On the recordApril 20, 2016
Reserving the right to object, and I will object. Until just a few weeks ago, I did not object to Mr. Szubin's nomination. I did oppose the nomination in the Banking Committee because he supports a clearly inconsistent interpretation of the Iran threat reduction act because it would hinder the implementation of the Iran nuclear deal. To be fair to Mr. Szubin, he is well respected on both sides of the aisle, having worked in the former Bush administration. I suspect this is not his interpretation. This is the interpretation of the community organizer, the failed novelist, and the political operative who are in charge of implementing these parts of the Iran nuclear deal. However, I couldn't, in good conscience, support the nomination given that clearly flawed interpretation. But just 2 or 3 weeks ago, Secretary Jack Lew gave a speech in which he all but announced that the U.S. Government would allow Iran access to the U.S. dollar. This would truly unravel every last sanction we have against Iran, not just for their nuclear program but for their campaign of aggression and terror throughout the Middle East. This is in direct contradiction to what Secretary Lew said and in direct contradiction to what Mr. Szubin said. In fact, I would note Mr. Szubin's testimony before the Banking Committee last summer: Iranian banks will not be able to clear U.S. dollars through New York, hold correspondent account relationships with U.S.…





