Pennsylvania Republican Toomey requests copy of Moscow State thesis from Currency Comptroller Biden’s candidate on Marx
Willow Omarova, President Joe Biden’s candidate to lead the Office of the Comptroller of the Currency, has been criticized by the banking industry for her views expressed on whether the Federal Reserve should offer individual bank accounts to Americans. Today, a key Republican is looking for more information about her work as an undergraduate student in the USSR.
Omarova graduated from Moscow State University in 1989 with a degree in philosophy, according to a curriculum vitae posted on Cornell Law School’s website, where she teaches financial regulation. She attended venerable Moscow University on the Lenin Personal Academic Scholarship, which the curriculum vitae describes as “the highest merit-based academic scholarship” available to students in the Soviet Union. (She also holds a law degree from Northwestern University in Chicago and a doctorate in political science from the University of Wisconsin-Madison.)
Republican Senator Pat Toomey of Pennsylvania written to Omarova in a letter of October 5 requesting a copy of his thesis, entitled “Karl Marx’s Economic Analysis and The Theory of Revolution in Capital”.
“Although 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article only appeared on your CV until 2017 “, the Republican ranking on the Senate Banking Committee wrote, link to an archived version of the CV which cites the title of the thesis.
Toomey said he assumed the thesis was written in Russian and would require translation.
“I don’t think I’ve ever seen a more drastic choice for any regulatory place in our federal government,” Toomey said in a Senate speech Wednesday. “I know this is a very radical statement to make. I think I can take it.
Omarova, born in the Soviet Republic of Kazakhstan, did not immediately respond to a request for comment.
Biden has been faced with the challenge of identifying a candidate to lead the OCC, the regulator that oversees nationally chartered banks, which is satisfactory to both the conservative and liberal wings of the Democratic Party. Progressives have reportedly thwarted the appointment of Michael Barr, a veteran of the Obama Treasury Department, calling him too friendly towards the big banks. But Omarova’s appointment is no less controversial due to the perception that she is hostile to the banking industry.
Capital Alpha Partners analyst Ian Katz predicted in September that there was only a 35% chance that Omarova would be confirmed by the Senate. “We don’t think Omarova would get a single Republican vote,” Katz said. “So in a 50-50 Senate, she needs the support of all Democrats. We don’t see it happening.
Archives (July 2020): “Fed Accounts” for everyone – with automatic and recurring payments triggered by economic crises