It was stunning that President Joe Biden nominated Cornell University Law School professor Saule Omarova to run the Office of the Comptroller of the Currency.
This radical candidate had zero support among Republican senators, and it didn’t take long for several Democrats to cross the aisle. I’ve posted about Omarova here and here.
Even before a video emerged of the far left, Kazakh-born Omarova saying the fossil-fuel industry needed to go bankrupt to tackle climate change surfaced, most politicos thought she was an extreme choice.
Then, we learned she supports the centralization of consumer banking – at the Federal Reserve.
On Tuesday, Omarova submitted a request to withdraw further consideration of her candidacy and Biden accepted it.
Omarova in her withdrawal letter: "I deeply value President Biden’s trust in my abilities and remain firmly committed to the Administration’s vision … At this point in the process, however, it is no longer tenable for me to continue as a Presidential nominee."
— Jennifer Epstein (@jeneps) December 7, 2021
In the following statement, Biden praises Omarova’s accomplishments and blames the failure of her nomination on “inappropriate personal attacks that were far beyond the pale.”
That’s not actually true. We rejected her candidacy because it’s not a good idea to have a Marxist in charge of U.S. national banks. In a previous lifetime, Biden would have agreed.
I have accepted Saule Omarova’s request to withdraw her name from nomination for the Office of the Comptroller of the Currency. I nominated Saule because of her deep expertise in financial regulation and her long-standing, respected career in the private sector, the public sector, and as a leading academic in the field. She has lived the American dream, escaping her birthplace in the former Soviet Union, and immigrating to America, where she went on to serve in the Treasury Department under President George W. Bush and now works as a professor at Cornell Law School.
As a strong advocate for consumers and a staunch defender of the safety and soundness of our financial system, Saule would have brought invaluable insight and perspective to our important work on behalf of the American people. But unfortunately, from the very beginning of her nomination, Saule was subjected to inappropriate personal attacks that were far beyond the pale. I am thankful to Chairman Brown for giving her a fair hearing and the opportunity to demonstrate her qualifications.
The Office of the Comptroller of the Currency is a critical agency, supervising and regulating about 1,200 national banks in the federal banking system. I will continue to work to find a nominee for this position and plan to make an announcement at a future date.
Biden: "Saule would have brought invaluable insight and perspective to our important work on behalf of the American people. But unfortunately, from the very beginning of her nomination, Saule was subjected to inappropriate personal attacks that were far beyond the pale." pic.twitter.com/cDUwvY8k5B
— Jennifer Epstein (@jeneps) December 7, 2021
Goodbye comrade.
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