Elizabeth Warren Should Stay in the Senate [View all]

[Human101948]

Warren’s agenda is not Clinton’s agenda. Does anyone think that Hillary Clinton expects Wall Street to look fundamentally different at the end of a Clinton administration? Does she think that JPMorgan Chase should be downsized and broken up so that its current structure will not be recognizable in 2025? Does Clinton expect Wall Street to be doing half the trading volume in 2025 that it does today, so that the high-rollers will have to look to the productive economy to make big bucks? Does she think that some of her campaign’s biggest contributors will be in the jail cell next to Bernie Madoff?

That seems implausible. More likely, in Clinton’s vision Wall Street in 2015 looks pretty much the same as it does today. There may be better consumer and prudential regulation, but no one will have any problem finding JPMorgan.

In the Senate, Warren could force Clinton to alter her vision. Warren’s agenda has enormous power and popular appeal, as demonstrated by the success of the Sanders campaign and by Warren’s own success in pushing for the Consumer Financial Protection Bureau and other reforms. In fact, the popularity of a FTT even led Clinton to endorse a sham FTT that would apply only to high-frequency trading and would likely be avoided by almost everyone.

more at-- https://www.thenation.com/article/elizabeth-warren-should-stay-in-the-senate/