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Wed Nov 20, 2019, 06:54 PM

Wall Street fixates on Warren in 2020 market forecasts

https://www.crainsnewyork.com/markets/wall-street-fixates-warren-2020-market-forecasts

This is a very interesting article in that Elizabeth Warren is certainly scaring the right people.

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I visited an admittedly unscientific sample of three market-outlook conferences in the past week, and the Democratic presidential candidate’s name came up every time, mentioned either by a panelist or an audience member. Yet not once did anyone mention Bernie Sanders, Joe Biden, Pete Buttigieg or even Andrew Yang, nor was the potential re-election of President Donald Trump discussed as a market risk. I didn’t hear anyone bring up Michael Bloomberg either, though one supposes his presidency would be popular with the Wall Street crowd.
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Apart from whatever she might do, perhaps the biggest reason money managers and investors worry about a Warren presidency is she has a history of getting things done that Wall Street really doesn’t like.

First and foremost, she was instrumental in creating the Consumer Financial Protection Bureau and compromised to make it a reality.
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Before the Trump administration effectively neutered it, the CFPB was a tough regulator that forced credit-card companies and debt-collection firms to treat their customers fairly. But its greatest achievement was uncovering the sham accounts scandal at Wells Fargo. Wells’ reputation has never recovered, and regulators have put constraints on how much the bank can grow until management demonstrates it has its act together.
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