WASHINGTON, D.C. – U.S. President Joe Biden today withdrew Saule Omarova’s nomination to serve as Comptroller of the Currency following bipartisan opposition based on American Accountability Foundation’s (AAF) research.
“From openly endorsing Marxism to breaking U.S. laws and expressing a desire to bankrupt the fossil fuel industry, Saule Omarova has proven herself disqualified to serve as a top regulator for our country’s banking system,” Tom Jones, Founder of American Accountability Foundation said. “AAF will continue standing up for integrity in our government by doing the research necessary to keep radicals like Omarova out of the highest levels of our nation’s government.”
Saule Omarova is Soviet-born and attended Moscow State University, where she wrote a thesis on Marxism. While she refused to disclose this thesis throughout her nomination process, it is clear that Omarova’s interest in Marxist policy and analysis did not stop after her academic studies. Through their research, AAF uncovered that Omarova was a part of a Facebook group called “Marxist Analysis and Policy” as recently as 2019.
Omarova’s opinion of the banking industry she would have been responsible for regulating is not very high. On several occasions she was also recorded saying that she considers financial services the “quintessential a------ industry.”
Later, AAF unearthed a recording of Omarova from her talk during a 2021 Jain Family Institute “Social Wealth Seminar” series. During the talk, she said of the coal, oil and gas industries, “we want them to go bankrupt if we want to tackle climate change.” AAF shared the clip on Twitter, which resulted in the video going viral with over 1.6 million views. In Omarova’s hearing in the Senate Banking Committee, both Republican and Democratic Senators mentioned the clip and expressed serious concern with her radical viewpoints.
Outside of the serious policy concerns, AAF’s research also drew Omarova’s character into question. AAF discovered Omarova’s 1995 arrest records from an incident where she was caught shoplifting hundreds of dollars in merchandise from a Wisconsin T.J. Maxx. As AAF pointed out on Twitter, this was not a youthful indiscretion. At the time of the theft, Omarova was 28 years old and a guest of the United States, in the country on a visa.
After AAF released their research, Omarova began facing the bipartisan opposition which ultimately led to the White House’s withdrawal of the nomination.
AAF is a non-profit government oversight and research organization that uses investigative tools to educate the public on issues related to personnel, policy, and spending.