Has Elizabeth Warren defeated Wall Street?

[n2doc]

NEW YORK — Hillary Clinton recently went on Stephen Colbert's "Late Show" and said she's now prepared to bust up the big banks. If banks make too many risky investments, "they have to know — their shareholders have to know — they will fail."

But Clinton might not have to deliver that message. Neither will Bernie Sanders, who wants to go even further in reining in the banks. Nor will Republicans who are joining in the chorus.

Because under all this heavy pressure from progressives behind Sen. Elizabeth Warren (D-Masss.) on the left and populists like Donald Trump on the right — and the weight of new regulation and activist shareholders — Big Wall Street is already shrinking on its own.

The evidence is everywhere.

J.P. Morgan is selling off a chunk of its private equity business. AIG is contemplating breaking into smaller pieces. Goldman Sachs and Morgan Stanley are watching trading profits dwindle with no real clue if or when they will ever come back. Giant banks including Wells Fargo will now be required to raise around $120 billion in new capital. General Electric is getting out of the financial services business entirely.



Read more: http://www.politico.com/story/2015/11/elizabeth-warren-wall-street-215452#ixzz3qRRFPAr4

[JonLeibowitz]

1. A NYT article answers this readily

http://www.nytimes.com/2015/11/01/business/dealbook/arbitration-everywhere-stacking-the-deck-of-justice.html

The answer is clearly NO.