Biden appointed Cornell law professor to oversee the US banking system
Senator Pat Toomey asks the candidate for the Comptroller of the Currency to publish her undergraduate thesis which deals with Karl Marx.
The Republican of Pennsylvania sent a letter to Professor Cornell Saule Omarova (law) requesting a copy of his undergraduate thesis titled âKarl Marx’s Economic Analysis and The Theory of Revolution in Capitalâ.
Omarova attended Moscow State University on the Vladimir Lenin Scholarship.
âAlthough it appears that you removed any reference to your dissertation from the version of your curriculum vitae (CV) currently available on the Cornell Law School website, the article only appeared on your CV until April 2017, “Toomey wrote in an October 5 letter.
He gave him until October 13 to provide a copy of the thesis. “Since your thesis was written while you were a student at Moscow State University in the late 1980s, I assume it was written in Russian and will require translation,” the senator wrote. .
“Ms. Omarova did not respond to the ranking member’s request, âsaid Amanda Thompson, spokesperson for Toomey and the banking committee. The College’s solution by e-mail on October 15th. “We certainly hope that she will reconsider her decision so that senators have the information necessary to fulfill their constitutional obligation to advise and consent on appointments.”
Omarova’s appointment would begin at the Senate Committee on Banking, Housing and Urban Affairs, where Toomey is the leading member.
The College’s solution emailed Professor Omarova on October 12 and 15 asking for comment and whether she was considering submitting her dissertation but did not receive a response.
No one more “radical” than Omarova, says Toomey
Senator Toomey explained his concerns in a speech in the Senate on October 6.
âMs. Omarova has been celebrated on the far left for promoting ideas that she herself described as ‘radical’. This is something we can agree on,â Toomey said. “These are very, very radical ideas. In fact, I don’t think I’ve ever seen a more radical choice for a regulatory position in our federal government.”
âI know this is a very radical statement to make. I think I can take it, âToomey said.
He criticized Omarova for writing in 2020 that she wanted to see a complete transformation of the bank.
âThere are a lot of extraordinary and radical things here, but maybe the heart of it all is that Ms. Omarova doesn’t just want tighter bank regulation,â the Pennsylvania Republican said. âWhat she wants, and I quote – these are her words – ‘effectively end the banking as we know it.’ These are words she wrote last year.
The sentence comes from a October 2020 paper Omarova submitted to Vanderbilt Law Review. His research paper “outlines a series of structural reforms” to “radically redefine the role of a central bank as the ultimate public platform for generating, modulating and allocating financial resources in a democratic economy – the people’s ledger “.
“By separating their lending function from their monetary function, the proposed reform will effectively end banking as we know it,” Omarova wrote.
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