When President Joe Biden appointed Saule Omarova to the Office of Comptroller of the Currency, it was not hard to discover that the Cornell academic held positions that were far from the American mainstream and would reset the U.S. economy under a command-and-control model.
That’s because the evidence has all been published, quite recently, in academic journals or appeared in videos accessible on YouTube. She has argued for the abolition of private sector banking, has urged said that all corporate charters should be conditioned on pledges to serve bureaucrat approved purposes, and said that the bankruptcy of oil and gas companies would be welcomed.
Yet New York Magazine this week launched a cover-up of her views this week, calling criticisms “ludicrous red-baiting.” The puff-piece allows Omarova to mischaracterize her own views, quotes no critics, and even more tellingly does not quote from her own paper.
Here’s the most egregiously misleading passage from New York:
“Of course, I expected that Wall Street banks would be strenuously opposing my nomination,” Omarova told me, “because my work has been focused on how to minimize systemic risk that is created when large banking institutions start aggressively growing their trading operations and feed speculative booms that may be unsustainable. I expected that they would be worried about me becoming their regulator because they would know that I have strong views about not allowing another crisis to happen; they know I ask difficult questions and keep asking them, rather than being satisfied with superficially reassuring answers from the industry.”
Every single phrase is misleading.