* Saule Omarova is a Cornell Law School professor who graduated from college in Moscow, where she attended on a scholarship named after Vladimir Lenin
* She wrote a paper advocating for the Federal Reserve to take over Americans' personal banking in order to have more policy clout against big banks
* The agency she would oversee is tasked with regulating the country's banks
* Republicans and bank lobbyists already oppose her nomination to lead OCC
* A regulatory body Omarova proposed is included in a House bill introduced by progressive Rep. Maxine Waters aimed at expanding affordable housing
* She previously worked in the White House within George W. Bush's Treasury
A Cornell University law professor who advocated ending banking 'as we know it' and praised the Soviet Union's financial system over its lack of a gender pay gap has been tapped by the White House to lead the Office of the Comptroller of the Currency (OCC).
Saule Omarova's nomination to head the regulatory agency overseeing the country's largest banks is a controversial choice that's alarmed banking groups.
Read more ....
Update #1: Biden’s Soviet-raised pick for Treasury post sought end to banking ‘as we know it’ (NYPost)
Update #2: Biden to tap Wall Street critic Omarova as top bank cop (Politico)
WNU Editor: 'No gender pay gap' in the former USSR?!?!?!? My mother, aunts, female cousins and friends would overwhelmingly disagree. As to having her being the controller of the currency. If she was to apply for the same job in Russia with these views she would be laughed out of the room immediately.
ReplyDeleteOk boss...cool it with the reality stuff.
Spoilsport.
All kidding aside I do much appreciate your stories of the old workers' paradise.
Thank you.
Looked Saule Omarova up in Wikipedia, since she looked Kazakh. She is Kazakh.
ReplyDeleteSaule Omarova ever considered how many Kazakhz were ever in the poltiburo?
She sees the USSR with rose tinted glasses. Th USSR was not all bad, but she remembers it in a warped way. She needs to emigrate to Russia or Kazakhstan and take Joe Biden with her
she dislikes gender pay gap: you like it?
ReplyDeleteshe moved out of Russia: that is stup[id thing to do?
she worked for George Bush: that is a no no?
she favors affordable housing: lord, no!
a bullshit post and a bullshit reaction to a talented woman who does not want to overturn capitalism and replace it with Stalin communism
grow up
Boy you change your spots alot. Come on Fred ( or your little band) let's have one of those snappy come backs you're so famous for.
DeleteHousing would be affordable if Democrats would not invite the whole world in.
ReplyDeleteYou do not double the population in a generation and expect housing prices to remain stable.
You do not regulate the hell out of everything and expect costs not to rise.
The end goal of Democrats is to give workers housing and then have them beholden to the party.
Saule Omarova worked for GWB? You have a point? I trust maybe even you could come up with a point, if you strained real hard on the toilet. Or at least what you would consider a point.
In the Bush admin she would have been lower level and may have kept her communist opinions to herself. Ever consider that you stupid Bolshevik?
Earth to Bolshevik, who never did a damn thing in their whole life. The US is only 30% to 70% capitalism. So when to fails it is not readily apparent that it is the fault of capitalism.
Take the example of the supply chain being snarled up. It is the direct result of government intervention not capitalism.
I hope you get a lump of coal for Christmas, 300% rise in utility rates and a loss of hydrocarbons for a week for you hovel, so all the pipes freeze. Winter is COMING!
Omarova immediately faced a flood of criticism from the banking industry, described as “radical” and “Biden’s most polarizing pick for a top financial regulatory job.” But the industry’s top objection to Omarova—what banks say they perceive as the real threat—may be a red herring.
ReplyDeleteThus far, Omarova has been primarily condemned for musing in an academic paper last year about how individual bank accounts at the Federal Reserve could replace private deposits. The U.S. Chamber of Commerce on Tuesday announced their “strong opposition” to Omarova for precisely this reason. “Her pursuit of policy proposals expressed in her academic writings are outside the mainstream of either major political party and, if implemented, would lead to a near complete government takeover of banking,” wrote USCOC executive vice president and chief policy officer Neil Bradley in a letter to senators.
More from David Dayen | Lee Harris
Such a change, which Omarova entertains in the paper as “an exploratory exercise,” would not be under her jurisdiction at the OCC, and would require legislation to accomplish. But it sounds scary enough—eliminate all private banking!—for the industry to paint Omarova as hell-bent on their destruction.
What bankers and their allies really cannot abide is a sharp critic, who uses the knowledge gained from inside the industry against them. Indeed, Omarova would have significant tools available at the OCC to tamp down financial risk and guard against crisis. But it’s harder for finance mouthpieces to argue that such risk should be sustained for the sake of their profits.
THE CHOICE OF OMAROVA breaks sharply with precedent for the traditionally bank-friendly office.
And the complete and utter, moron lost the debate so it went spastic and started pasting articles again.
ReplyDelete3:57
ReplyDeleteas usual, nothing to say of consequence so childish insults
grow up, cesspool
Cut and paste, cut and paste, cut and paste!
Delete4:58,
ReplyDeleteYou should legally change you name to Copy & Paste. You copy and paste articles for you comments and you copy and past pix. You spend the greater part of your day copying and pasting.
ok. I will play your game
ReplyDeleteyou should change your name to nasty, low IQ, small ego mother;'s little boy since all you can do is shell out dumb insults, the same ones over and over, and doing this since this is how you were raised and your DNA reflects the shabby environment and moral obtuseness of your faulty upbringing.
now I wait (but no longer will waste time to answer) your next "gifted" comment, learned no doubt, at home when members of your family gathered to insult
other non-family members.
funny guy. your insult was copied and pasted from any one of a hundred before it.
ReplyDeleteSo you have a fan club.
DeleteThis is fantastic, we've got Freddy an old Joe Hill socialist using George W. Bush as a good example and also defending the MSM!
ReplyDeleteDemocrats in the Senate confirm a terrorist.
ReplyDeleteOver Republican objections that stemmed from her role in a 1989 tree spiking case, Senate Democrats confirmed renowned ecoterrorist Tracy Stone-Manning to lead the Bureau of Land Management Thursday. The vote not only signaled approval of Stone-Manning’s past, but also marked the escalation of calls emanating from the left to ramp up tactics of violent extremism in the name of environmental stewardship.