{"id":1095575,"date":"2021-12-07T17:14:17","date_gmt":"2021-12-07T22:14:17","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1095575"},"modified":"2021-12-07T17:14:20","modified_gmt":"2021-12-07T22:14:20","slug":"comrade-down-socialist-nominee-for-bank-regulator-drops-out","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/comrade-down-socialist-nominee-for-bank-regulator-drops-out\/","title":{"rendered":"Comrade Down: Socialist Nominee for Bank Regulator Drops Out"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">18<\/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%2Fcomrade-down-socialist-nominee-for-bank-regulator-drops-out%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=1095575&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--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/11\/GettyImages-1354042691-scaled-e1637264393110.jpg\" class=\"ff-og-image-inserted\" \/><\/div>\n<p>Lenin scholar Saule Omarova withdrew her name from consideration for the country\u2019s top bank regulator on Tuesday after losing the support of moderate Senate Democrats.<\/p>\n<p>Omarova told the White House it was &#8220;no longer tenable&#8221; to remain a nominee for comptroller of the currency, the <em>New York Times <\/em><a href=\"https:\/\/www.nytimes.com\/2021\/12\/07\/business\/saule-omarova-occ-nomination.html\" target=\"_blank\" rel=\"noopener\">reported<\/a>. Omarova came under withering criticism from Senate Republicans over her calls to radically reform the banking system and create a New Deal-style federal agency to oversee infrastructure spending.<\/p>\n<p>The withdrawal is a major setback for progressives, who touted Omarova\u2019s criticism of big banks and the fossil fuel industry. President Joe Biden said in a statement accepting Omarova\u2019s withdrawal that she would have been a &#8220;staunch defender&#8221; of consumers but that she &#8220;was subjected to inappropriate personal attacks that were far beyond the pale.&#8221;<\/p>\n<p>Omarova\u2019s defenders accused Republicans of waging a smear campaign against the Cornell professor by bringing up her academic history in the Soviet Union. Born in Soviet-controlled Kazakhstan, Omarova studied at Moscow State University, where she received a scholarship named after Vladimir Lenin and wrote a thesis on Karl Marx. Omarova dodged repeated requests from Senate Republicans to provide a copy of the thesis as part of the confirmation process. Omarova <a href=\"https:\/\/freebeacon.com\/biden-administration\/biden-banking-nominee-scrubs-karl-marx-paper-from-resume\/\" target=\"_blank\" rel=\"noopener\">removed<\/a> the thesis from her academic r\u00e9sum\u00e9 in recent years.<\/p>\n<p>Omarova was ultimately felled by four Democrats\u2014Sens. Jon Tester (Mont.), Kyrsten Sinema (Ariz.), Mark Kelly (Ariz.), and Mark Warner (Va.)\u2014who <a href=\"https:\/\/freebeacon.com\/biden-administration\/in-blow-to-communists-senate-rejects-biden-nominee-for-bank-regulator\/\" target=\"_blank\" rel=\"noopener\">told<\/a> the White House just before Thanksgiving they would not vote for confirmation. Tester and Warner, two members of the Senate Banking Committee, said at Omarova\u2019s confirmation hearing they had deep concerns about her proposals to reform the banking system.<\/p>\n<p>Tester took issue with Omarova\u2019s <a href=\"https:\/\/www.foxnews.com\/politics\/treasury-saule-omarova-energy-industries-bankrupt\" target=\"_blank\" rel=\"noopener\">statements<\/a> that the fossil fuel industry would have to go &#8220;bankrupt&#8221; in order to fight climate change. Omarova also conceded during the hearing that <a href=\"https:\/\/freebeacon.com\/biden-administration\/embattled-biden-nom-omarova-wants-to-put-feds-on-boards-of-banks\/\" target=\"_blank\" rel=\"noopener\">she supports<\/a> appointing federal officials to serve on the boards of big banks during financial crises.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lenin scholar Saule Omarova withdrew her name from consideration for the country\u2019s top bank regulator on Tuesday after losing the support of moderate Senate Democrats. Omarova told the White House &#8230;<\/p>\n","protected":false},"author":155,"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-1095575","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\/1095575","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\/155"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1095575"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1095575\/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=1095575"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1095575"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1095575"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}