Politic > U.S.

Republicans and Wall Street Are Smearing Biden's Bank Regulator as a Commie

1 month ago   |   By The New Republic

Wall Street has launched an all-out attack on Saule Omarova, President Biden's nominee to be the primary regulator of big banks. But the financial industry's lobbyists in Washington aren't being honest about why she gets their hackles up. The truth is that Omarova, a distinguished law professor at Cornell and a former bank lawyer who worked in the George W. Bush Treasury Department, knows the ins and outs of a multi-billion-dollar profit center for big banks, one which they don't want anyone but their own lawyers to understand: the derivatives market-a key engine of the calamitous...
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