Episode 1399 • • 33:09 - 45:14
1399: Noodle Mensch
Saule Omarova, National Investment Authority Proposal
Saule Omarova, Biden's nominee for Comptroller of the Currency, has proposed a "National Investment Authority" (NIA) that would function as a publicly owned version of BlackRock. The plan involves raising capital from institutional investors with a government guarantee of principal return, backed by the Federal Reserve. Critics describe the proposal as a "fifth-grade report" on communism that seeks to circumvent Congressional spending powers.