Last month, President Joe Biden tapped Cornell Law School Professor Saule Omarova to be the next Comptroller of the Currency. That would put her in charge of the Office of the Comptroller of the Currency (OCC), the Treasury agency that supervises national banks and federal thrifts.
Senator Pat Toomey (R-PA) has asked her to give the Senate Banking Committee a university thesis on Marxism she wrote during her time at Moscow State University in 1989 titled “Karl Marx’s Economic Analysis and the Theory of Revolution in The Capital.” The college reportedly claims it has been destroyed and no copies of it exist.
Fortunately, senators do not need her thirty year old thesis on Marx to determine that Omaraova is too radical for the post. All the evidence they need is in an article published in the October 2021 issue of the Vanderbilt Law Review. In “The People’s Ledger: How to Democratize Money and Finance the Economy,” Omaraova argues that all bank deposits should be transferred into what she calls FedAccounts at the Federal Reserve. More