Biden’s Comptroller of the Currency Nominee Declares War on Fossil Fuels: ‘Go Bankrupt’ to ‘Tackle Climate Change’

Saule T. Omarova attending Committee hearing titled: “Fintech: Examining Digitization, D
Senate Banking Committee, Public domain, via Wikimedia Commons

Saule Omarova, the Cornell law professor whom President Joe Biden nominated to be the Comptroller of Currency, has already created controversy over her writings about Marxism and her expressed hostility toward cryptocurrency and community banks. And now she has openly joined the Biden administration’s war on fossil fuels.

“For certain troubled industries and firms that are in transitioning,” Omarova said in a video posted on social media by the American Accountability Foundation (AAF). “And here what I’m thinking about is primarily coal industry and oil and gas industry.”

“A lot of the smaller players in that industry are going to probably go bankrupt in short order – at least we want them to go bankrupt if we want to tackle climate change, right?” she said.

“Zealots like Saule Omarova and the climate radical crowd have the failing Biden administration in their pocket as they irresponsibly call to bankrupt the fossil fuel industry that drives nearly our entire economy,” Tom Jones, founder of AAF, told Breitbart News. “An appointed official and policy so dangerously misinformed would destroy American energy jobs and stifle innovation.”

As Breitbart News reported, if Omarova is approved, she would have the “most powerful, least accountable” position over cryptocurrencies and the banking industry:

“It really is the most powerful, least accountable job in the government,” a former senior government official told Breitbart News.

Breitbart News reported:

Although the OCC is a part of the Treasury Department, it is an independent branch of the Treasury Department that can operate with wide autonomy. Since the position operates for five years, Omarova, if confirmed, could serve in the position beyond a one-term Biden presidency.

Sen. Pat Toomey (R-PA), the ranking member of the Senate Banking Committee, has asked Omarova to provide the committee a copy of her thesis, “Karl Marx’s Economic Analysis and the Theory of Revolution in The Capital.

Omarova has not provided a copy of her 1989 Moscow State University thesis to the Banking Committee.

Toomey said in a statement:

All nominees within the Committee’s jurisdiction are required to provide their writings, articles, and papers. Unfortunately, Professor Omarova appears to believe she is exempt from these rules. In order for lawmakers to fully and fairly consider Professor Omarova’s nomination to serve as our nation’s top banking regulator, we need a complete picture of her policy positions. The fact that she recently deleted references to her thesis begs the question: what is she hiding?

In another of Omarova’s writings, “The People’s Ledger How to Democratize Money and Finance the Economy” she called for eliminating all community banks and to transfer all bank deposits to “FedAccounts” at the Federal Reserve.

“The Democratic Party over the last couple of administrations, they want the government to essentially take over a lot of financial functions from banks,” the former senior government official said.

During a Senate Banking Committee hearing in September, Omarova said, “Democratizing finance… is an inherently political exercise,” and we can only achieve that goal “through a coherent and comprehensive program of [government] reforms.”

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