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Elizabeth Warren carries growing clout into her next big fights with Wall Street
Elizabeth Warren carries growing clout into her next big fights with Wall Street
1/18/15
The Republican-controlled House last week passed a bill that would ease Dodd-Frank rules and sent it to the Senate, one of several changes approved in recent days. The Massachusetts senator and her allies in the Democratic Party’s liberal wing, who have turned into a viable threat to Wall Street, insist they will do their utmost to derail all rollback efforts.
Divisions are expected to pop up, not only between Warren and Republicans in the new Senate majority, but between Warren and centrist Democrats, who view Wall Street firms more favorably.
“Elizabeth Warren is going to draw the line in the sand and moderate Democrats are going to have to decide which side they want to be on,” said Isaac Boltansky, an analyst at Washington financial services firm Compass Point Research & Trading, and a former Warren aide on the Congressional Oversight Panel.
...Republicans, now in control of both houses of Congress, plan an ongoing siege of Dodd-Frank. The House started early, using the first days of the new Congress to approve measures that would impact the law. One would delay until 2019 a part of the Volcker Rule, a key provision that bans banks from betting in financial markets with their own money. The White House has threatened a veto and its chances appear dimmer in the Senate, although elements of the bill may reappear.
Warren also likely will be forced to combat attempts to restructure the Consumer Financial Protection Bureau, the watchdog agency she conceived and that came out of Dodd-Frank.
Her influence appears to have spilled over into the House, where Democrats beat back Republican efforts last week to fast-track the legislation. It passed, but only after a roll-call vote.
“Elizabeth, given the prominence she has earned, is very well-positioned to frustrate [the GOP and Wall Street] by putting a spotlight on this,” said former Representative Barney Frank, the Massachusetts Democrat who helped craft Dodd-Frank.
But Warren faces political risks as she battles both Republicans and the White House. Efforts by her enemies to paint her as unreasonable could stick...
http://www.bostonglobe.com/news/nation/2015/01/18/elizabeth-warren-carries-growing-clout-into-her-next-big-fights-with-wall-street/HoY7EoSrJxdReLoML01W4I/story.html
1/18/15
The Republican-controlled House last week passed a bill that would ease Dodd-Frank rules and sent it to the Senate, one of several changes approved in recent days. The Massachusetts senator and her allies in the Democratic Party’s liberal wing, who have turned into a viable threat to Wall Street, insist they will do their utmost to derail all rollback efforts.
Divisions are expected to pop up, not only between Warren and Republicans in the new Senate majority, but between Warren and centrist Democrats, who view Wall Street firms more favorably.
“Elizabeth Warren is going to draw the line in the sand and moderate Democrats are going to have to decide which side they want to be on,” said Isaac Boltansky, an analyst at Washington financial services firm Compass Point Research & Trading, and a former Warren aide on the Congressional Oversight Panel.
...Republicans, now in control of both houses of Congress, plan an ongoing siege of Dodd-Frank. The House started early, using the first days of the new Congress to approve measures that would impact the law. One would delay until 2019 a part of the Volcker Rule, a key provision that bans banks from betting in financial markets with their own money. The White House has threatened a veto and its chances appear dimmer in the Senate, although elements of the bill may reappear.
Warren also likely will be forced to combat attempts to restructure the Consumer Financial Protection Bureau, the watchdog agency she conceived and that came out of Dodd-Frank.
Her influence appears to have spilled over into the House, where Democrats beat back Republican efforts last week to fast-track the legislation. It passed, but only after a roll-call vote.
“Elizabeth, given the prominence she has earned, is very well-positioned to frustrate [the GOP and Wall Street] by putting a spotlight on this,” said former Representative Barney Frank, the Massachusetts Democrat who helped craft Dodd-Frank.
But Warren faces political risks as she battles both Republicans and the White House. Efforts by her enemies to paint her as unreasonable could stick...
http://www.bostonglobe.com/news/nation/2015/01/18/elizabeth-warren-carries-growing-clout-into-her-next-big-fights-with-wall-street/HoY7EoSrJxdReLoML01W4I/story.html
2 replies
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= new reply since forum marked as read
Love it! 'bout time. 