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Relevant context: https://nypost.com/2021/09/30/bidens-pick-for-treasury-post-sought-end-to-banking-as-we-know-it/ https://nypost.com/2021/09/30/bidens-pick-for

Relevant context: https://nypost.com/2021/09/30/bidens-pick-for-treasury-post-sought-end-to-banking-as-we-know-it/ https://nypost.com/2021/09/30/bidens-pick-for-treasury-post-...

Hokusai 5y ago
> President Biden’s controversial pick to be the Treasury Department’s comptroller of the currency is a USSR-born and educated professor who has praised the former Soviet Union’s lack of a gender pay gap while recently advocating for ending banking “as we know it” by moving Americans’ finances from private banks to the Federal Reserve. It is related the praise of lack of pay gap and the suggested changes? The article seems to link both not explicitly but letting the reader to get to that conclusion. I hope that pay gap between genders is reduced and everybody gets a fair opportunity.
- alexnewman 5y ago
  The idea that women are treated better in the USSR is insane. Please go visit Russia and tell me that. It's the most sexist developed society I've dealt with.
  - david38 5y ago
    They're not, but often, the wealthier the country, the more the difference in pay between men and women because women can simply get whatever job they're interested in without regard to the money. If you are in India or Russia, the difference between being a programmer vs local laborer is extreme, so anyone who can become a programmer (or similar high paying job for multi-national company) will. Thus, Russia and India have more female programmers (and similar) than the US.
    - ivan_gammel 5y ago
      It’s better to check statistic data. Gender pay gap existed in USSR, was comparable to the Western countries and didn’t go anywhere after 1991. Russia leaned to the right and became more socially conservative since then. It is indeed a very sexist society now.
- psyc 5y ago
  The point isn't the pay gap part, it's the USSR part. They're trying to paint her as a communist.
  - splitstud 5y ago
    Which is silly without evidence I agree. So, with no experience what value does she have? There's nothing in her academic work that shows some outstanding quality. Is she in ideologue? If so, of what type?
  - commiekillah2 5y ago
    [flagged]
  - joejerryronnie 5y ago
    Well, she’s not a communist but her ideas about the federal government taking over and centrally directing all fiscal activities would make Hugo Chavez blush.
- WastingMyTime89 5y ago
  You have to like such blatant partiality in the coverage: “USSR-born and educated”, the insistence on “ending banking as we know it” while waiting five paragraphs to actually explain it’s about splitting the lending activity from the management of people accounts and has nothing to do with the Soviet Union, the completely irrelevant quotation on the gender pay gap. I really like American media. They are so bad they make even the terrible ones in my country look half decent.
jonstewart 5y ago
The NY Post is about as trustworthy of a source as the National Enquirer.
- deleted 5y ago
  [deleted]
gotoeleven 5y ago
more context https://www.banking.senate.gov/newsroom/minority/toomey-on-professor-omarovas-refusal-to-turn-over-thesis-on-marxism-what-is-she-hiding https://www.banking.senate.gov/newsroom/minority/toomey-on-p...
fennecfoxen 5y ago
Context in her own words, October 2021: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3715735 https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3715735 "This Article... offers a blueprint for a comprehensive restructuring of the central bank balance sheet as the basis for redesigning the core architecture of modern finance. Focusing on the U.S. Federal Reserve System (the Fed), the Article outlines a series of structural reforms that would radically redefine the role of a central bank as the ultimate public platform for generating, modulating, and allocating financial resources in a democratic economy—the People’s Ledger. On the liability side of the ledger, the Article envisions the complete migration of demand deposit accounts to the Fed’s balance sheet and explores the full range of new, more direct and flexible, monetary policy tools enabled by this shift. On the asset side, it advocates a comprehensive qualitative restructuring of the Fed’s investment portfolio, which would maximize its capacity to channel credit to productive uses in the nation’s economy." The Wall Street Journal described her as "a one-person systemic risk to the banking system" but directed readers, "Give Ms. Omarova credit for candor," for she was quite honest and open about her intentions in this area.

Relevant context: https://nypost.com/2021/09/30/bidens-pick-for-treasury-post-sought-end-to-banking-as-we-know-it/ https://nypost.com/2021/09/30/bidens-pick-for-treasury-post-...

Hokusai 5y ago

> President Biden’s controversial pick to be the Treasury Department’s comptroller of the currency is a USSR-born and educated professor who has praised the former Soviet Union’s lack of a gender pay gap while recently advocating for ending banking “as we know it” by moving Americans’ finances from private banks to the Federal Reserve. It is related the praise of lack of pay gap and the suggested changes? The article seems to link both not explicitly but letting the reader to get to that conclusion. I hope that pay gap between genders is reduced and everybody gets a fair opportunity.

alexnewman 5y ago
The idea that women are treated better in the USSR is insane. Please go visit Russia and tell me that. It's the most sexist developed society I've dealt with.
- david38 5y ago
  They're not, but often, the wealthier the country, the more the difference in pay between men and women because women can simply get whatever job they're interested in without regard to the money. If you are in India or Russia, the difference between being a programmer vs local laborer is extreme, so anyone who can become a programmer (or similar high paying job for multi-national company) will. Thus, Russia and India have more female programmers (and similar) than the US.
  - ivan_gammel 5y ago
    It’s better to check statistic data. Gender pay gap existed in USSR, was comparable to the Western countries and didn’t go anywhere after 1991. Russia leaned to the right and became more socially conservative since then. It is indeed a very sexist society now.
psyc 5y ago
The point isn't the pay gap part, it's the USSR part. They're trying to paint her as a communist.
- splitstud 5y ago
  Which is silly without evidence I agree. So, with no experience what value does she have? There's nothing in her academic work that shows some outstanding quality. Is she in ideologue? If so, of what type?
- commiekillah2 5y ago
  [flagged]
- joejerryronnie 5y ago
  Well, she’s not a communist but her ideas about the federal government taking over and centrally directing all fiscal activities would make Hugo Chavez blush.
WastingMyTime89 5y ago
You have to like such blatant partiality in the coverage: “USSR-born and educated”, the insistence on “ending banking as we know it” while waiting five paragraphs to actually explain it’s about splitting the lending activity from the management of people accounts and has nothing to do with the Soviet Union, the completely irrelevant quotation on the gender pay gap. I really like American media. They are so bad they make even the terrible ones in my country look half decent.

jonstewart 5y ago

The NY Post is about as trustworthy of a source as the National Enquirer.

deleted 5y ago
[deleted]

gotoeleven 5y ago

more context https://www.banking.senate.gov/newsroom/minority/toomey-on-professor-omarovas-refusal-to-turn-over-thesis-on-marxism-what-is-she-hiding https://www.banking.senate.gov/newsroom/minority/toomey-on-p...

fennecfoxen 5y ago

Context in her own words, October 2021: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3715735 https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3715735 "This Article... offers a blueprint for a comprehensive restructuring of the central bank balance sheet as the basis for redesigning the core architecture of modern finance. Focusing on the U.S. Federal Reserve System (the Fed), the Article outlines a series of structural reforms that would radically redefine the role of a central bank as the ultimate public platform for generating, modulating, and allocating financial resources in a democratic economy—the People’s Ledger. On the liability side of the ledger, the Article envisions the complete migration of demand deposit accounts to the Fed’s balance sheet and explores the full range of new, more direct and flexible, monetary policy tools enabled by this shift. On the asset side, it advocates a comprehensive qualitative restructuring of the Fed’s investment portfolio, which would maximize its capacity to channel credit to productive uses in the nation’s economy." The Wall Street Journal described her as "a one-person systemic risk to the banking system" but directed readers, "Give Ms. Omarova credit for candor," for she was quite honest and open about her intentions in this area.