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Biden’s Radical Banking Candidate Receives Shocking News, Now Faces Impossible Odds

President Joe Biden’s candidacy to head a key Treasury Department body that oversees the nation’s banks looks set to go up in smoke.

Axios reported that three Democratic senators serving on the Banking Committee — Kyrsten Sinema of Arizona, Jon Tester of Montana and Mark Warner of Virginia — told the chair Senator Sherrod Brown of Ohio on a call Thursday. Privately, they oppose the appointment of Saule Omarova as head of the Executive Office. currency.

John Hickenlooper of Colorado and Mark Kelly of Arizona also opposed the nomination, according to Axios.

The Office of the Comptroller of the Currency oversees nearly 1,200 national banks and related entities that are jointly responsible for about 70 percent of banking operations in the country, according to the agency. website.

The cashier is also the director of the Federal Deposit Insurance Corporation.

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Omarova received some tough questions during her confirmation hearing last week about her stated views on the fundamental transformation of the banking industry and the bankruptcy of the fossil fuel industry.

NS New York Post Omarova is a Cornell University law professor who grew up in the former Soviet Union and has advocated ending banking “as we know it” by shifting Americans’ finances from private banks to private banks. Federal Reserve.

Here’s a view she advocated in October Law review articles, says that the new system created by the move will be called the “People’s Ledger”.

First, it should be noted that many former communist countries were “the People” in one way or another. In our time, we have “People’s Republic of China” and “Democratic People’s Republic of Korea”.

Next, what could happen with moving people’s bank accounts to the federal ledger, especially with a country running into trillions of dollars in deficits?

And why don’t we want the Feds to know and ultimately control every financial transaction that we as individuals and businesses make?

Thank God at least some of the Democratic senators still seem to have some sanity.

We would never want to cede control of our economy and daily life to the federal government.

Omarova, who attended Moscow State University and immigrated to the US in 1991, denies she is a communist due to an affair with a member of the Republican Banking Committee. Senator John Kennedy of Louisiana.

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“I don’t mean any disrespect. I don’t know whether to call him professor or comrade,” Kennedy said.

“I am not a communist. I don’t follow that ideology. I can’t choose where I was born,” replied Omarova, a Kazakh.

She added that “her family suffered under the communist regime” and that the law professor is now “proud to be an American.”

Besides her desire to completely change the way the American people bank, she also wants to revive the oil and coal industries.

While speaking to the “Social Wealth Workshop” in March at the Jain Family Institute, Omarova described them as “in trouble”.

“We want them to go bankrupt if we want to tackle climate change,” she said.

Tester pressed Omarova about the desire to bankrupt oil companies.

“I have no intention of advocating that kind of position,” she said, according to Post, add her wrong.

“The specific statement that oil and gas companies would go bankrupt, as I said, was taken out of context and I was wrong, it was not clearly framed. My intention was really to say, quite the contrary, that we needed to help those companies get restructured. “

So they can stay in business, as long as they no longer produce oil or coal. That’s a much better response… It’s not!

There is no way the country can quickly transition to a completely green energy economy. Trying to do so will lead to a lot of unnecessary trouble.

Senator Pat Toomey of Pennsylvania, top Republican on the Banking Committee, summary danger of Omarova’s position, saying he has “never seen a more radical candidate.”

“Overall, her idea is like a socialist manifesto for American financial services,” he said.

“She wants to nationalize the banking system, introduce price controls, create a command and control economy in which the government allocates resources unambiguously, instead of men. and women freely make decisions about the goods and services they want to buy and sell. an open market,” Toomey continued.

“This is exactly the kind of socialist idea that has failed everywhere in the world that they have been tested.”

Toomey nailed it.

Omarova’s nomination needs to go down in defeat, and it looks like it’s about to happen.

Randy DeSoto has written more than 2,000 articles for The Western Journal since he joined the company in 2015. He is a graduate of West Point and Regent University Law School. He is the author of the book “We Hold These Truths” and the screenwriter of the political documentary “I Want Your Money”.

Place of birth

Harrisburg, Pennsylvania

nationality

American

Trophies / Awards

List of deans graduating from West Point

Education

United States Military Academy at West Point, Regent . University Law School

Books written

We hold these truths

professional member

Bars in Virginia and Pennsylvania

Location

Phoenix, Arizona

Spoken language

English

Professional topics

Politics, Entertainment, Belief



https://www.westernjournal.com/report-bidens-radical-banking-nominee-gets-shock-news-now-facing-impossible-odds/ Biden’s Radical Banking Candidate Receives Shocking News, Now Faces Impossible Odds

Huynh Nguyen

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