During some of the darkest days of the financial crisis in 2008, Steven Mnuchin spied opportunity.
IndyMac, a California bank, had been seized by federal regulators after collapsing under the weight of bad loans. In November, Mr. Mnuchin gathered a group of investors, including former colleagues from Goldman Sachs Group Inc., to buy the troubled lender from the government for $1.5-billion (U.S.). He renamed it OneWest and in 2014, he struck a deal to sell it for $3.4-billion.
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