Steven T. Mnuchin, President-elect Donald J. Trump’s pick to head the Treasury Department, came under withering fire on Thursday for foreclosing on homes in California, managing an offshore investment account and initially failing to disclose almost $100 million in assets.

During five hours of contentious questioning, Democrats on the Senate Finance Committee pressed Mr. Mnuchin to explain how he could fail to disclose $95 million of real estate assets, including property in New York, Los Angeles and Mexico, on his initial committee ethics questionnaire. The former Goldman Sachs banker also did not initially disclose that he is the director of Dune Capital International, an investment fund incorporated on the Cayman Islands, an offshore tax haven. And he belatedly disclosed that his children own nearly $1 million in artwork.

The New York Times

“The Treasury secretary ought to be somebody who works on behalf of all Americans, including those who are still waiting for the economic recovery to show up in their communities,” said Senator Ron Wyden, the ranking Democrat on the committee. “When I look at Mr. Mnuchin’s background, it’s a stretch to find evidence he’d be that kind of Treasury secretary.”

The New York Times