It’s On: Elizabeth Warren Versus Wall Street
Republicans have long derided Elizabeth Warren for describing herself as an intellectual godmother of Occupy Wall Street. Now the intellectual godmother of Occupy Wall Street will occupy the Senate committee that oversees it.
The Senate Democratic leadership is announcing today that Warren will be given a seat on the Senate Banking Committee. As Forbes put it recently, Warren’s ascent to the Senate alone was “Wall Street’s worst nightmare.” This could make that nightmare a good deal worse.
Warren’s appointment to the Banking Committee was expected; Ryan Grim broke the news some time ago. But today’s announcement will make it official.
This is going to give Warren a choice perch from which to continue to press the crusade for Wall Street oversight and accountability. And it continues a battle between her and Wall Street that stretches back literally years. Warren, a consumer advocate and expert in bankruptcy law, angered Wall Street when she pressed state attorneys general to demand a huge settlement from major banks and financial institutions they were investigating for improper foreclosure procedures. Warren was also the inspiration behind the Consumer Financial Protection Bureau, which produced one of the ironies of her career.