Trump’s Treasury pick boosted an investment with TV talk FILE – In this Dec. 12, 2016 file photo, Treasury Secretary-designate Steven Mnuchin arrives in Trump Tower in New York. President-elect Donald Trump’s wealthy Treasury appointee, Mnuchin, says in new government ethics filings he will sell more than $100 million in assets upon taking office. But comments he made in a November television interview may already have boosted the value of one of them. (AP Photo/Richard Drew, File) WASHINGTON – President-elect Donald Trump’s choice to become Treasury secretary, Steven Mnuchin, will sell 43 assets to avoid conflicts of interest in office, according to new filings made public Wednesday by the U.S. Office of Government Ethics. Statements Mnuchin made in a November television interview may already have boosted the value of one of them.Mnuchin, an investment banker and financier with a disclosed net worth of at least $166 million, holds investments of between $1 million and $2 million in the Paulson Advantage Fund, a hedge fund managed by fellow Trump supporter John Paulson. Among the fund’s most prominent bets is the common stock of Fannie Mae and Freddie Mac, government-backed housing guarantors that were effectively nationalized as part of a $187 billion bailout during the financial crisis. Speculators such as Paulson have bet heavily that the mortgage giants will be reprivatized.Mnuchin’s exposure to the companies is small in the broader context of his net worth. But Mnuchin — who as Treasury secretary would play a large role in any such privatization process — sparked a rally in the stocks’ price when he told Fox Business News on Nov. 30 that privatizing the companies would be a priority for the Trump administration.“It’s right up there in the top 10 list of things we’re going to get done,” he said.The companies’ respective stock prices rose more than 40 per cent each that day. A Bloomberg article credited the companies’ stocks for a 9 per cent monthly gain in the value of Paulson’s holdings.The Associated Press asked Mnuchin spokesman Barney Keller whether Mnuchin had anticipated the effect of his comments on Fannie and Freddie stock. In response, Keller sent a link to Mnuchin’s ethics agreement outlining his intended divestitures.Mnuchin pledged to sell a lengthy list of assets, including Paulson’s fund, within 90 days. He also submitted a declaration that he will not participate in any matter that would have “a direct and predictable effect” on the value of his holdings.Aside from the Paulson funds, Mnuchin’s holdings reflect his time in investment banking, the entertainment business and private equity. His single largest holding — worth at least $50 million — is stock in CIT Group, which bought out OneWest Bank, a company he once led. Other investments include between $25 million and $50 million in a Goldman Sachs Treasury bond fund, an agreement with Warner Bros. worth at least $1 million and a stake in a Willem de Kooning oil painting worth between $5 million and $25 million.Despite Mnuchin’s substantial fortune, he would be neither the richest Treasury secretary in recent history nor the wealthiest member of Trump’s Cabinet. George W. Bush’s choice, former Goldman Sachs chief executive Hank Paulson, sold more than $500 million in Goldman stock following his confirmation. Trump’s choices for the Education and Commerce departments, Betsy DeVos and Wilbur Ross, are each worth billions.___Associated Press writer Chad Day contributed to this report. by Jeff Horwitz, The Associated Press Posted Jan 11, 2017 4:11 pm MDT Last Updated Jan 12, 2017 at 8:40 am MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email
“If the expedition finds the wreck we will survey, photograph and film it and document its condition,” said Professor Julian Dowdeswell, Director of the Scott Polar Research Institute at the University of Cambridge, who is leading the team.“If there are deep-water marine species colonising the wreck, the marine biologists may try to obtain scientific samples using the Remotely Operated Vehicle (ROV), if that can be deployed above the site from the ship.“However, we will not remove any items from the wreck.” When on 21st November 1915 the polar explorer ship Endurance finally yielded to the Antarctic pack ice, Ernest Shackleton and his crew began one of the most gruelling survival attempts in history.Their five-month ordeal on the ice floes followed by the all-or-nothing 720-nautical-mile dash to South Georgia has since become the stuff of legend, pored over by scholars and adventurers for more than a century.But of the ship itself, no trace has been detected since the day it went down.On Monday, a British-led team announced it was setting out to find the wreck of Endurance, thought to be at rest nearly two miles beneath the Larsen C Ice Shelf in the Weddell Sea.Operating from the research vessel SA Agulhas II, the expedition will use the most advanced unmanned submarines in the world to scour the sea bed. S.A. Agulhas II But they will also arrive armed with an equally important tool – information from the diary of Captain Frank Worsley, the renowned navigator who was busy recording precise sextant readings even as the ship went down.At least three previous plans to find the stricken Endurance have failed.If the new Weddell Sea Expedition 2019 succeeds, the ship will be listed as a historic monument, protected under international law. Ernest Shackleton, British explorer, Antarctica, 1909Credit:Print Collector/Hulton Archive The effort to locate the Endurance will be undertaken alongside a detailed scientific study of the Larsen C Ice Shelf, which is acutely susceptible to atmospheric warming from above and ocean warming from below.The fourth largest ice shelf in Antarctica, the body was 17,000 square miles in area in July 2017.“Our expedition will be the first to use autonomous underwater vehicles,” said Professor Dowdeswell.“Because AUVs can free swim, it is not necessary for the vessel to be directly above the wreck location.“So long as we can get close enough to the location with the ship, we can deploy the AUVs under the ice and conduct the search.”When the Endurance became trapped it was sailing to drop Shackleton off for the beginning of his bid to cross Antarctica.In 2016 Lieutenant-Colonel Henry Worsley, a distant relation of the ship’s master, Captain Frank Worsley died just 30 miles short of achieving the feat himself. Built in Norway in 1912, the Endurance was arguably the strongest wooden ship ever constructed, with a 85-inch keel made from four pieces of soil oak.But unlike some “bowl-bottomed” ships of the period, it was not designed to rise out of the ice when it closed in.It meant that when the ship became beset amid the polar pack ice, the pressure was taken by the hull, which gave up after ten months.Shackleton and his 27 crew members subsequently spent weeks surviving on the ice, hoping it would drift them towards safety. Eventually they used three lifeboats to reach Elephant Island. Shackleton and five others then set sail for South Georgia in search of help, arriving two weeks later. It was not until August 1916 that the last of his crew were rescued.Funded by the Flotilla Foundation, the new expedition will send drones ahead of the SA Agulhas II to chart the best route through the ice. In 2013, scientists at London’s Natural History Museum said they believed the ship may have been preserved from wood-boring worms by the Antarctic Circumpolar Current. Want the best of The Telegraph direct to your email and WhatsApp? Sign up to our free twice-daily Front Page newsletter and new audio briefings.
Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)RelatedSeaman feared dead after sliding off fishing vesselDecember 15, 2018In “Crime”Boat sinks off the coast, crew members rescuedOctober 22, 2014In “Crime”GDF rescues 10 fishermen attacked by Pirates at seaSeptember 23, 2013In “Crime” CCTV footage obtained from the fishing vessel itself, when replayed, showed Sharma sliding off the vesselThe Social Protection Ministry’s Labour Department has launched an investigation into the drowning of a seaman attached to the Pritipaul Singh Investments Company after a mishap some 100 miles out at sea.The man had been identified as Navishwar Karamdatt, called “Sharma”, of Diamond Housing Scheme, East Bank Demerara (EBD).According to reports surfacing, on Wednesday, operatives of the Labour Department took a team to the MV Snook which is docked at the company’s wharf in Georgetown. The team was attempting to ascertain what led to Karamdatt’s death by investigating the level of safety conditions under which workers are operating.The entire ordeal which was captured on surveillance footage showed two workmen trying to stabalise a section of a caged instrument in the midst of ravaging waves on the open waters.As the waves became more intense, both men were thrown about the ship’s deck, with Karamdatt being thrown into in the sea. From the footage, it was seen that the vessel’s rails had wide spaces below and underneath.This publication understands that the investigators interviewed several workers as the probe into the seaman’s suspected death gets underway.It was said that the vessel’s crew was a five-member team. The MV Snook departed on December 3, 2018 and made its way back to shore last week Saturday following Wednesday’s mishap.It is believed that Karamdatt hit his head when he was thrown off the vessel by the ferocious waves. He was seen waving and from the footage, it was not clear if a lifebuoy was on hand to be thrown into the water in an effort to save the man’s life.Marine safety is slated to become a topic of much discourse since Karamdatt’s suspected drowning was followed by the suspected next-day demise of a boat caption from Moruca, Region One (Barima-Waini) after he fell overboard, into the Pomeroon River, Region Two (Pomeroon-Supenaam) on Thursday last.Reports were that Linden Williams accidentally fell into the river and despite efforts to locate him, this was to no avail. Persons in the area had disclosed that the cargo boat usually travels from Moruca to Charity to transport goods for Williams’ employer.