Republican West Virginia State Treasurer Riley Moore announced over the weekend that he is leading a coalition of other state treasurers and financial officers in urging the U.S. Senate to reject President Joe Biden’s nominee to be Comptroller of the Currency given her radical remarks and writings.
Saule Omarova, a law professor at Cornell University who has praised the former Soviet Union and Karl Marx, has spoken about bankrupting the fossil fuel industry in the name of climate change and was to transform the U.S. banking system.
“President Biden’s nominee to regulate banks openly says she wants to bankrupt our coal and natural gas industries — I’m proud to stand with my colleagues and for West Virginia to stop this!” Moore tweeted.
Breitbart News reported on her academic paper on banking that would end banking as we know it and on her remarks demonizing fossil fuels.
The Virginia-based website Loot Press reported on the development:
Treasurer Moore has joined a coalition of 21 State Treasurers and financial officers in a letter to the Biden administration formally opposing the nomination. Treasurer Moore is also encouraging West Virginia’s Senators to oppose Omarova’s nomination, should her confirmation be brought up for a vote.
Additionally, Omarova has proposed creating a “National Investment Authority” to address climate change and other liberal social issues because she believes ‘greedy Wall Street’ hasn’t done enough to stop investments in fossil fuels.
Treasurer Moore, who has already led a coalition of 15 state Treasurers to oppose previous Biden administration attempts to eliminate investment in the fossil fuel industry, said he will strongly encourage West Virginia’s Senators to speak out and vote against Omarova’s nomination.
“The nomination of Saule Omarova to be our nation’s top banking regulator is just the latest salvo in this administration’s war on American energy and our financial freedoms,” Moore said in the news report. “We cannot allow control of our nation’s banking industry to fall to someone who has openly declared she wants to bankrupt West Virginia’s coal and natural gas industries.”
“This radical nominee has proposed moving all private consumer bank accounts to the Federal Reserve, turning the Fed’s balance sheet into the ‘People’s Ledger’ for centrally planned investments, and stifling the rise of cryptocurrencies like Bitcoin through aggressive government regulation,” Moore said. “These are the kind of ideas one would expect from central planners in Communist China, not the chief regulator of the American banking system.”
“Most concerning for West Virginia, Omarova has declared the administration needs to bankrupt coal, natural gas and oil industries to combat climate change – completely disrespecting our hardworking coal miners and natural gas workers, and flying in the face of our very way of life,” Moore said.
“President Biden has already tried to bully banks in into divesting from coal, oil and natural gas, he’s proposed weaponizing the IRS by giving them access to people’s private bank data, and now he’s put forward a banking regulator who wants to eliminate the banking system as we know it – this anti-American agenda must be stopped,” Moore said.
“America’s capitalist economy and banking system has been and continues to be a beacon for economic freedom around the globe,” Moore said. “We cannot turn control of our banking system to someone who wants to use it to advance liberals’ radical socialist agenda. I strongly urge our allies in Congress to vote against this dreadful nominee.”
A copy of the letter opposing Omarova’s nomination can be viewed here.