PHOENIX, AZ – State financial officers across the country, including Arizona Treasurer Kimberly Yee, are calling on President Joe Biden to withdraw his nominee, Saule Omarova, for the Office of the Comptroller of the Currency.
The Office of the Comptroller of the Currency is a prime regulator of the country’s private banks.
Biden nominee Saule Omarova saying the quiet part out loud. On the oil, coal and gas industries:
"We want them to go bankrupt if we want to tackle climate change." pic.twitter.com/luMR2HEMK9
— BidenNoms, A Project of AAF (@bidennoms) November 9, 2021
According to FOX News, Omarova’s statements about the banking and energy industries have sparked controversy and raised doubts about her capitalism. The Cornell University law professor said “the banking industry is the “quintessential a—— industry.” She also called for an end to banking “as we know it” by “the complete migration of demand deposit accounts to the Federal Reserve.”
“Omarova made headlines again this week when footage reemerged in which she seemed to support energy industries going “bankrupt” for the sake of tackling climate change,” reported FOX News.
“This is yet another example of the Biden Administration’s far-left, radical attempt to infiltrate a Soviet-style government takeover upon the lives of everyday Americans,” said Yee in a press release. “We’ve already seen big government overreach and socialist policies from this Administration, and this nominee will systematically eliminate freedom in the marketplace in America.”
“First, it was the IRS snooping scheme looking into the finances of our bank accounts. Now the Biden Administration wants someone in charge of our banking system who studied in Moscow under a Communist regime and prefers the centralized banking system of the Soviet Union to our nation’s own free market system. This is not what the country wants. The American people deserve better,” said Yee.
The joint letter of state financial officers states, “Ms. Omarova wants to put an ‘end to banking as we know it’ — again, her words—and transfer private banking functions to the Federal Reserve, where accounts would ‘fully replace’ private bank deposits. The Fed would control ‘systemically important prices’ for fuel, food, raw materials, metals, natural resources, home prices and wages.”
“We share the general belief that the U.S. Senate should defer to the President on most nominees, but not one who has made such reckless and irresponsible comments regarding the institutions and system she would regulate. We hereby call upon you to withdraw this nomination on the grounds that Omarova’s professed worldview is incompatible with the free market and is therefore disqualifying,” wrote the financial officers. “The most recent elections should be a reality check for those who wish to dramatically dismantle and change our democratic republic. A majority of Americans emphatically reject these ideas.”