Way to go, Steve. Four months after his confirmation, according to Bloomberg, Treasury Secretary Steven Mnuchin finally sold off his stake in a Hollywood financing company dubbed RatPac-Dune. From a non-partisan and good-government standpoint, that’s a solid and honest move.
While Mnuchin didn’t name a buyer or disclose a sale price, divesting couldn’t have been easy. His stake in the company was reportedly worth as much as a cool $25 million. More than fiscal, walking away entailed significant professional cost because Mnuchin was pretty good at the movies.
Before keeping the books and soliciting donations for President Trump on the campaign trail, Mnuchin was backing Hollywood blockbusters. Without his financing, audiences might not have seen Academy Award-winning blue aliens or a critically-acclaimed “Goddess of Love and War” on the silver screen.
Altogether, Mnuchin has racked up something like 42 executive producer credits. He even has a non-speaking role in the comedy-drama-romance, Rules Don’t Apply, as a Merrill Lynch executive. With a 34 percent score on Rotten Tomatoes, that film is worth skipping. But Mnuchin’s decision to divest is a notable development in the political theater at the White House.
From the beaches of Mar-a-Lago to the corner office of Trump Hotel, conflicts of interest abound. The president has notably declined to divest his business holding, turning the empire over to his two boys who reportedly give their father regular business updates.
By comparison, Mnuchin looks like the picture of good government. Of course, there have been hiccups, some bigger than others. One time, he told a crowd of people to “send your kids to Lego Batman,” a film he helped produced. Another time, he may have failed to disclose something like $100 million in assets.
But Mnuchin promised he’d divest and Mnuchin followed through. Good on him.
Philip Wegmann is a commentary writer for the Washington Examiner.
