Wednesday, April 17, 2024

Biden’s Pick for Bank Czar Is Avowed Marxist Who Wants to Nationalize Finance

'I don't think I've ever seen a more radical choice for any regulatory spot in our federal government...'

President Joe Biden has selected an ardent Marxist, Saule Omarova, who went to Moscow State University under a scholarship named after communist dictator V.I. Lenin and wrote her thesis on Karl Marx, as U.S. controller of the currency, responsible for supervision of banks in the United States.

The appointment has been met with widespread condemnation from the banking industry and not just because Omarova sought to conceal her thesis on Marx from her latest résumé.

“I don’t think I’ve ever seen a more radical choice for any regulatory spot in our federal government,” said Sen. Pat Toomey, R-Pa., according to Fox Business.

The RAIR Foundation, a pro-democracy watchdog, warned in a recent press release that Omarova had been linked to other avowed Marxists with even more explicit ties to the toxic idealogy.

Underpinning claims that Omarova wants to nationalize the banks, it said an image had surfaced recently on Facebook showing Omarova alongside Robert Hockett and the late Lynn Stout as the “Bolshevik contingent of Cornell’s finance group.”

Hockett, who worked alongside Omarova at Cornell University, is known to have advised some of Congress’s most radical leftists including Rep. Alexandria Ocasio-Cortez, D-NY; and Sens. Bernie Sanders I-Vt.; Sherrod Brown, D-Ohio; Kirsten Gillibrand, D-NY; and Elizabeth Warren, D-Mass.

“We can envision, for example, a national development bank, organized as a public–private partnership in which the public takes the lead investment-management role,” said a paper co-authored by Hockett and Omarova.

Previously, Hockett tweeted about nationalizing the biotech industry.

“Capital Alpha Partners analyst Ian Katz predicted in September that there was just a 35% chance that Omarova would be confirmed by the Senate,” according to MarketWatch.

“We don’t think Omarova would get a single Republican vote,” Katz said. “So in a 50–50 Senate, she needs the support of every Democrat. We don’t see it happening.”

But a 35% chance is a lot in a country where the major media took pains to dispel the notion that Barrack Obama was a socialist just 13 years ago.

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