Far from moderate. Far to the left.
Do you remember how Joe Biden was sold to us as the experienced, sober, nice-guy moderate? Democrat party elders, the media and a considerable number of squishy Republicans were happy to tell themselves that Ol’ Joe was just the man to reduce our four year-long fever brought about by the toxic presence of Orange Man.
Of course, we now know that was a fantasy. A lie, actually. The Biden administration is by no stretch of the imagination or of the English language – tortured as it is by the Left – a moderate. As an example, we have Biden’s nominee for Comptroller of the Currency – the top regulator of banks.
Saule Omarova grew up in the Soviet Union and got her degree from Moscow State University on the Vladimir Lenin Personal Academic Scholarship. She is an outspoken proponent of Soviet-style communism.
In her writings, she has advanced the idea that wages, asset prices, capital and credit should be set, overseen and allocated by the federal government. That is to say that the Federal Reserve would have the authority and the mandate to govern everything from how much money you can borrow and for what purpose all the way down to how much your neighborhood grocery store pays its employees.
If confirmed as Comptroller by the Senate, she intends to have the Federal Reserve take over bank deposits – effectively “ending banking as we know it” (her words). Ms. Omarova believes that the Federal Reserve should become, “the ultimate public platform for generating, modulating, and allocating financial resources in a modern economy.” (I can’t wait until the federal government starts “modulating” things. How about you?)
She believes that capital and credit should be overseen by a “National Investment Authority” comprised of unelected bureaucrats and academics. On the list of her priorities for the National Investment Authority will be the mandate to finance a “big and bold” climate agenda (her words, again).
But wait! There’s more! Ms. Omarova wants to create an independent “Public Interest Council” consisting of “highly paid” academics (her words, yet again) charged with broad subpoena power to oversee the existing financial regulatory agencies – including the Fed. As she envisions the “Public Interest Council,” it will not be subject to the “constraints and requirements of the administrative process” (even more of her words). In other words, utterly unaccountable to the citizens who both pay for it and suffer under the unintended (and likely horrific) consequences that will inevitably arise from its diktats.
By his words, Biden says he’s a capitalist. But this nomination tells us otherwise. No one committed to free market capitalism would countenance the public statements of Saule Omarova as a nominee to oversee the American banking system.
In their towering arrogance, Ms. Omarova and her ilk believe that you and I have neither the right nor the intellectual capacity to run our own lives and allocate our own lawfully earned capital as we see fit.
By no stretch is that anything remotely resembling “moderate.” This administration is surpassing the Woodrow Wilson presidency as the most far-left in our history.
If you’re not afraid, you’re not paying attention.