'I Will Be Frank And Honest': Tim Scott Decries Saule Omarova's Nomination To Her Face

chairman i do want to note that not a single republican on this committee has mentioned anything other than your position related to your nomination i keep hearing my friends on the other side refer to personal attacks one thing i can say and be very proud of on this committee from these republicans not a single person has talked about anything other than your stated positions as it relates to this nomination so any suggestions otherwise is simply hogwash i want to be fair and i will be fair i won't be hyperbolic but i will be frank and honest i cannot think of a nominee more poorly suited to be the comptroller of the currency based solely on your public positions statements and the weight of your writings than you are let me just quote you versus anybody else on the green new deal champion you proposed taking economic and climate policy making from congress and creating an unaccountable bureaucracy called the national investment authority in a roundtable this year this year you push to make the nia the dedicated institutional platform at the federal level for really being the kind of fighting muscle of the green new deal and fighting muscle of you know all of these other movements that pursuing environmental justice social economic justice equality and so on your disdain for the financial services industry in 2019 in the documentary titled i'll be kind buttholes a theory you said the financial services industry in my view and i don't think i'm alone here is the quintessential butthole industry killing american energy and jane family institute seminar in march of this year you propose bankrupting the coal and oil and gas industries saying we want them to go bankrupt if we want to tackle the climate change that's really hard to misunderstand on nationalizing banking last year i.e 2020 not 10 years ago not 20 years ago just last year paper you titled the people's ledger how to democratize money and finance the economy you proposed reforms to and i quote effectively in banking as we know it by nationalizing the vote you have was effectively ending banking as we know it how by nationalizing retail banking as it relates to the end of private banking your words no one else's this year not five years ago not 10 years ago not 20 years ago this year you said you proposed to imagine what it would be like if instead of a just a public option for deposit banking just instead of just a public option for deposit banking this would be actually the full transition in other words there would be no more private bank deposit accounts and all of the deposit accounts would be held directly at the fed i want to say that one more time because this is what really among all the other comments it's quite disturbing this is not a position that you took years ago this is something that you spoke to this year and i quote imagine what it would be like if instead of just a public option for deposit banking this would be actually the full transition in other words there would be no more private bank deposit accounts and all of the deposit accounts will be had held directly at the fed i don't have any questions for you because there's nothing you can say today to undo what you said for years including this year thank you mr chairman thanks senator scott senator warner of virginia is recognized from his office

Channel: Forbes Breaking News

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Keywords: Sen. Tim Scott, Saule Omarova, Senate

Id: vRz5M4xTtfs

Length: 4min 42sec (282 seconds)

Published: Thu Nov 18 2021