Breaking:Lincoln names Jermaine Gales as football head coach
Today's Edition Local Missouri National World Opinion Obits Sports GoMidMo Events Classifieds Newsletters Contests Special Sections Jobs

Missouri Treasurer Scott Fitzpatrick is jumping on board in opposition to President Joe Biden's latest Treasury nominee.

On Friday, Fitzpatrick joined 20 other state financial officers in sending a letter of opposition to the president over his nomination of Saule Omarova for comptroller of the currency, a position responsible for regulating and monitoring national banks.

Omarova, a Cornell University law professor, has taken heat from Senate Republicans over some damaging comments about the banking industry and over her position calling for the complete transfer of demand deposit accounts to the Federal Reserve.

In its letter, the State Financial Officer's Foundation calls for Biden to recall his nomination of Omarova, stating she has radical views and they have "deep concern" she would use the position to expand control over the private banking sector and disrupt the nation's economy.

"We share the general belief that the U.S. Senate should defer to the President on most nominees, but not one who has made such reckless and irresponsible comments regarding the institutions and system she would regulate," the letter states. "We hereby call upon you to withdraw this nomination on the grounds that Omarova's professed worldview is incompatible with the free market and is therefore disqualifying."

"The most recent elections should be a reality check for those who wish to dramatically dismantle and change our democratic republic. A majority of Americans emphatically reject these ideas," it continues.

Fitzpatrick, who is the national vice chairman of the State Financial Officer's Foundation, said Omarova's written work and social media posts are enough to disqualify her from the job.

He said the comptroller of the currency plays a great role in determining how the banking and finance industries are regulated and Omarova could throw them into disarray.

"As recently as last year, Ms. Omarova has written papers detailing ways she envisions restructuring America's financial system by centralizing power and shifting consumer bank deposits from private banks to the Federal Reserve. These views are also evident on her social media accounts," Fitzpatrick said in a news release. "This is not someone we want in charge of regulating America's financial system. President Biden should recognize his mistake and withdraw this nomination, and if he fails to do so, I hope the U.S. Senate will reject this unacceptable nominee."

Sen. Jon Tester, a Democrat from Montana and member of the Senate Banking Committee, has also said he has concerns about the nominee.

Tester said Omarova's statements about the role of government in the financial system raise concerns about her ability to serve impartially.

The Senate Banking Committee could hold a confirmation hearing before the end of the month. If approved by the committee, her nomination would advance to a full Senate vote.

COMMENTS - It looks like you're using Internet Explorer, which isn't compatible with our commenting system. You can join the discussion by using another browser, like Firefox or Google Chrome.
It looks like you're using Microsoft Edge. Our commenting system is more compatible with Firefox and Google Chrome.
/** **/