Posted on 09/25/2021 9:43:35 PM PDT by blueplum
resident Biden’s pick to lead a powerful bank regulator is certain to spark a partisan battle in the Senate.
Biden announced Thursday he will nominate Cornell University law professor Saule Omarova to lead the Office of the Comptroller of the Currency (OCC), tapping a fierce critic of big banks for a post with broad power over the industry.
Omarova has argued that major banks have failed to serve broader public needs and that the Federal Reserve should replace private firms in consumer banking.
In a paper published last year, she proposed “a series of structural reforms that would radically redefine the role of a central bank” and “fundamentally alter the operations and systemic footprints of private banks, funds, derivatives dealers, and ...
(Excerpt) Read more at thehill.com ...
This pick could be catastrophic, placing institutions into the
hands of the government, at least taking some services away
from them and placing them under the Fed.
As for crypto, I don’t like her attitude, because I own some.
I don’t want a Biden official anywhere near decision making
over crypto.
Joe Biden the moderate. They only thing moderate about Joe is his intelligence. Impeach 46.
From Wikipedia:
The proposed NIA would be made up of two components: a “National Infrastructure Bank (NIB), as well as and a National Management Corporation (which she nicknames “Nicki Mac”), which would serve to invest in green technologies. A 2020 article published in The New York Times reported that the proposed NIA would function in a manner similar to the Federal Reserve, and compared the NIA framework to the Reconstruction Finance Corporation created in 1932.
https://en.wikipedia.org/wiki/Saule_Omarova
I barely see the difference between her proposal and current reality, with the “private” banks anyway doing the bidding of the newly Fascist left state.
The people behind the puppet, are true radical communists who want to destroy America. Joe is the perfect tool and will say and do whatever they want him to. His reputation and re-electability is not their worry.
She’s a “red”, Jim!
There’s some truth in that, but if the fed branches out and
starts nationalizing aspects of banking, that would be
incredibly bad.
That’s right out of the USSR and China’s playbook.
Federal Reserve should replace private firms. Time to skeedaddle
Probably a bad pick, but given what banks did leading to the 2008 collapse (yes, they were partially forced to do it - which was to write loans that couldn’t be paid back, but no, they never complained about it)...I’ll hold off final judgment for a bit longer.
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