HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » General Discussion (Forum) » After Spending $9 Million...
Introducing Discussionist: A new forum by the creators of DU

Wed Dec 5, 2012, 12:34 PM

After Spending $9 Million To Defeat Her, Wall Street Watches Sen-Elect Warren Join Banking Committee

The Huffington Post’s Ryan Grim reported Tuesday that Sen.-elect Elizabeth Warren, a dogged consumer advocate whose critique of Wall Street excess was a centerpiece of her campaign, will join the Senate Banking Committee. Wall Street spent boatloads of money to prevent Warren’s election, but now, as the Center for Responsive Politics noted, she will have oversight of the rules and regulations under which banks operate:


The securities and investments industry contributed just $245,000 to Warren and spent $3 million supporting her opponent Scott Brown, according to OpenSecrets data from mid-October. The industry was Brown’s top supporter.

The Financial/Insurance/Real Estate sector followed suit and contributed $6 million to Brown and a puny half-a-million to Warren.
Businesses also favored Brown heavily, and his top contributors came straight from Wall Street. And though there wasn’t much outside spending in the race because of a pledge made by the two candidates, the U.S. Chamber of Commerce, whose members include business and financial interests, spent $400,000 on the race in support of Brown and against Warren.

Several Senate candidates supported by Wall Street wound up losing. As a member of the Banking Committee, Warren will have the opportunity to stand against both the watering down of the Dodd-Frank financial reform law and new misguided efforts to reduce limits on Wall Street.

http://thinkprogress.org/economy/2012/12/04/1282461/wall-street-warren-banking-committee/

5 replies, 567 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 5 replies Author Time Post
Reply After Spending $9 Million To Defeat Her, Wall Street Watches Sen-Elect Warren Join Banking Committee (Original post)
Playinghardball Dec 2012 OP
Yo_Mama_Been_Loggin Dec 2012 #1
Whisp Dec 2012 #2
DreamGypsy Dec 2012 #3
Dalai_1 Dec 2012 #4
Fawke Em Dec 2012 #5


Response to Playinghardball (Original post)

Wed Dec 5, 2012, 12:40 PM

2. I love this person - she is absolutely wonderful

 

and true. There is no fakery to her. She is real.

She reminds me of the good qualities that Obama has - and he has a lot of them.

Warren 2016. yah.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Playinghardball (Original post)

Wed Dec 5, 2012, 12:46 PM

3. Yeah. Revenge is sweet...

...particularly when the only cost is a small campaign contribution.

Congratulations, Senator. Apply your wisdom, honesty, and compassion to help restore sanity to our financial sector.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Playinghardball (Original post)

Wed Dec 5, 2012, 12:47 PM

4. I think we will see

great things from her!
Thank you for posting this!

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Playinghardball (Original post)

Wed Dec 5, 2012, 12:50 PM

5. Sucks to be them!

Reply to this post

Back to top Alert abuse Link here Permalink

Reply to this thread