Garrity Joins Other State Financial Officers in Opposition to Biden Nominee
Calling her views “out of line with American principles,” Pennsylvania Treasurer Stacy Garrity joined with 21 other state fiscal officers from 18 states asking President Joe Biden to abandon his progressive nominee for the Office of Comptroller of the Currency.
“The nominee has repeatedly expressed views that are completely out of line with American economic principles,” Garrity said. “She has said that she wants to ‘end banking as we know it’ – and earlier this year claimed that we should want the natural gas, oil, and coal industries to ‘go bankrupt’ in order to address climate change. It’s clear that she is not the right person to serve as Comptroller of the Currency. If President Biden doesn’t withdraw the nomination, the Senate should reject it.”
The Office of the Comptroller of the Currency, a bureau of the U.S. Department of the Treasury, is responsible for chartering, regulating, and supervising all national banks.
In a letter to the president, Garrity and the other fiscal officers wrote they “are opposed to Ms. Omarova because of her radical views and have a deep concern that she would abuse her supervisory power as Comptroller to expand political control over the private banking sector, disrupting the economy. … Omarova’s professed worldview is incompatible with the free market and is therefore disqualifying.”
The letter further noted, “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. 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.
Garrity joined treasurers and other fiscal officers from Arizona, Arkansas, Florida, Idaho, Indiana, Kentucky, Louisiana, Mississippi, Missouri, Nebraska, North Carolina, North Dakota, South Dakota, Texas, Utah, West Virginia, and Wyoming in calling for Biden to withdraw the nomination.
They are not alone. As Delaware Valley Journal has previously reported, the graduate of Russia’s Moscow State Univerity is opposed by Sen. Pat Toomey (R-Pa.). “I don’t think I’ve ever seen a more radical choice for any regulatory spot in our federal government,” Toomey said. “I know that is a very sweeping statement to make. I think I can stand by it.”
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