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Douglas Andrews / October 12, 2021

Biden’s Commie Banking Nominee

Having graduated from Moscow State University just before the Soviet Union collapsed, Saule Omarova is an old-school central planner.

With our previous president having repeatedly vowed that “America will never be a socialist country,” and with all the subsequent criticism of Joe Biden and his fellow Democrats leading us toward that very same socialism, one would think that he might avoid putting communist sympathizers in key positions with his administration. Especially key positions that involve influence on the economy — such as the regulation of our banks.

One would think.

But nyet. If ever there were an indication that Soviet communism is alive and well within today’s Democrat Party, it’d be Joe Biden’s nominee for comptroller of the currency, Cornell law professor Saule Omarova.

For starters, Omarova graduated from Moscow State University in 1989, having gone to school on a Lenin Personal Academic Scholarship. No kidding. So while Ronald Reagan was denouncing The Evil Empire and demanding that Soviet President Mikhail Gorbachev “tear down this wall,” Saule Omarova was learning all about the virtues of the Soviet system — the one that builds walls to keep people in and shoots people who try to escape. We half expected Omarova to have won the Josef Stalin Prize for her graduate thesis on collectivism and terror-famines.

“Thirty years later,” as the Wall Street Journal editorial board writes, “she still believes the Soviet economic system was superior, and that U.S. banking should be remade in the [Soviet state bank’s] image.”

Of course, it’s possible that the Journal simply has it in for Omarova, and that in fact she’s an avowed anti-communist, an acolyte of Friedrich Hayek and Milton Friedman, and a proponent of Adam Smith’s “invisible hand.” Of course, it’s also possible that Basement Joe Biden got more population-adjusted votes last November than Barack Obama got in 2008.

So it is with Omarova. Here’s what she tweeted just two years ago: “Until I came to the US, I couldn’t imagine that things like gender pay gap still existed in today’s world. Say what you will about old USSR, there was no gender pay gap there. Market doesn’t always ‘know best.’”

After getting her comeuppance from a stream of Twitter replies, Omarova walked back her ridiculous comment, then vomited forth another absurdity: “I never claimed women and men were treated absolutely equally in every facet of Soviet life. But people’s salaries were set (by the state) in a gender-blind manner. And all women got very generous maternity benefits. Both things are still a pipe dream in our society!”

Okay, but at least our stores have food on the shelves. And does anyone want this or any government telling us how much money we can make? Ours is a country of 330 million people, and this Moscow State grad is the best banking nominee Joe Biden can come up with?

Omarova would supervise some 1,200 financial institutions and would have sweeping powers to punish banks that don’t play by her rules. Pennsylvania’s Pat Toomey, the ranking member on the Senate Banking Committee, said he had “serious reservations about her nomination,” noting that Omarova “has called for ‘radically reshaping the basic architecture and dynamics of modern finance’ including nationalizing retail banking and having the Federal Reserve allocate credit.”

Serious reservations indeed. It’ll be interesting to see just how committed this woefully unpopular president is to ramming through this radical, this avowed central planner, to run our banking system. As the Journal concludes, “Ms. Omarova is the wrong nominee for the wrong industry in the wrong country in the wrong century.”

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