{"id":1070482,"date":"2021-11-30T22:44:18","date_gmt":"2021-12-01T03:44:18","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1070482"},"modified":"2021-11-30T22:44:25","modified_gmt":"2021-12-01T03:44:25","slug":"to-the-left-of-lenin-elizabeth-warren-associate-may-serve-as-top-fed-official","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/to-the-left-of-lenin-elizabeth-warren-associate-may-serve-as-top-fed-official\/","title":{"rendered":"\u2018To The Left Of Lenin\u2019: Elizabeth Warren Associate May Serve As Top Fed Official"},"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\">28<\/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%2Fto-the-left-of-lenin-elizabeth-warren-associate-may-serve-as-top-fed-official%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=1070482&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>Richard Cordray \u2014 a longtime ally of progressive Sen. Elizabeth Warren (D-MA) \u2014 is being considered for a key Federal Reserve position.<\/p>\n<p>According to a <a href=\"https:\/\/www.cnbc.com\/2021\/11\/30\/elizabeth-warren-ally-richard-cordray-under-discussion-for-fed-bank-supervisor.html\">CNBC<\/a> report, Sen. Sherrod Brown (D-OH) has \u201cspoken to the Biden administration about Cordray and others who could serve as the Fed\u2019s vice chair for supervision.\u201d <a href=\"https:\/\/www.wsj.com\/articles\/white-house-considering-richard-cordray-as-top-fed-banking-regulator-11638285603\">The Wall Street Journal<\/a> characterizes the position as \u201cthe government\u2019s most influential overseer of the U.S. banking system.\u201d<\/p>\n<p>\u201cI know Rich Cordray well. I like him,\u201d Brown told CNBC. \u201cI\u2019m talking to the White House about him and a number of other people.\u201d<\/p>\n<p>CNBC adds that Cordray is a \u201clikely favorite\u201d of Warren, who worked alongside Cordray when the pair helped to lead the Consumer Financial Protection Bureau. Warren recommended that President Barack Obama appoint Cordray to lead the agency\u2019s enforcement arm; however, Obama appointed him to lead the entire agency.<\/p>\n<p>Before the Consumer Financial Protection Bureau, Cordray served as attorney general of Ohio. He currently works as the chief operating officer of Federal Student Aid \u2014 the federal government\u2019s $1.6 trillion student loan agency.<\/p>\n<p>The White House directed CNBC toward a statement made on November 22 about the open central bank positions.<\/p>\n<p>\u201cPresident Biden still has three vacant seats on the Federal Reserve Board of Governors to fill, including the important position of Vice Chair for Supervision,\u201d the White House said. \u201cThe President intends to make those appointments beginning in early December, and is committed to improving the diversity in the Board\u2019s composition.\u201d<\/p>\n<p>Meanwhile, Republican lawmakers are extremely wary of Cordray\u2019s potential confirmation.<\/p>\n<p>\u201cRichard Cordray\u2019s disastrous and divisive tenure at the CFPB raises serious questions about how he might undermine the Fed\u2019s independence and nonpartisan reputation,\u201d Senate Banking Committee Ranking Member Pat Toomey (R-PA) told <a href=\"https:\/\/www.axios.com\/gop-warns-cordray-fed-f62ad05a-8de0-48a2-b0be-d310c7dae364.html\">Axios<\/a>. \u201cThis is the individual who helped Elizabeth Warren stand up an agency so unaccountable the Supreme Court took away its independent status. I\u2019d hope the White House considers less divisive figures for this role.\u201d<\/p>\n<p>\u201cI like Richard. I respect Richard. Richard is to the left of Lenin,\u201d Sen. John Kennedy (R-LA) told <a href=\"https:\/\/www.wsj.com\/articles\/white-house-considering-richard-cordray-as-top-fed-banking-regulator-11638285603\">The Wall Street Journal<\/a>.<\/p>\n<p>If officially nominated, Cordray would not be the only recent Biden economic appointee to stir controversy. The Commander-in-Chief recently tapped Cornell University law professor Saule Omarova to serve as Comptroller of the Currency \u2014 a Treasury Department position that \u201ccharters, regulates, and supervises all national banks.\u201d<\/p>\n<p>Omarova\u2019s nomination made waves after the discovery of posts displaying apparent <a href=\"https:\/\/www.dailywire.com\/news\/biden-bank-regulator-nominee-say-what-you-will-about-old-ussr-there-was-no-gender-pay-gap\">sympathy<\/a> toward the Soviet Union and its purported gender equality. Omarova has likewise <a href=\"https:\/\/www.dailywire.com\/news\/key-biden-nominee-on-oil-companies-we-want-them-to-go-bankrupt-if-we-want-to-tackle-climate-change\">called<\/a> for the bankruptcy of oil and gas companies to fight global warming, <a href=\"https:\/\/www.campusreform.org\/article?id=18281\">argued<\/a> that the Federal Reserve should manage consumer bank deposits, and <a href=\"https:\/\/www.dailywire.com\/news\/biden-nominee-who-praised-soviet-unions-lack-of-gender-pay-gap-hasnt-turned-over-karl-marx-thesis-to-senate\">drafted<\/a> a thesis entitled \u201cKarl Marx\u2019s Economic Analysis and the Theory of Revolution in Das Kapital\u201d during her college years.<\/p>\n<p>Norbert Michel \u2014 who directs the Cato Institute\u2019s Center for Monetary and Financial Alternatives \u2014 told <a href=\"https:\/\/www.dailywire.com\/news\/why-controversial-biden-nominee-saule-omarova-would-be-disastrous-as-a-key-treasury-official\">The Daily Wire<\/a> that Omarova would federalize the American banking sector. If confirmed, Omarova and other officials would have the power to \u201cbe allocating credit and funds\u201d \u2014 deciding \u201cwho gets loans and straight transfers of money\u201d \u2014 by putting money into people\u2019s accounts or taking money out of their accounts. Under her regime, \u201cthe private sector could not compete with the federal government.\u201d<\/p>\n<p>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a <a href=\"https:\/\/www.dailywire.com\/subscribe\">member<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Richard Cordray \u2014 a longtime ally of progressive Sen. Elizabeth Warren (D-MA) \u2014 is being considered for a key Federal Reserve position.According to a CNBC report, Sen. Sherrod Brown (D-OH) has \u201cspoken to the Biden administration about Cordray and others who could serve as the Fed\u2019s vice chair for supervision.\u201d The Wall Street Journal characterizes the position as \u201cthe government\u2019s most influential overseer of the U.S. banking system.\u201d\u201cI know Rich Cordray well. I like him,\u201d Brown told CNBC. \u201cI\u2019m talking to the White House about him and a number of other people.\u201dCNBC adds that Cordray is a \u201clikely favorite\u201d of Warren, who worked alongside Cordray when the pair helped to lead the Consumer Financial Protection Bureau. Warren recommended that President Barack Obama appoint Cordray to lead the agency\u2019s enforcement arm; however, Obama appointed him to lead the entire agency.Before the Consumer Financial Protection Bureau, Cordray served as attorney general of Ohio. He currently works as the chief operating officer of Federal Student Aid \u2014 the federal government\u2019s $1.6 trillion student loan agency.The White House directed CNBC toward a statement made on November 22 about the open central bank positions.\u201cPresident Biden still has three vacant seats on the Federal Reserve Board of Governors to fill, including the important position of Vice Chair for Supervision,\u201d the White House said. \u201cThe President intends to make those appointments beginning in early December, and is committed to improving the diversity in the Board\u2019s composition.\u201dMeanwhile, Republican lawmakers are extremely wary of Cordray\u2019s potential confirmation.\u201cRichard Cordray\u2019s disastrous and divisive tenure at the CFPB raises serious questions about how he might undermine the Fed\u2019s independence and nonpartisan reputation,\u201d Senate Banking Committee Ranking Member Pat Toomey (R-PA) told Axios. \u201cThis is the individual who helped Elizabeth Warren stand up an agency so unaccountable the Supreme Court took away its independent status. I\u2019d hope the White House considers less divisive figures for this role.\u201d\u201cI like Richard. I respect Richard. Richard is to the left of Lenin,\u201d Sen. John Kennedy (R-LA) told The Wall Street Journal.If officially nominated, Cordray would not be the only recent Biden economic appointee to stir controversy. The Commander-in-Chief recently tapped Cornell University law professor Saule Omarova to serve as Comptroller of the Currency \u2014 a Treasury Department position that \u201ccharters, regulates, and supervises all national banks.\u201dOmarova\u2019s nomination made waves after the discovery of posts displaying apparent sympathy toward the Soviet Union and its purported gender equality. Omarova has likewise called for the bankruptcy of oil and gas companies to fight global warming, argued that the Federal Reserve should manage consumer bank deposits, and drafted a thesis entitled \u201cKarl Marx\u2019s Economic Analysis and the Theory of Revolution in Das Kapital\u201d during her college years.Norbert Michel \u2014 who directs the Cato Institute\u2019s Center for Monetary and Financial Alternatives \u2014 told The Daily Wire that Omarova would federalize the American banking sector. If confirmed, Omarova and other officials would have the power to \u201cbe allocating credit and funds\u201d \u2014 deciding \u201cwho gets loans and straight transfers of money\u201d \u2014 by putting money into people\u2019s accounts or taking money out of their accounts. Under her regime, \u201cthe private sector could not compete with the federal government.\u201dThe Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a member.<\/p>\n","protected":false},"author":99,"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-1070482","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\/1070482","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\/99"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1070482"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1070482\/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=1070482"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1070482"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1070482"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}