Welcome, Comrade! Biden’s Soviet-born nominee for Comptroller of the Currency thinks Fed should ‘end banking’

She admires USSR’s economy because there was ‘no gender pay gap’ and says hedge funds are an ‘a**hole industry’

By Elizabeth Elkind, Politics Reporter For Dailymail.Com 30 Sep 2021

  • 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
Cornell University Law Professor Saule Omarova has been tapped to lead the agency responsible for regulating big banks

+9Cornell University Law Professor Saule Omarova has been tapped to lead the agency responsible for regulating big banks

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. 

She’s advocated for moving Americans’ financial accounts from private banks to the Federal Reserveand for forcing  banks to lose leverage on federal subsidies by becoming ‘non-depository lenders.’

 It would diminish the stature of the institutions she’s supposed to regulate.

‘By separating their lending function from their monetary function, the proposed reform will effectively “end banking,” as we know it,’ Omarova wrote in a paper updated in February of this year titled ‘The People’s Ledger.’ 

She summed it up more concisely in a 2019 documentary film titled ‘A**holes: A Theory.’ Omarova called Wall Street’s hedge fund-dominated culture a ‘quintessential a**hole industry.’  

Heading the OCC, however, Omarova wouldn’t have any power over the Fed.  

If approved Omarova would be the first woman and first nonwhite person to lead the agency in its 158-year history. 

Operating as an independent agency within the US Treasury, the 3,500-person office sets bank policies dealing with more traditional merges and acquisitions and the expanding digital trade. 

Omarova graduated from Moscow State University in 1989 on a scholarship named after Soviet leader Vladimir Lenin. After moving to the US in 1991, Omarova got a Ph.D. from the University of Wisconsin and her law degree from Northwestern University. 

Born in Kazakhstan in the former Soviet Union, the law professor previously praised the communist country’s economy as something the US should aspire to.

Omarova previously called Wall Street's hedge funds a 'quintessential a**hole industry' in the documentary A**holes: A Theory (pictured here)
Omarova previously called Wall Street’s hedge funds a ‘quintessential a**hole industry’ in the documentary A**holes: A Theory (pictured here) 

‘Until I came to the US, I couldn’t imagine that things like gender pay gap still existed in today’s world. Say what you will about old USSR, there was no gender pay gap there. Market doesn’t always ‘know best,’’ Omarova posted on Twitter in 2019.

After being maligned online she appeared to backpedal but continued to praise Soviet society.

‘I never claimed women and men were treated absolutely equally in every facet of Soviet life. But people’s salaries were set (by the state) in a gender-blind manner. And all women got very generous maternity benefits. Both things are still a pipe dream in our society!’ she wrote.

This is an extract. Full article here:

https://www.dailymail.co.uk/news/article-10045817/Biden-pick-oversee-banks-thinks-Fed-end-banking-calls-Wall-St-hole-industry.html

7 comments

  • As Richard Littlejohn would say: “you couldn’t make it up!”
    Unbelievable!

    Liked by 3 people

  • Our standard of living is in constant decline while inflation keeps accelerating. We should have focussed on China instead of the USSR. We can only blame ourselves.

    Liked by 3 people

  • Pingback: Welcome, Comrade! Biden’s Soviet-born nominee for Comptroller of the Currency thinks Fed should ‘end banking’ – Liberty & Freedom

  • “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”
    This is a socialist methodology. The US is already dangerously close to socialism under the Biden administration and a Democratic-controlled Congress. This dumb bitch will help us get another huge step in that direction.

    “A 2016 Harvard poll determined that 33 percent of Americans under 30 wanted socialism. In January 2016, YouGov asked millennials whether they had a favorable or unfavorable opinion of socialism. Eight percent replied “very favorable,” 35 percent “somewhat favorable,” for a total of 43 percent, almost the same percentage as in their 2017 survey.”

    These youthful morons of the nation don’t have a clue what they are preferring. Most likely mommy and daddy help finance their luxurious living and ample free time so that they can vegetate in front of a make-believe world of PUBG, Minecraft, and League Of Legends while consuming gallons of Red Bull or ounces of coke to stay awake. They don’t realize that:
    – Much of what they enjoy in life is a result of capitalism and would disappear if socialism were to be implemented.
    – The reality of socialism — a pseudo-religion grounded in pseudo-science and enforced by political tyranny
    – Socialism in all its forms – Marxism-Leninism in the Soviet Union, Maoism in China, “state socialism” in India, “democratic socialism” in Sweden, National Socialism in Nazi Germany — has never worked.

    I fear for our nation as the whole free world should fear for our nation too. Biden, the old foolish leftist clown, may only be the beginning.

    https://www.heritage.org/progressivism/commentary/what-americans-must-know-about-socialism

    Liked by 4 people

    • I read your link. Mr Edwards is a thinker along similar lines to the excellent Dennis Prager.
      The prime reason why this foul, hateful ideology is still doing well is partly due to Bernie and his protege AOC, but mainly because of the ubiquitousness of Marxist college professors. It’s the same in Britain: academia was first colonised by the followers of the grisly Stalinist Eric Hobsbawm in the 1950’s. Hobsbawm was taken in by Britain as an asylum seeker from the nazis. He repaid our kindness by poisoning the minds of countless students, including the family of far left Labour politicians the Miliband brothers.
      The US analogue is Noam Chomsky. Unfortunately that fucker is still alive, promoting Marxist-Leninism, defending putler and spewing lies and hate about Ukraine, whose people he is angry with for having the temerity to want to be free from fucking Russia.
      Arrest all the Marxist academics and lock them up.

      Liked by 3 people

      • We should never tire getting the word out to those too dimwitted or too busy to think for themselves regarding the dangers of socialism. Too many people think that socialism means being more social, i.e. getting money or services for nothing and getting wealth dispersed more evenly and having an overall fairer society. All this despite the numerous examples of nations that tried socialism with deplorable consequences and a cost of human lives that is much more than from any other political doctrine, easily to read about in countless books and internet sites. I don’t understand our school teachers that propagate this deplorable political concept seeing their high level of education. I wonder what they have smoked, injected or dropped over the years.

        Liked by 4 people

  • Летающий Киви

    Equal pay in a country where it is legal to beat your spouse, your choice.

    Liked by 3 people

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