Economy & Business, Immigration, Politics

USSR Alumni Dropped From Biden Team

Cornell law professor Saule Omarova withdrew her nomination to be currency comptroller of the U.S. Treasury Department on Tuesday after pushback from moderate Democrats made clear there would be insufficient Senate support to confirm President Joe Biden’s controversial pick.

Born in the former Soviet nation of Kazakhstan, Omarova immigrated to the United States in 1991. The White House hails Omarova as “one of the country’s leading academic experts on issues related to regulation of systemic risk and structural trends in financial markets,” but her selection quickly drew fire for her past praise of aspects of the former Soviet Union and her support of policies more aligned with the former Communist regime than the American tradition.

The Wall Street Journal reported in September that she “graduated from Moscow State University in 1989 on the Lenin Personal Academic Scholarship. Thirty years later, she still believes the Soviet economic system was superior, and that U.S. banking should be remade in the Gosbank’s image … Ms. Omarova thinks asset prices, pay scales, capital and credit should be dictated by the federal government.” Read more…

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