Mnuchin to Recommend Selling $700m Loan to Successor

The United States Treasury Secretary, Steven Mnuchin, said on Thursday that he will recommend to the next administration to consider selling the $700 million emergency government loan to YRC Worldwide at a profit.

“We’ve been fortunate that the economy recovered, and that the equity is doing well and I am going to recommend that next year, whoever is Treasury secretary seriously look at selling this loan and recovering what I think will be a profit to taxpayers because this was a success,” Mnuchin was quoted by Reuters as saying.