Omarova’s nomination faces objections from Democrats

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US President Joe Biden’s selected Saule Omarova as his nominee to head the Office of the Comptroller of the Currency (OCC).  But three members of the Senate Banking Committee — Senators Jon Tester, Mark Warner and Kyrsten Sinema — initially opposed Omarova’s nomination as a bank regulator.

They did so during a phone call with panel chairman Sen. Sherrod Brown. Later Senators John Hickenlooper and Mark Kelly too joined in their protest against the nomination of Omarova.

Omarova is famous for her opposition against cryptocurrency. She has previously worked as Special Adviser for Regulatory Policy to the Under Secretary for Domestic Finance. With opposition coming from five Democrats and all Republicans, it’s important that Omarova should secure all other Democrat votes in her favour.

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The US administration will have to convince the democratic senators about the nomination of Omarova. Otherwise, the party will have to choose another nominee for Senate confirmation, considering the vehement opposition from several quarters.

Senator Pat Toomey pressured Omarova about her missing Marxism thesis in October.

Throughout her career, Omarova expressed her opposition against free enterprise and economic policies.

Omarova is a strong supporter for a dramatic increase in the scope and power of the Federal Reserve, the central bank of the United States. She supports a proposal to have the government issue “free” deposit accounts to all Americans via the Fed and administered by the U.S. Postal Service.

Omarova has graduated from a Russian university on a scholarship named for Vladimir Lenin. The Republicans have used it while criticizing her.

Omarova said of her thesis: “I was in the Soviet Union, where there was no academic freedom, and this was a mandatory assigned topic.” She added: “I know that Soviet-style communism doesn’t work.  I’ve lived through it. That system was deeply flawed. It’s dead.” Decocrat Senators seem to be deciding the fate of Omarova, according to latest indications.

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