in the financial system?