{"id":372738,"date":"2021-11-25T15:47:07","date_gmt":"2021-11-25T12:47:07","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/five-centrist-dems-oppose-bidens-pick-for-bank-regulator\/"},"modified":"2021-11-25T15:47:07","modified_gmt":"2021-11-25T12:47:07","slug":"five-centrist-dems-oppose-bidens-pick-for-bank-regulator","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/five-centrist-dems-oppose-bidens-pick-for-bank-regulator\/","title":{"rendered":"#Five centrist Dems oppose Biden\u2019s pick for bank regulator"},"content":{"rendered":"<p>&#8220;<strong>#Five centrist Dems oppose Biden\u2019s pick for bank regulator<\/strong>&#8221;<\/p>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>Five centrist Democratic senators have reportedly told the White House that they\u2019ll oppose the nomination of Saule Omarova, President Joe Biden\u2019s controversial lefty pick for head of the Treasury Department\u2019s Office of the Comptroller of the Currency.<\/p>\n<p>The opposition from both Republicans and, now, some of Biden\u2019s own party could kill the nomination of the Soviet-born academic to the critically important post, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.axios.com\/democrats-omarova-occ-5755a0e4-c6a5-4ca7-b6c7-87d18d5491f9.html\">Axios reported<\/a>.<\/p>\n<p>In a Wednesday phone call, Sens. Jon Tester (D-Mont.), Mark Warner (D-Va.) and Kyrsten Sinema (D-Ariz.), all members of the Senate Banking Committee, told Sen. Sherrod Brown (D-Ohio), the panel\u2019s chairman, that they oppose Omarova\u2019s nomination to the post, according to Axios.<\/p>\n<p>Sens. John Hickenlooper (D-Colo.) and Mark Kelly (D-Ariz.) also oppose her nomination, according to Axios. Biden\u2019s Treasury secretary Janet Yellen has also objected to the pick, the Wall Street Journal <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.wsj.com\/articles\/comptroller-of-the-economy-saule-omarova-joe-biden-nominee-11632937029\">previously reported<\/a>.<\/p>\n<p>Omarova, a Cornell University law professor has courted controversy with eyebrow-raising academic writings on regulation, which include recently advocating for the end of banking \u201cas we know it\u201d by moving Americans\u2019 finances from private banks to the Federal Reserve.\u00a0<\/p>\n<figure class=\"wp-block-image size-large is-style-default\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"681\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/Kyrsten-Sinema_05.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"Kyrsten Sinema.\" class=\"wp-image-20268666\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/Kyrsten-Sinema_05.jpg?quality=90&amp;strip=all&amp;w=1536 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/Kyrsten-Sinema_05.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/Kyrsten-Sinema_05.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Sen. Kyrsten Sinema told Senate Banking Committee chair Sen. Sherrod Brown that she opposes Saule Omarova\u2019s nomination.<\/figcaption><figcaption><span class=\"credit\">Rod Lamkey\/Pool\/Getty Images<\/span><\/figcaption><\/figure>\n<p>Omarova, who was born in Kazakhstan in the former Soviet Union and moved to the US in 1991 to pursue her Ph.D. at the University of Wisconsin, has also slammed the culture on Wall Street as a \u201cquintessential a\u2013hole industry\u201d and praised the former Soviet Union\u2019s lack of a gender pay gap.<\/p>\n<p>In a Senate confirmation hearing held last week before the Senate Banking committee, Republicans grilled Omarova and painted her as a radical <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social<\/a>ist. <\/p>\n<p>\u201cI don\u2019t know whether to call you professor or comrade,\u201d\u00a0Sen. John Kennedy (R-La.) snarked at one point during the hearing.<\/p>\n<figure class=\"wp-block-image size-large is-style-default\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/Jon-Tester_03.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"Jon Tester.\" class=\"wp-image-20268665\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/Jon-Tester_03.jpg?quality=90&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/Jon-Tester_03.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/Jon-Tester_03.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Sen. Jon Tester said he has \u201csignificant concerns\u201d about Saule Omarova\u2019s policies<\/figcaption><figcaption><span class=\"credit\">Anna Moneymaker\/Getty Images<\/span><\/figcaption><\/figure>\n<p>\u201cI\u2019m not a communist,\u201d Omarova insisted. \u201cI do not subscribe to that ideology. I could not choose where I was born.\u201d\u00a0<\/p>\n<p>The professor denounced the communist regime of the USSR in the hearing, saying, \u201cWe can never have a repetition of that communist system anywhere in the world.\u201d\u00a0<\/p>\n<p>Other members of the committee gave extreme critiques of Omarova, with Sen. Tim Scott (R-SC) saying he could not \u201cthink of a nominee more poorly suited to be the comptroller of the currency based solely on [her] public positions, statements and the weight of [her] writings than [Omarova.]\u201d\u00a0<\/p>\n<p>In his opening remarks, committee ranking member Pat Toomey (R-Pa.) accused Omarova of a \u201clong history of promoting ideas that she herself describes as \u2018radical.\u2019 I agree that they\u2019re radical and they can fairly be described also as socialist.<\/p>\n<figure class=\"wp-block-image size-large is-style-default\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/Hickenlooper_13.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"John Hickenlooper.\" class=\"wp-image-20268664\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/Hickenlooper_13.jpg?quality=90&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/Hickenlooper_13.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/Hickenlooper_13.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Sen. John Hickenlooper also announced that he opposes Saule Omarova\u2019s nomination.<\/figcaption><figcaption><span class=\"credit\">Helen H. Richardson\/Media<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> Group\/The Denver Post via Getty Images<\/span><\/figcaption><\/figure>\n<p>\u201cShe has a plan for the government, through the Fed, to replace the free market and setting what she calls, and I quote, \u2018systemically important prices,\u2019 end quote,\u201d Toomey went on.<\/p>\n<p>In his closing remarks, Toomey labeled Omarova\u2019s policies and ideas as \u201cconsistent with a socialist view of a command and control economy,\u201d saying she is promoting \u201canti-Democratic ideas.\u201d\u00a0<\/p>\n<figure class=\"wp-block-image size-large is-style-default\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/Mark-Kelly_18.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"Mark Kelly.\" class=\"wp-image-20268667\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/Mark-Kelly_18.jpg?quality=90&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/Mark-Kelly_18.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/Mark-Kelly_18.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Sen. Mark Kelly joined the Democratic opposition.<\/figcaption><figcaption><span class=\"credit\">Rod Lamkey\/Pool\/Getty Images<\/span><\/figcaption><\/figure>\n<p>\u201cThe idea that we would put a person with these views as the chief regulator of America\u2019s national banks with the enormous powers that I just delineated, this is what is deeply disturbing and chilling,\u201d he added, urging his colleagues not to support the confirmation.\u00a0<\/p>\n<p>Omarova also received hits from Democrats. In his line of questioning, Sen. Jon Tester (D-Mt.) said he has \u201csignificant concerns\u201d about her policies and criticized the nominee for her previous opposition to a bipartisan regulatory relief he wrote in 2018.\u00a0<\/p>\n<p>Tester also pressed Omarova on her public comments on the oil industry, particularly regarding bankrupting oil companies.<\/p>\n<figure class=\"wp-block-image size-large is-style-default\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"683\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/Saule-Omarova_98.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"Dr. Saule Omarova listens during her nomination hearing.\" class=\"wp-image-20268671\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/Saule-Omarova_98.jpg?quality=90&amp;strip=all&amp;w=1536 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/Saule-Omarova_98.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/Saule-Omarova_98.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Republicans grilled Saule Omarova and painted her as a radical socialist during her nomination hearing.<\/figcaption><figcaption><span class=\"credit\">Anna Moneymaker\/Getty Images<\/span><\/figcaption><\/figure>\n<p>\u201cI do not intend to advocate that kind of position,\u201d she said, adding that she misspoke.<\/p>\n<p>\u201cThat particular statement about oil and gas companies going bankrupt, as I said, that was taken out of context and I actually misspoke, it was not well framed. My intention was actually to say, exactly the opposite, that we need to help those companies to get restructured.\u201d<\/p>\n<p>The comment in\u00a0question occurred in February\u00a0during a \u201cSocial Wealth Seminar\u201d event hosted by the Jain Family Institute.\u00a0<\/p>\n<figure class=\"wp-block-image size-large is-style-default\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/Mark-Warner_10.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"Mark Warner.\" class=\"wp-image-20268669\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/Mark-Warner_10.jpg?quality=90&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/Mark-Warner_10.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/Mark-Warner_10.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Sen. Mark Warner came out against Saule Omarova\u2019s nomination.<\/figcaption><figcaption><span class=\"credit\">Oliver Contreras\/Pool\/Getty Images<\/span><\/figcaption><\/figure>\n<p>During the event, Omarova was filmed calling coal, oil and gas \u201ctroubled industries\u201d in which \u201ca lot of the small players \u2026 are going to probably go bankrupt.\u201d<\/p>\n<p>\u201cAt least, we want them to go bankrupt if we want to tackle climate change, right?\u201d she said.<\/p>\n<p>In a second clip, she <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>eared to echo that same sentiment saying \u201cthe way we basically get rid of those carbon financiers is we starve them of their sources of capital.\u201d<\/p>\n<figure class=\"wp-block-image size-large is-style-default\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"683\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/Saule-Omarova_01.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"Tim Scott.\" class=\"wp-image-20268670\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/Saule-Omarova_01.jpg?quality=90&amp;strip=all&amp;w=1536 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/Saule-Omarova_01.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/Saule-Omarova_01.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Sen. Tim Scott said he could not \u201cthink of a nominee more poorly suited to be the comptroller of the currency\u201d than Saule Omarova.<\/figcaption><figcaption><span class=\"credit\">Anna Moneymaker\/Getty Images<\/span><\/figcaption><\/figure>\n<p>Despite the criticism, the professor has garnered support, notably from Sen. Elizabeth Warren (D-Mass.), who has called the nomination \u201ctremendous news.\u201d\u00a0<\/p>\n<p>\u201cShe is an excellent choice to oversee and regulate the activities of our nation\u2019s largest banks and I have no doubt she\u2019ll be a fearless champion for consumers,\u201d Warren previously said in a statement.<\/p>\n<p>Senate Banking Committee Chair Sen. Sherrod Brown (D-Ohio) praised the professor\u2019s experience as a \u201cpolicymaker, in the private sector, and in academia,\u201d urging his colleagues to support the nomination.\u00a0<\/p>\n<figure class=\"wp-block-image size-large is-style-default\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"683\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/Saule-Omarova_99.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"Saule Omarova.\" class=\"wp-image-20268672\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/Saule-Omarova_99.jpg?quality=90&amp;strip=all&amp;w=1536 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/Saule-Omarova_99.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/Saule-Omarova_99.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Sen. Elizabeth Warren called Saule Omarova\u2019s nomination \u201can excellent choice\u201d and believes she will be \u201ca fearless champion for consumers.\u201d<\/figcaption><figcaption><span class=\"credit\">Anna Moneymaker\/Getty Images<\/span><\/figcaption><\/figure>\n<p>\u201cHer experience as a policymaker, in the private sector, and in academia will allow her to work with stakeholders across our financial system to ensure the economy works for everyone, and to protect our economic recovery from the risky activities of Wall Street and other bad actors,\u201d\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.banking.senate.gov\/newsroom\/majority\/brown-statement-on-the-historic-selection-of-saule-omarova-to-lead-the-occ\">Brown said.\u00a0<\/a><\/p>\n<p>\u201cI call on my colleagues on the Banking and Housing Committee to support this historic nominee to this position critical to our economy.\u201d<\/p>\n<p>Omarova\u2019s nomination the post comes after lefty Dems put the kibosh on Biden\u2019s reported hopes to nominate Michael Barr, a key architect of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, for the job.\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2021\/11\/25\/five-centrist-dems-oppose-bidens-pick-for-bank-regulator\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#Five centrist Dems oppose Biden\u2019s pick for bank regulator&#8221; Five centrist Democratic senators have reportedly told the White House that they\u2019ll oppose the nomination of Saule Omarova, President Joe Biden\u2019s controversial lefty pick for head of the Treasury Department\u2019s Office of the Comptroller of the Currency. The opposition from both Republicans and, now, some of&#8230;<\/p>\n","protected":false},"author":1,"featured_media":372739,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/Saule-Omarova_00.jpg?quality=90&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[120242,71939,10701,32681,73809],"class_list":["post-372738","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-11-25-21","tag-banks","tag-democrats","tag-politics","tag-treasury-department"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/372738","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=372738"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/372738\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/372739"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=372738"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=372738"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=372738"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}