Biden’s Banking Nominee Calls to Eliminate All ‘Private Bank Accounts’; Saule Omarova, Biden’s pick for Treasury post, wants coal, oil and gas industries ‘to go bankrupt’; Don’t Let Comrade Omarova Regulate the Banks, and related stories

WATCH: Biden’s Banking Nominee Calls to Eliminate All ‘Private Bank Accounts’:

Saule Omarova, President Joe Biden’s nominee for the Office of the Comptroller of the Currency (OCC), called during a March 2021 virtual conference to eliminate all private bank accounts and deposits.

Omarova spoke at the Law and Political Economy (LPE) Project’s “Law & Political Economy: Democracy Beyond Neoliberalism” conference in March.

Omarova discussed one of her papers, “The People’s Ledger How to Democratize Money and Finance the Economy,” which would help “redesign” the financial system and make the economy “more equitable for everyone.”

She said it would change the “private-public power balance” and democratize finance to a more systemic level.

During her explanation of her paper, she said that the Federal Reserve, the nation’s central bank, can only use “indirect levers” to “induce private banks to increase their lending.”

Her paper calls for eliminating all banks and transferring all bank deposits to “FedAccounts” at the Federal Reserve. --->READ MORE HERE

Senate Committee, AAF

Saule Omarova, Biden’s pick for Treasury post, wants coal, oil and gas industries ‘to go bankrupt’

President Biden’s controversial, Soviet-born pick to lead a key branch of the Treasury Department admitted in a newly unearthed video that she “wants” traditional fuel industries “to go bankrupt.”

Saule Omarova, Biden’s pick to be the comptroller of the currency, was filmed calling coal, oil and gas “troubled industries” in which “a lot of the small players … are going to probably go bankrupt.”

“At least, we want them to go bankrupt if we want to tackle climate change, right?” she said in the now-viral clip.

The Cornell University law professor made the remarks in February during a “Social Wealth Seminar” event hosted by the Jain Family Institute, a nonprofit research organization, Fox News said.

By Thursday, they had been viewed more than 1.5 million times on Twitter after being shared by the American Accountability Foundation (AAF). --->READ MORE HERE

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