Sen. Elizabeth Warren Angling Anew for Wall Street. Big Banks Aren’t Thrilled
Sen. Elizabeth Warren in her 2020 presidential campaign is rankling financial industry executives.
In a recent interview with The Wall Street Journal, the Massachusetts Democrat reasserted her longtime animus toward how financial institutions are regulated.
“Banks exercise too much power in Washington,” she said. “One of the main things I’ve done is grassroots organizing to wave the flag and point out what’s going on here and get some political pushback. Otherwise Congress and the administration will just continue to work for the big banks.”
Among her earlier calls for reform includes banning Wells Fargo from university campuses.
One U.S. bank executive told The WSJ that Warren’s not acknowledging industry reforms and that she “still seems to be living in 2008-land.”
Another executive appeared more concerned. “She has this sort of applause line that we are all crooks…which is scary that you may hear that for a year and a half,” the executive said.
The WSJ suggests that Warren wouldn’t just reverse some of the changes made under the Trump administration—she may prove to be even “more adversarial” than the Obama administration.
Even if Warren doesn’t win the Democratic primary, should her financial platform resonate with voters, it could push other candidates to adopt some of her tenets.