Type to search

We The People Store: Get your conservative merch today!
Business and Finance Politics

Congress Reportedly Wants A Liz Warren Ally With Past Ties To A China-Owned Bank In Charge Of Policing COVID-19 Bailout Funds

Share

Chris White on April 29, 2020

  • A former financial regulator who backed Sen. Elizabeth Warren’s presidential candidacy and was a board member on a China-owned bank is reportedly the top candidate for a job policing coronavirus bailout funds.
  • The top candidate — businesswoman Sheila Bair — has in the past said the United States should “learn from China” on how to craft regulations. 
  • Bair’s reported candidacy as chair for the Congressional Oversight Commission watchdog group responsible for regulating the $2.2 trillion stimulus comes as Americans become more critical of China amid the pandemic.

A lifelong Republican who backed Sen. Elizabeth Warren’s presidential bid and sat on the board of a China-owned commercial bank in 2017 is the top candidate to head up the watchdog group set to police the coronavirus stimulus funds, Vice reported Wednesday.

House Speaker Nancy Pelosi and Senate Majority Leader Mitch McConnell are homing in on businesswoman Sheila Bair to chair the Congressional Oversight Commission watchdog group created in March as congress hammered out the basics of the $2.2 trillion stimulus package, sources familiar with congressional talks told VICE.

Bair’s past as a Republican and support for Warren is catapulting her to the top of the heap of potential candidates for the position, the report notes.

However, her past position as an independent non executive director on the Industrial and Commercial Bank of China’s board could complicate things if Bair is ultimately selected for the top spot. She was appointed to the ICBC in 2017.

The watchdog chair has two responsibilities: they would act as a tie-breaker for the commission’s toughest decisions. Pelosi, McConnell, Senate Minority Leader Chuck Schumer and House Minority Leader Kevin McCarthy chose the other commissioners.

Choosing a bipartisan tie-breaker is important given the partisan makeup of the other four commissioners.

The commission is made up of two Republican senators — Sen. Pat Toomey of Pennsylvania and Rep. French Hill of Arkansas — as well as Democratic Rep. Donna Shalala of Florida.

They joined Bharat Ramamurti, a former Democratic Senate aide and Warren staffer. Even so, Bair’s past favorable sentiments regarding China’s regulatory regime could create a barrier.

“Some of our rules are too complicated. We should learn from China,” Bair, a former chairman of the Federal Deposit Insurance Corporation (FDIC), told world leaders in June 2019 at the plenary session of the 11th Lujiazui Forum, a platform formed to help government officials, world financial leaders and academics discuss ways to open the market to China.

Neither, Pelosi nor McConell responded to the Daily Caller News Foundation’s request for comment. The DCNF reached out to Bair through the Volcker Alliance, a nonprofit that seeks to advances “effective management of government to achieve results that matter to citizens,” according to the website. Bair no longer holds a position on ICBC’s board, a spokeswoman for VA said without mentioning when she bowed out.

Meanwhile, the U.S. public is turning on China. Roughly 66% of Americans now hold an unfavorable view of China amid a pandemic that began in China before it bounced around the world, killing more than 100,000 people in the process, a Pew Research Center poll found. The virus has killed nearly 60,000 people in the U.S.

Reports also suggest China officials are deploying a misinformation campaign designed to make the communist nation appear as though it responded quickly and transparently to the virus.

Lijian Zhao, deputy director of China’s Foreign Ministry Information Department, falsely said in a March tweet that the director of the U.S. Centers for Disease Control and Prevention was arrested amid the Trump administration’s handling of the virus.

Twitter has reiterated to the DCNF that Zhao’s tweet does not violate the company’s policies against COVID-19 misinformation.

The Trump administration is reportedly taking steps giving President Donald Trump options to hold China “accountable” for supposedly allowing coronavirus, or COVID-19,  to spread around the globe.

“He has asked the team to look into, very carefully what happened, how this got here,” senior adviser to the president Jared Kushner said Wednesday on Fox News

Kushner added: “He will take whatever actions are necessary to make sure that the people who caused the problems are held accountable for it.”

EDITOR’S NOTE: A previous version of this article stated that Bair is currently holding a position on the Industrial and Commercial Bank of China’s board. One of the groups that Bair leads told The DCNF that she no longer holds a position at ICBC. 

Content created by The Daily Caller News Foundation is available without charge to any eligible news publisher that can provide a large audience. For licensing opportunities of our original content, please contact licensing@dailycallernewsfoundation.org.

Photo Credit: Yifan Ding/Getty Images

Scroll down to comment!

Tags:
Daily Caller News Foundation
Daily Caller News Foundation

Founded by Tucker Carlson, a 25-year veteran of print and broadcast media, and Neil Patel, former chief policy adviser to Vice President Dick Cheney, The Daily Caller News Foundation is a 501(c)(3) non-profit providing original investigative reporting from a team of professional reporters that operates for the public benefit.

  • 1

You Might also Like

5 Comments

  1. Avatar
    Tom April 30, 2020

    The government better get people OUT of their homes NOW. As the UV light from the sun reaches 7 the virus is in threat of death therefore it hides (hibernates). Where does it hibernate? In your home. Inside. Get out whether they permit it or not.

    Reply
  2. Avatar
    Don April 30, 2020

    Is ANYBODY Really Surprised ? We are an Evil Corrupt Society ! Satan is Alive and Well ! BUT GOD KNOWS !

    Reply
  3. Avatar
    bren n texas April 30, 2020

    AMERICANS WE HAVE TO TAKE BACK OUR AMERICA FROM THE EVIL CRIMINAL ACTS OF DEMOCRATS………………………..TO SOLVE AMERICAS PROBLEMS MAKE THIS CHOICE WE THE PEOPLE’ HAVE THE POWER OF OUR VOICES AND OUR VOTES, TO VOTE OUT THE ENTIRE LYING,CORRUPT, TREASONOUS DEMOCRAT PARTY COME NOV 2020, VOTE TO MAKE AMERICA GREAT AGAIN AND TO END ALL CORRUPTIONS IN WASHINGTON GOVERNMENT
    “Woe unto them that call evil good, and good evil; that put darkness for light, and light for darkness; that put bitter for sweet, and sweet for bitter!” (Isaiah 5:20).

    Reply
  4. Avatar
    John April 30, 2020

    Great !! One more fox to watch the henhouse!! Wake up America !!

    Reply
  5. Avatar
    Laura April 30, 2020

    The Democrats are in bed with China. Time to throw all of them out of office. They are a danger to this country

    Reply

Leave a Comment

Your email address will not be published. Required fields are marked *

DON’T MISS OUT!
Subscribe To Our Newsletter
There are a million ways to get your news.
We want to be your one in a million.
Stay Updated
Give it a try, you can unsubscribe anytime.
close-link