{"id":74708,"date":"2021-11-24T17:39:58","date_gmt":"2021-11-24T23:39:58","guid":{"rendered":"https:\/\/milesfortis.com\/?p=74708"},"modified":"2021-11-24T17:39:58","modified_gmt":"2021-11-24T23:39:58","slug":"74708","status":"publish","type":"post","link":"https:\/\/milesfortis.com\/?p=74708","title":{"rendered":""},"content":{"rendered":"<p>It&#8217;s actually quite fun to watch demoncraps fight among themselves<\/p>\n<hr \/>\n<p><a href=\"https:\/\/www.axios.com\/democrats-omarova-occ-5755a0e4-c6a5-4ca7-b6c7-87d18d5491f9.html?utm_source=twitter&amp;utm_medium=social&amp;utm_campaign=editorial&amp;utm_content=politics-bidennominees\">Centrist Dems sink Biden\u2019s nominee for top bank regulator<\/a>.<\/p>\n<div class=\"b0w77w-0 jhsJV mt-12 mb-20 sm:mt-20 gtm-story-text p\">\n<p>Five Democratic senators have told the White House they won&#8217;t support Saule Omarova to head the Office of the Comptroller of the Currency, effectively killing her nomination for the powerful bank-regulator position.<\/p>\n<p><strong>Why it matters:<\/strong>\u00a0The defiant opposition from a broad coalition of senators reflects the real policy concerns they had with Omarova, a Cornell University law professor who&#8217;s attracted controversy for her academic writings about hemming in big banks.<\/p>\n<ul>\n<li>Their opposition also hints at a willingness of some Democratic senators to buck the White House on an important nomination, even if it hands Republicans a political \u2014 and symbolic \u2014 victory.<\/li>\n<li>Republicans have attacked the Kazakh-born scholar in remarkably personal terms, and turned her nomination into a proxy battle over how banks should be regulated.<\/li>\n<\/ul>\n<p><strong>Driving the news:<\/strong>\u00a0In phone call on Wednesday, Sens. Jon Tester (D-Mont.) Mark Warner (D-Va.) and Kyrsten Sinema (D-Ariz.), all members of the Senate Banking Committee, told Sen. Sherrod Brown (D-Ohio) \u2014 the panel&#8217;s chairman \u2014 of their opposition.<\/p>\n<ul>\n<li>They&#8217;re joined in opposing her by Sens. John Hickenlooper (D-Colo.) and Mark Kelly (D-Ariz.).<\/li>\n<li>The five senators&#8217; offices either declined to comment or did not immediately respond to a request for comment.<\/li>\n<\/ul>\n<p><strong>Go deeper:<\/strong>\u00a0Biden officials also have heard directly from the senators. They&#8217;re aware of their deep opposition and know Omarova faces nearly impossible odds for confirmation.<\/p>\n<ul>\n<li>Still, they continue to back her publicly.<\/li>\n<li>&#8220;The White House continues to strongly support her historic nomination,&#8221; a White House official told Axios.<\/li>\n<li>&#8220;Saule Omarova is eminently qualified for this position,&#8221; the official said. &#8220;She has been treated unfairly since her nomination with unacceptable red-baiting from Republicans like it\u2019s the McCarthy era.&#8221;<\/li>\n<\/ul>\n<p><strong>Omarova tried to salvage her candidacy during a hearing last week,<\/strong>\u00a0where\u00a0<a class=\"gtm-content-click\" href=\"https:\/\/www.axios.com\/currency-comptroller-nominee-omarova-hearing-d8679447-4c6d-4b9f-b2e0-9ee5bec162fd.html\" target=\"_self\" data-vars-link-text=\"Republicans savaged\" data-vars-click-url=\"https:\/\/www.axios.com\/currency-comptroller-nominee-omarova-hearing-d8679447-4c6d-4b9f-b2e0-9ee5bec162fd.html\" data-vars-event-category=\"story\" data-vars-sub-category=\"story\" data-vars-item=\"in_content_link\" rel=\"noopener\">Republicans savaged<\/a>\u00a0her for her previous academic writings about how community banks should be regulated.<\/p>\n<ul>\n<li>Her nomination, reflected in an ugly hearing in which Sen. John Kennedy (R-La.) questioned whether he should call the native of the former Soviet Union &#8220;professor&#8221; or &#8220;<a class=\"gtm-content-click\" href=\"https:\/\/news.yahoo.com\/warren-accuses-gop-senator-red-185937543.html\" target=\"_blank\" rel=\"noopener\" data-vars-link-text=\"comrade\" data-vars-click-url=\"https:\/\/news.yahoo.com\/warren-accuses-gop-senator-red-185937543.html\" data-vars-event-category=\"story\" data-vars-sub-category=\"story\" data-vars-item=\"in_content_link\">comrade<\/a>,&#8221; became a\u00a0<a class=\"gtm-content-click\" href=\"https:\/\/www.axios.com\/biden-comptroller-nominee-omarova-bef4c898-a7ad-4d51-91ab-dc2212a48423.html\" target=\"_self\" data-vars-link-text=\"proxy battle\" data-vars-click-url=\"https:\/\/www.axios.com\/biden-comptroller-nominee-omarova-bef4c898-a7ad-4d51-91ab-dc2212a48423.html\" data-vars-event-category=\"story\" data-vars-sub-category=\"story\" data-vars-item=\"in_content_link\" rel=\"noopener\">proxy battle<\/a>.<\/li>\n<li>It split between the banking industry and progressives eager to impose more regulation on it.<\/li>\n<li>&#8220;The OCC charters, regulates and supervises all national banks and federal savings associations, as well as federal branches and agencies of foreign banks,&#8221;\u00a0<a class=\"gtm-content-click\" href=\"https:\/\/www.occ.treas.gov\/about\/index-about.html\" target=\"_blank\" rel=\"noopener\" data-vars-link-text=\"it says on its website\" data-vars-click-url=\"https:\/\/www.occ.treas.gov\/about\/index-about.html\" data-vars-event-category=\"story\" data-vars-sub-category=\"story\" data-vars-item=\"in_content_link\">it says on its website<\/a>.<\/li>\n<\/ul>\n<p><strong>The big picture:<\/strong>\u00a0Now that the president has\u00a0<a class=\"gtm-content-click\" href=\"https:\/\/www.axios.com\/bidens-fed-pick-powell-progressives-on-notice-440206d7-52fd-4c12-a5e3-29f611943682.html\" target=\"_self\" data-vars-link-text=\"stared down progressives\" data-vars-click-url=\"https:\/\/www.axios.com\/bidens-fed-pick-powell-progressives-on-notice-440206d7-52fd-4c12-a5e3-29f611943682.html\" data-vars-event-category=\"story\" data-vars-sub-category=\"story\" data-vars-item=\"in_content_link\" rel=\"noopener\">stared down progressives<\/a>\u00a0by renominating Jerome Powell for another term as chairman of the Federal Reserve, ideological fights between centrists and progressives about economic appointments are going to become more pronounced.<\/p>\n<ul>\n<li>Progressives like Sen. Elizabeth Warren (D-Mass.) have already indicated they&#8217;ll work to oppose Powell.<\/li>\n<li>Warren does support another Biden move, elevating Fed governor Lael Brainard to the vice-chair position.<\/li>\n<li>With centrists like Tester getting their\u00a0<a class=\"gtm-content-click\" href=\"https:\/\/www.axios.com\/senators-grill-powell-inflation-plan-4f8d54e3-b25d-4c16-9005-ff8671d61c73.html\" target=\"_self\" data-vars-link-text=\"preferred Fed candidate\" data-vars-click-url=\"https:\/\/www.axios.com\/senators-grill-powell-inflation-plan-4f8d54e3-b25d-4c16-9005-ff8671d61c73.html\" data-vars-event-category=\"story\" data-vars-sub-category=\"story\" data-vars-item=\"in_content_link\" rel=\"noopener\">preferred Fed candidate<\/a> nominated for a second term, they may feel more emboldened to challenge the White House on lower-level nominations.<\/li>\n<\/ul>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>It&#8217;s actually quite fun to watch demoncraps fight among themselves Centrist Dems sink Biden\u2019s nominee for top bank regulator. Five Democratic senators have told the White House they won&#8217;t support Saule Omarova to head the Office of the Comptroller of the Currency, effectively killing her nomination for the powerful bank-regulator position. Why it matters:\u00a0The defiant &hellip; <a href=\"https:\/\/milesfortis.com\/?p=74708\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,5],"tags":[],"class_list":["post-74708","post","type-post","status-publish","format-standard","hentry","category-enemies-foreign-domestic","category-politics"],"_links":{"self":[{"href":"https:\/\/milesfortis.com\/index.php?rest_route=\/wp\/v2\/posts\/74708","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/milesfortis.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/milesfortis.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/milesfortis.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/milesfortis.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=74708"}],"version-history":[{"count":1,"href":"https:\/\/milesfortis.com\/index.php?rest_route=\/wp\/v2\/posts\/74708\/revisions"}],"predecessor-version":[{"id":74709,"href":"https:\/\/milesfortis.com\/index.php?rest_route=\/wp\/v2\/posts\/74708\/revisions\/74709"}],"wp:attachment":[{"href":"https:\/\/milesfortis.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=74708"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/milesfortis.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=74708"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/milesfortis.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=74708"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}