Mnuchin, Ross confirm nominations for Treasury, Commerce

BY KYLE BALLUCK - 11/30/16 07:27 AM EST 211

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Steven Mnuchin and Wilbur Ross early Wednesday confirmed that President-elect Donald Trump has selected them to lead the Treasury and Commerce departments, respectively.

Mnuchin and Ross spoke on CNBC's "Squawk Box." 

Mnuchin, who served as the national finance chairman of Trump's campaign, told CNBC that tax reform will help drive economic growth at a sustained rate of 3 to 4 percent.

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He has never worked in government and has close ties to Hollywood and Wall Street. The former partner at Goldman Sachs founded the hedge fund Dune Capital Management and invested in the movie business.

Jessica Mackler, president of the liberal super PAC American Bridge, blasted the pick after initial reports late Tuesday, saying Trump "cheered on the housing crisis" and profited from "people's misery and foreclosures."

"Of course he'd want Steve Mnuchin, who's company made $3 billion off the housing crisis and was responsible for more than a third of all reverse mortgage foreclosures, to be his Treasury Secretary," Mackler said in the statement. "Putting a Wall Street CEO in charge of his Administration's oversight of Wall Street is dangerous and even more proof that Donald Trump is only interested in protecting corporations at the expense of working families."

Ross is chairman and chief strategist of private equity firm W.L. Ross & Co. He made his wealth by buying and restructuring companies within the manufacturing and steel industries.

Ross, a former banker, has invested in various industrial businesses throughout his career. He formed International Coal Group, which owned a West Virginia mine that exploded in 2006, killing 12 miners.

Trump ran his presidential campaign with promises to rebuild industries like coal and steel. The president-elect has promised to overturn or renegotiate trade deals he says have taken manufacturing jobs overseas.

Ross served as an economic adviser to Trump during his campaign for the presidency.

According to his Forbes profile, Ross is worth $2.9 billion.

Mallory Shelbourne contributed to this report, which was last updated at 8:01 a.m.

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Jill Stein files for recount in Michigan

BY REBECCA SAVRANSKY - 11/30/16 02:42 PM EST 422

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© Greg Nash

Green Party nominee Jill Stein has officially filed a request for a presidential recount in Michigan.

“The people of Michigan and all Americans deserve a voting system we can trust,” Stein said in a statement on Wednesday. 

“After a presidential election tarnished by the use of outdated and unreliable machines and accusations of irregularities, people of all political persuasions are asking if our election results are reliable."

 

Stein said in the statement the recounts are necessary to build trust in the country's election system.

 

"We need to verify the vote in this and every election," she said, "so that Americans can be sure we have a fair, secure and accurate voting system.”

 

President-elect Donald Trump on Monday was named the winner in Michigan, the last state to be awarded in the election. He won the state by 10,704 votes.

 

The recount in Michigan is expected to begin Friday, according to the Stein campaign.

 

Ronna Romney McDaniel, chairwoman of the Michigan Republican Party, criticized the recount efforts, according to the Detroit Free Press.

“The filing by Jill Stein is a reckless attempt to undermine the will of Michigan voters," she said. "Jill Stein made her 1% temper tantrum official and will waste millions of Michigan taxpayers’ dollars, and has acknowledged that the recount will not change anything regarding the Presidential election."

Stein's campaign has also filed for recounts in Wisconsin and Pennsylvania. The president-elect has won all three states, which had gone blue in recent elections prior to this year.

 

Read more from The Hill:

 

What Stein is getting from the recount

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