Banking’s ‘Worst Nightmare’ Takes Her Fight to Senate

Banking’s ‘Worst Nightmare’ Takes Her Fight to Senate

There may be a lot of bankers this week wishing Elizabeth Warren had been appointed director of the Consumer Financial Protection Bureau after all.

Ms. Warren’s defeat Tuesday of Republican Sen. Scott Brown of Massachusetts could make life far more uncomfortable for big banks than a role at the helm of the fledgling consumer agency, her brainchild.

Ms. Warren embraced policies during her campaign that make big-bank officials cringe, including reinstating Glass-Steagall, the Depression-era law that separated commercial and investment banks.

“Wall Street has reason to be afraid. She will add to…the voices in Congress saying that the megabanks need to be downsized,” said Camden Fine, president of the Independent Community Bankers of America, a trade group that also supports breaking up the megabanks.

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2 Responses to “Banking’s ‘Worst Nightmare’ Takes Her Fight to Senate”
  1. Sarah says:

    No way. That Senate seat was very expensive. Warren never advocated jailing Banksters, instead she’s obediently reciting lines about “the deficit” and the possible need for austerity. Thus towing the party line. She had plenty of chances to “give ‘em hell”. It’s never characterized this way but her biggest failure was indirectly supporting bankruptcy legislation that has only served as a more punitive weapon against predatory lending victims. Hearing her revelation about financial violence in “maxed out” is disgusting, a leading law school graduate and real estate attorney apparently never bothered to study any “humanities” offerings, or any number of famous American literature, for there she would have understood the crap that banks and hustlers have long pulled when unrestrained, and would famously pull again. She’s had a long career as a right wing centrist, and will practice careerist obedience
    in the Senate, serving the elite of which she is proudly one.

  2. barbra orr says:

    it is
    that makes me happy i hope she gives them hell- a woman is not going to allow some of the crimes banks have gotten away with

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