Thursday, September 30, 2021

Biden’s pick for Treasury post sought end to banking 'as we know it'

President Biden’s controversial pick to be the Treasury Department’s comptroller of the currency is a USSR-born and educated professor who has praised the former Soviet Union’s lack of a gender pay gap while recently advocating for ending banking “as we know it” by moving Americans’ finances from private banks to the Federal Reserve. 

Saule Omarova, a Cornell University law professor, was tapped by the president Sept. 23 to oversee the nation’s biggest banks and federal savings associations, with the White House calling her “one of the country’s leading academic experts on issues related to regulation of systemic risk and structural trends in financial markets.”

If approved, Omarova would be the first female and non-white person in the position. 

Her nomination has sparked criticism from Republicans, who say she is seeking to “radically reshaping the basic architecture and dynamics of modern finance” — and reportedly Janet Yellen, Biden’s Treasury secretary raised concerns about her taking the post.


O my goodness.

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To supervise banks properly you don't need a lawyer you need a machine-gunner.

Posted by: dearieme | Oct 1, 2021 6:41:05 AM