{"id":1024076,"date":"2021-11-17T15:29:15","date_gmt":"2021-11-17T20:29:15","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1024076"},"modified":"2021-11-17T15:29:19","modified_gmt":"2021-11-17T20:29:19","slug":"republicans-to-reveal-biden-banking-nominees-radical-vision-to-close-americans-bank-accounts","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/republicans-to-reveal-biden-banking-nominees-radical-vision-to-close-americans-bank-accounts\/","title":{"rendered":"Republicans to Reveal Biden Banking Nominee&#039;s Radical Vision to Close Americans&#039; Bank Accounts"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Frepublicans-to-reveal-biden-banking-nominees-radical-vision-to-close-americans-bank-accounts%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1024076&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p class=\"subheading\">Senate Banking Committee Republicans plan to highlight how Saule Omarova, President Joe Biden\u2019s Comptroller nominee, has written academic papers calling for the government to abolish private sector banking and put all bank accounts into the Federal Reserve.<\/p>\n<p>The Senate Banking Committee will <a href=\"https:\/\/www.banking.senate.gov\/hearings\/11\/10\/2021\/nomination-hearing\">hold<\/a> a hearing Thursday at 9:30 a.m. Eastern to consider the qualifications for Omarova, a Cornell law professor, to become the Comptroller of the Office of the Currency (OCC).<\/p>\n<figure id=\"D-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"M-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"gmxrevmore\" class=\"H\"><\/figure>\n<p>Senate Banking Republicans said they plan to highlight just how radical Omarova would be as the Comptroller.<\/p>\n<p>\u201cWe have never in my lifetime, and I think the lifetime of many members of this committee, which runs up to 35 years, seen a nominee just for a regulatory spot who was so openly hostile to the industry that he or she would be responsible for regulating,\u201d a senior Senate GOP aide said Tuesday.<\/p>\n<p>The aide said we have a nominee who has \u201ctalked openly and repeatedly about forbidding banking and that entire sector of the economy.\u201d<\/p>\n<figure id=\"M-ROS-B2\" class=\"a8d\"><\/figure>\n<p>During a March conference, Omarova discussed one of her papers,&nbsp;\u201cThe People\u2019s Ledger How to Democratize Money and Finance the Economy,\u201d in which she calls for the destruction of all private sector banks by mandating the transfer of all bank deposits to \u201cFedAccounts\u201d at the Federal Reserve.<\/p>\n<p>During her conference speech, she <a href=\"https:\/\/www.breitbart.com\/politics\/2021\/11\/13\/bidens-banking-nominee-calls-eliminate-all-private-bank-accounts\/\">said<\/a>, \u201cThere will be no more private bank accounts, and all of the deposit accounts will be held directly at the Fed\u201d:<\/p>\n<p>\n<iframe loading=\"lazy\" title=\"LPE Conference: LPE &amp; Macro\" width=\"500\" height=\"375\" src=\"https:\/\/www.youtube.com\/embed\/u7TFHfLRYS0?start=2329&#038;feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/p>\n<p>Sen. Steve Daines (R-MT) <a href=\"https:\/\/www.breitbart.com\/politics\/2021\/10\/27\/exclusive-sen-steve-daines-biden-banking-regulator-nominees-support-of-communist-ideals-disqualifies-her\/\">said<\/a> Omarova\u2019s \u201csupport of Communist ideals\u201d disqualifies her for the position.<\/p>\n<div id=\"attachment_13999092\" class=\"wp-caption aligncenter\" readability=\"36\"><a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/11\/Steve-Daines.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-13999092\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/11\/Steve-Daines.jpg\" alt=\"WASHINGTON, DC - JANUARY 16: Sen. Steve Daines (R-MT) speaks during a news conference about proposed reforms to the Foreign Intelligence Surveillance Act in the Russell Senate Office Building on Capitol Hill January 16, 2018 in Washington, DC. Daines is part of a bipartisan group of senators that supports legislation they say would protect Americans from foreign threats while preserving their privacy. (Photo by Chip Somodevilla\/Getty Images)\" width=\"640\" height=\"480\" \/><\/a><\/p>\n<p class=\"wp-caption-text\"><em>Sen. Steve Daines (R-MT) speaks during a news conference about proposed reforms to the Foreign Intelligence Surveillance Act in the Russell Senate Office Building on Capitol Hill January 16, 2018 in Washington, DC. (Photo by Chip Somodevilla\/Getty Images)<\/em><\/p>\n<\/div>\n<p>Omarova has also said she wants to see the bankruptcy of companies in the fossil fuel industry to pave the way for climate change policies.<\/p>\n<p>\u201cFor certain troubled industries and firms that are in transition. And here what I\u2019m thinking about is primarily coal industry and oil and gas industry,\u201d she <a href=\"https:\/\/www.breitbart.com\/politics\/2021\/11\/10\/bidens-comptroller-of-the-currency-nominee-declares-war-on-fossil-fuels-go-bankrupt-to-tackle-climate-change\/\">said<\/a>.<\/p>\n<div class=\"google-auto-placed ap_container\" readability=\"80.194366197183\">\n<p>\u201cA lot of the smaller players in that industry are going to probably go bankrupt in short order \u2013 at least we want them to go bankrupt if we want to tackle climate change, right?\u201d Omarova added.<\/p>\n<p>Breitbart News Economics Editor John Carney <a href=\"https:\/\/www.breitbart.com\/economy\/2021\/10\/26\/omarova-bank-killer\/\">noted<\/a>&nbsp;Omarova would end community banking as we know it if the Senate confirms her.<\/p>\n<p>The OCC is one of the most powerful financial regulators in the U.S., with primary responsibility over national bank charters. It is a part of the Treasury Department that can operate with wide autonomy. Since the position operates for five years, Omarova, if confirmed, could serve in the position beyond a one-term Biden presidency.<\/p>\n<p>A former senior government official <a href=\"https:\/\/www.breitbart.com\/politics\/2021\/11\/09\/biden-banking-nominee-would-have-most-powerful-least-accountable-position-over-cryptocurrencies-banking\/\">told<\/a> Breitbart News if the Senate were to confirm Omarova, she would have the \u201cmost powerful, least accountable\u201d position over America\u2019s banking system.<\/p>\n<p>Sen. Pat Toomey (R-PA), the ranking member of the Senate Banking Committee, has asked Omarova to provide the committee a copy of her thesis,&nbsp;\u201cKarl Marx\u2019s Economic Analysis and the Theory of Revolution in<em> The Capital.<\/em>\u201d<\/p>\n<p>Omarova has not provided a copy of her 1989 Moscow State University thesis to the Banking Committee.<\/p>\n<p>Omorova\u2019s radical views on banking could harm her chances of getting confirmed in the Senate Banking Committee.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\" readability=\"10.27027027027\">\n<p lang=\"en\" dir=\"ltr\">NEW: <a href=\"https:\/\/twitter.com\/SenToomey?ref_src=twsrc%5Etfw\">@SenToomey<\/a> is calling on top federal banking regulator nominee Saule Omarova to turn over a copy of her thesis, \u201cKarl Marx\u2019s Economic Analysis &amp; the Theory of Revolution in The Capital.&#8221; <\/p>\n<p>Her Moscow State thesis recently disappeared from her resume.<a href=\"https:\/\/t.co\/PnwaxEC2T9\">https:\/\/t.co\/PnwaxEC2T9<\/a><\/p>\n<p>\u2014 Senate Banking GOP (@BankingGOP) <a href=\"https:\/\/twitter.com\/BankingGOP\/status\/1445731031877767170?ref_src=twsrc%5Etfw\">October 6, 2021<\/a><\/p>\n<\/blockquote>\n<p>Axios <a href=\"https:\/\/www.axios.com\/biden-comptroller-nominee-omarova-bef4c898-a7ad-4d51-91ab-dc2212a48423.html\">reported<\/a> that several Banking Committee Democrats such as Sens. Jon Tester (D-MT), Kyrsten Sinema (D-AZ), and Joe Manchin (D-WV) remain concerned about her views.<\/p>\n<p>Beyond the Senate Banking Committee, Senate Democrats would have to confirm Omarova with a one-member majority in the Senate.<\/p>\n<p>Toomey said, \u201cRepublicans will overwhelmingly oppose this self-described radical.\u201d<\/p>\n<p>In an interview with&nbsp;<em>New York Magazine<\/em>, Omarova dodged any accusations that she would eliminate national or community banks.<\/p>\n<p>She <a href=\"https:\/\/nymag.com\/intelligencer\/2021\/11\/whos-afraid-of-saule-omarova.html?utm_campaign=di&amp;utm_source=tw&amp;utm_medium=s1\">said<\/a>:<\/p>\n<blockquote readability=\"10\">\n<p>Of course, I expected that Wall Street banks would be strenuously opposing my nomination \u2026 because my work has been focused on how to minimize systemic risk that is created when large banking institutions start aggressively growing their trading operations and feed speculative booms that may be unsustainable. I expected that they would be worried about me becoming their regulator because they would know that I have strong views about not allowing another crisis to happen; they know I ask difficult questions and keep asking them, rather than being satisfied with superficially reassuring answers from the industry.<\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\" readability=\"10.96875\">\n<p lang=\"en\" dir=\"ltr\">I wrote about Saule Omarova, Biden&#8217;s nominee to be head the Office of the Comptroller of the Currency, whose hearing is tomorrow and who&#8217;s being just stupidly, stupidly red-baited: <a href=\"https:\/\/t.co\/841PG9XWMQ\">https:\/\/t.co\/841PG9XWMQ<\/a><\/p>\n<p>\u2014 Rebecca Traister (@rtraister) <a href=\"https:\/\/twitter.com\/rtraister\/status\/1460969514699472899?ref_src=twsrc%5Etfw\">November 17, 2021<\/a><\/p>\n<\/blockquote>\n<p>Omarova concluded her interview, claiming that banks have nothing to worry about concerning her nomination as long as they commit to \u201cdoing good for the United States.\u201d<\/p>\n<p>She said, \u201cAny bank that wants to channel credit into the real communities, real economy, I\u2019ll be their best friend. If wealthy banks genuinely commit to doing good for the United States, then they have nothing to be afraid of from me. Nothing.\u201d<\/p>\n<p><i>Sean Moran is a congressional reporter for Breitbart News. Follow him on Twitter&nbsp;<\/i><a href=\"https:\/\/twitter.com\/SeanMoran3\"><i>@SeanMoran3<\/i><\/a><i>.<\/i><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Senate Banking Committee Republicans plan to highlight how Saule Omarova, President Joe Biden\u2019s Comptroller nominee, has written academic papers calling for the government to abolish private sector banking and put &#8230;<\/p>\n","protected":false},"author":38,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1024076","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1024076","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/38"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1024076"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1024076\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1024076"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1024076"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1024076"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}