(TargetLiberty.org) – President Biden is about to make one of his most controversial nominations yet, despite only half his previous ones being confirmed by the Senate. The latest candidate will be a favorite of his party’s hard-left – but Senate Republicans will be fiercely opposed.
Key Republicans warn Joe Biden not to nominate Ohio's Richard Cordray as the top banking regulator on the Federal Reserve
One GOP senator: “I like Richard. I respect Richard. Richard is to the left of Lenin”https://t.co/S6t7DqfzkE— Darrel Rowland (@darreldrowland) December 1, 2021
On November 30, Senator Sherrod Brown (D-OH) told CNBC that he’s spoken to the administration about appointing Richard Cordray as the Federal Reserve’s Vice Chair of Supervision, the central bank’s top regulator.
Cordray is an ally of far-left Senator Elizabeth Warren (D-MA), since they worked together when Cordray led the Consumer Financial Protection Bureau under the Obama administration. Cordray’s tenure in that job was so disastrous the Supreme Court reined in the agency’s powers.
Now the Democratic left wants Cordray as the senior regulator in the whole US financial system – but Republicans are already bracing themselves for a fight if Biden nominates him. Senator John Kennedy (R-LA) warned, “I like Richard. I respect Richard. Richard is to the left of Lenin,” highlighting GOP fears that Biden could be about to nominate a far-left radical – and one who already has a poor reputation in government service – for such a powerful role when the country’s already facing an economic crisis.
Is a hyper-woke socialist really what our central bank needs right now?
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