{"id":1271034,"date":"2022-02-04T12:54:37","date_gmt":"2022-02-04T17:54:37","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1271034"},"modified":"2022-02-04T12:54:39","modified_gmt":"2022-02-04T17:54:39","slug":"republicans-grill-fed-nominee-over-alleged-influence-peddling","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/republicans-grill-fed-nominee-over-alleged-influence-peddling\/","title":{"rendered":"Republicans Grill Fed Nominee Over Alleged Influence Peddling"},"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\">16<\/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-grill-fed-nominee-over-alleged-influence-peddling%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=1271034&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><\/div>\n<p>President Joe Biden\u2019s pick to be the nation\u2019s top banking cop came under fire from Senators on Thursday for alleged influence peddling.<\/p>\n<p>Sarah Bloom Raskin, a Duke University law professor and former deputy secretary of the Treasury, was nominated on Jan. 14 to be vice chair of supervision for the Federal Reserve Board of Governors. Republicans on the Senate Banking Commitee inquired into whether Bloom Raskin leveraged insider connections to help fintech firm Reserve Trust, on whose board she previously sat, obtain a \u2018master license.\u2019<\/p>\n<p>\u201cA Fed master account gives Reserve Trust an enormous advantage over everybody else since it appears they\u2019re the only one who has it,\u201d <a href=\"https:\/\/www.banking.senate.gov\/hearings\/01\/25\/2022\/nomination-hearing\" target=\"_blank\" rel=\"noopener noreferrer\">said<\/a> Republican Wyoming Sen. Cynthia Lummis. \u201cSomething doesn\u2019t smell right with the way this played out \u2026 they purchased your shares for almost $1.5 million. Even in this town that\u2019s a lot of money,\u201d<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Currently there is only one non-bank fintech company in the country with a Federal Reserve master account. That company was initially denied an account, but a year after Sarah Bloom Raskin joined the company\u2019s board, the company was granted it. This raises a lot of questions. <a href=\"https:\/\/t.co\/o0aNJXq5Hy\">pic.twitter.com\/o0aNJXq5Hy<\/a><\/p>\n<p>\u2014 Senator Cynthia Lummis (@SenLummis) <a href=\"https:\/\/twitter.com\/SenLummis\/status\/1489287380003692544?ref_src=twsrc%5Etfw\">February 3, 2022<\/a> <\/p>\n<\/blockquote>\n<p>\u201cCertainly, if you are suggesting anything improper, I want to make very clear that I have, first of all, had the honor to serve in various public capacities &amp; each time I have left I have been very mindful of the rules regarding departure,\u201d <a href=\"https:\/\/twitter.com\/vtg2\/status\/1489339879297372162?s=20&amp;t=EtyKuzPUceXOSq9ITqgHVA\" target=\"_blank\" rel=\"noopener noreferrer\">responded<\/a> Bloom Raskin, according to Politico\u2019s Victoria Guida.<\/p>\n<p><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\">\u201cAfter watching video of the entire exchange between Sen. <\/span><span class=\"css-901oao css-16my406 r-poiln3 r-b88u0q r-bcqeeo r-qvutc0\">Lummis<\/span><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\"> and nominee <\/span><span class=\"css-901oao css-16my406 r-poiln3 r-b88u0q r-bcqeeo r-qvutc0\">Raskin<\/span><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\">, the probability I assign to <\/span><span class=\"css-901oao css-16my406 r-poiln3 r-b88u0q r-bcqeeo r-qvutc0\">Raskin<\/span><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\"> being innocent has declined,\u201d <a href=\"https:\/\/twitter.com\/lawrencehwhite1\/status\/1489438410255314946?s=20&amp;t=hfMQvqL2uDDs2DLEkchP_Q\" target=\"_blank\" rel=\"noopener noreferrer\">wrote<\/a> Lawrence H. White, an economics professor at George Mason University. <a href=\"https:\/\/dailycaller.com\/2022\/01\/27\/chamber-of-commerce-signals-opposition-to-latest-biden-nominee-sarah-bloom-raskin\/\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>(RELATED: Chamber Of Commerce Signals Opposition To Latest Biden Fed Nominee Sarah Bloom Raskin)<\/strong><\/a><\/span><\/p>\n<p>Following Thursday\u2019s hearing, ranking member of the Senate Banking Committee Republican Pennsylvania Sen. Pat Toomey <a href=\"https:\/\/thehill.com\/homenews\/senate\/592754-toomey-presses-fed-bank-on-whether-raskin-lobbied-for-special-access\" target=\"_blank\" rel=\"noopener noreferrer\">released<\/a> a letter to Kansas City Fed President Esther George, asking for all meetings, phone calls, emails and text messages involving the decision to grant Reserve Trust its master license, The Hill reported. \u201cIt remains puzzling how Reserve Trust obtained this account when other institutions have been denied access, leading one bank to file a lawsuit against the Federal Reserve Bank of New York over the issue,\u201d Toomey reportedly wrote.<\/p>\n<p>The Senate Banking Committee will convene to vote on Bloom Raskin\u2019s nomination and those of four others to lead the central bank on Feb. 15. Democratic New York Sen. Chuck Schumer has <a href=\"https:\/\/www.nytimes.com\/2022\/02\/03\/business\/economy\/federal-reserve-sarah-bloom-raskin.html\" target=\"_blank\" rel=\"noopener noreferrer\">said<\/a> that the Senate will then \u201cmove quickly\u201d for a full floor vote on the matter.<\/p>\n<p>Content created by The Daily Caller News Foundation is available without charge to any eligible news publisher that can provide a large audience. For licensing opportunities of our original content, please contact <a href=\"mailto:licensing@dailycallernewsfoundation.org\">licensing@dailycallernewsfoundation.org<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Joe Biden\u2019s pick to be the nation\u2019s top banking cop came under fire from Senators on Thursday for alleged influence peddling.Sarah Bloom Raskin, a Duke University law professor and &#8230;<\/p>\n","protected":false},"author":1,"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-1271034","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\/1271034","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1271034"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1271034\/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=1271034"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1271034"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1271034"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}