Thirteen years after the financial crisis that nearly toppled the country’s economy and pounded shockwaves into American politics, a bipartisan group of senators managed to tank President Biden’s choice for a top financial services industry regulator, as lobbyists for the sector goaded them to do so.
The Consumer Bankers Association similarly told Politico that Omarova’s statements “raise serious concerns about how she would oversee the well-regulated, well-supervised banking system, protect consumers and work with an industry critical to financing the American Dream for families and small businesses.”
The “well-regulated, well-supervised banking system”?!? WTF?
A fine idea if there wasn’t a 50-50 Senate…though it would be good to find some new blood (like Omarova) who could take things on for the next generation.
I’m a history buff, so for me it’s Silverado Savings and Loan, a truly bipartisan scandal!
ETA: my bad, Silverado was all Neal Bush; Lincoln Federal Savings and Loan was bipartisan due to Saint John McCain’s involvement in the Keating 5 scandal. The rest of the miscreants were Dems.
Also 50/50 Senate is why we can’t have nice regulators. Throw everything you’ve got into more Dem Senate seats in 2022.
All I can think is that option 1 might be a doable but tough confirmation so this was an opening gambit before we get the real name.
We can be frustrated, but what about this Senate gives anyone the impression that this was a serious candidate? And by serious, I mean that the Senate would seriously consider her.