Biden's Pick to Oversee Banks Withdraws After Racist 'Communist' Smear Campaign
because Omarova was born in Kazakhstan and attended Moscow State University.“I deeply value President Biden’s trust in my abilities and remain firmly committed to the Administration’s vision of a prosperous, inclusive, and just future for our country,” Omarova wrote in her letter to the White House requesting the withdrawal of her nomination. “At this point in the process, however, it is no longer tenable for me to continue as a presidential nominee.
The OCC plays a major role in regulating and overseeing US banks, and Omarova, a professor at Cornell University, has published extensive research and proposals on how to do so. In one of her papers, Omarovathat the Federal Reserve provide consumer banking services as a “more efficient alternative” to private banks, and has called for assigning a government representative to the board of any banking institution whose size could present a risk to the broader financial system.
Given Omarova’s record of progressive ideas, she faced an uphill battle to be confirmed by the Senate. But the questioning directed at her — includingby Republican Sen. John Kennedy whether he should address her as “professor or comrade” because of Kazakhstan’s history in the Soviet Union — still came as a shock, and a reminder of the dark, ongoing legacy of the ‘50s Red Scare today.
“Senator, I’m not a communist,” Omarova told Kennedy, “I do not subscribe to that ideology. I could not choose where I was born.” She also the Senator her grandmother “escaped death twice under the Stalinist regime,” and that she’s “proud to be an American.”
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