We imported a true Soviet to run the OCC.
Omarova graduated from Moscow State University in 1989 on the Lenin Personal Academic Scholarship.
Her thesis from MSU is titled Karl Marx's Economic Analysis and the Theory of Revolution in The Capital.
Omarova moved to the United States in 1991, where she received a Ph.D in political science from the University of Wisconsin–Madison (UW), and a Juris Doctor from Northwestern University Pritzker School of Law.
Omarova’s goal is the eventual elimination of private banking and the establishment of the Federal Reserve as the nation’s only bank.
In her own words:
“The core idea here is simply to allow all U.S. citizens and lawful residents, local governments, non-banking firms and non-business entities to open transactional accounts directly with the Federal Reserve, thus bypassing private depository institutions,” she wrote. “In this sense, it is a variation on the familiar FedAccounts — or FedCoin, ‘digital dollar wallets,’ etc. — theme. In principle, FedAccounts can be made available as an alternative to bank deposit accounts, upon a person’s request.”
Omarova herself wrote that her proposal is “deliberately radical in scope and substance.”
Ms. Omarova thinks asset prices, pay scales, capital and credit should be dictated by the federal government. In two papers, she has advocated expanding the Federal Reserve’s mandate to include the price levels of “systemically important financial assets” as well as worker wages, noted the WSJ.
Ms. Omarova believes capital and credit should be directed by an unaccountable bureaucracy and intelligentsia, observed the Editors of the Wall Street Journal. In a recent paper “The People’s Ledger,” she proposed that the Federal Reserve take over consumer bank deposits, “effectively ‘end banking,’ as we know it,” and become “the ultimate public platform for generating, modulating, and allocating financial resources in a modern economy.”
She has proposed establishing a National Investment Authority to divert investments away from the oil and gas industry and into "clean and green" infrastructure projects. Speaking at a virtual forum in May, Omarova said "the way we basically get rid of those carbon financiers is we starve them of their sources of capital."
Indeed, Omarova is so far out in Communism’s Left Field that Janet Yellen, Biden’s Treasury secretary (a garden variety liberal Democrat) raised concerns about her taking the post.
In the findings, respondents gave Biden a 40 percent approval rating on his handling of the economy. Similarly, he received a 44 percent percent approval rating on creating jobs, 39 percent rating on fighting terrorism, 39 percent on handling foreign affairs, 38 percent on dealing with violence and crime, 35 percent on handling immigration, and 33 percent on his disastrous handling of our withdrawal from Afghanistan.
On the contrary, when respondents were polled in January 2021 on their approval of Trump, the numbers were higher across the board. In January, 56 percent of respondents approved of Trump’s handling of the economy, 58 percent on creating jobs, 55 percent on fighting terrorism, 52 percent on immigration, 52 percent on foreign affairs, and his lowest, 49 percent on administering the government.