Republican Pat Toomey

Biden’s Radical Nominee To Be The Nation’s Chief Banking Regulator Is Suddenly Reluctant To Share Her Writings On Marx

One of President Joe Biden’s top nominees to manage the economy apparently doesn’t want senators – or the American public – that she may be a closet radical.

Pennsylvania Republican Sen. Pat Toomey has demanded that Cornell University professor Saule Omarova, Biden’s nominee to serve as U.S. comptroller of the currency, turn over a thesis paper she wrote on Karl Marx.

The comptroller of the currency is most responsible for regulating banks.

Toomey, a member of the Senate Banking, Housing, and Urban Affairs Committee, wrote in an Oct. 5 letter to Omarova that the panel needs copies of published writings of all nominees in order to “fully assess” their fitness for office.

Toomey noted that Omarova penned a thesis, called “Karl Marx’s Economic Analysis and the Theory of Revolution in The Capital,” when she was a student at Moscow State University in the late 1980s. She attended the school on the V.I. Lenin Personal Academic Scholarship.

In his letter, Toomey wrote that Omarova has deleted all references to the paper on her official resume at Cornell – even though she boasted of it as recently as 2017.

After positing that the document was likely written in Russian, Toomey added, “To ensure there is adequate time for translation and review by lawmakers, my Committee staff reached out to both you and staff at the Office of the Comptroller of the Currency (OCC) requesting a copy last month. Unfortunately, we have not received any assurances that the Committee would receive a copy of the paper in a timely fashion.”

Toomey gave Omarova until last Wednesday to produce a copy of the original, in Russian, as well as an English translation, if one existed.

The conservative website College Fix reported on Monday that Omarova has yet to turn the paper over to Toomey’s office.

Amanda Thompson, a spokeswoman for Toomey, told the Fix, “We certainly hope she reconsiders so Senators have the information necessary to fulfill their constitutional duty to advise and consent on appointments.”

Toomey, however, already suspects she wants to keep her musings on Marx secret. That’s because her true thoughts about communism, if widely known, would likely be rejected by most Americans.

In a Senate floor speech on Oct. 6, he said, “Ms. Omarova has been celebrated on the far left for promoting ideas she herself has described as ‘radical.’ That’s a point we can agree on. … In fact, I don’t think I’ve ever seen a more radical choice for any regulatory spot in our federal government.”

“I know that is a very sweeping statement to make. I think I can stand by it,” Toomey added.

If Omarova was, in fact, a hardcore radical Marxist in her youth, her beliefs have not softened much with age.

Toomey criticized Omarova for advocating a complete transformation of banking.

In a paper just a year ago, she said she’d like to “effectively ‘end banking,’ as we know it,” by making the Federal Reserve, which already holds considerable power over the direction and traction of the national economy, “the ultimate public platform for generating, modulating, and allocating financial resources in a modern economy.”

Meanwhile, The Wall Street Journal noted last month that in 2019 Omarova observed, “Say what you will about old USSR, there was no gender pay gap there. Market doesn’t always ‘know best.’”

The Journal argued Omarova “is the wrong nominee for the wrong industry in the wrong country in the wrong century.”

Yet, she seems perfectly at home with the man who is rapidly shaping up as the most radical president in recent U.S. history. 

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