Wall Street’s Worst Case Scenario: Elizabeth Warren To Serve On Senate Banking Committee

Yeah, Wall Street is screwed.

Elizabeth Warren is the monster under the bed for Wall Street. Every night, the Masters Of The Universe slither into bed to dream of how many millions they’ll make tomorrow by fleecing Main Street and every night they check under their bed to see if she’s there with handcuffs and a warrant or, worse, a congressional subpoena.

They were so afraid of her joining Obama’s administration they waged a scorched earth war against her and her Consumer Financial Protection Bureau. They managed to block her appointment as top Wall Street cop, but they failed to stop the creation of the bureau itself. At least they got rid of Warren, right?

But then she ran for Congress against Wall Street’s favorite puppet, Scott Brown. Wall Street poured millions into one of the most expensive congressional races ever run and they lost. At least she’s just a freshman without any actual power, right? Right?! Please dear God don’t let her be appointed to the Banking Committee! The Wall Street titans might go into paroxysms of pain at the thought!

I’ve got some bad news for the banksters …

Via The Huffington Post:

Nearly two years after Wall Street waged a successful campaign to keep consumer advocate Elizabeth Warren from running the Consumer Financial Protection Bureau, the incoming senator will be tapped to serve on the Banking Committee, according to four sources familiar with the situation. It’s a victory for progressives who battled to win her a seat on the panel that oversees the implementation of Dodd-Frank and other banking regulations.

Just what is it that makes Wall Street so horrified at the idea?

  1. Elizabeth Warren is smart enough and educated enough to ferret out the kinds of fraud Wall Street regularly engages in.
  2. She knows the kind of questions to ask that banksters do not want to answer and she knows their business well enough to know when they’re lying.
  3. She can translate Wall Street double speak into plain English and expose it to the rest of the country. This ability is hard to overstate in its importance
  4. She really doesn’t give a flying frakk about hurting the feelings of Wall Street.
  5. She’s absolutely not in the pocket of anyone and no one has been able to find any dirt on her.

Essentially, she is the single worst person to have on the Banking Committee as far as Wall Street is concerned and they have no one to blame but themselves for putting her there. If they thought she would have made their lives difficult as the head of the CFPB, the amount of grief she’s going to cause them as a Senator is exponentially worse.

Just as an aside: Warren being put on the Banking Committee really should be more than enough to shut up the “both parties are owned by Wall Street” people. When Republicans question the Masters Of The Universe, it’s more like an audition for a post-congressional career. If the Democrats were just as corrupt, Warren would be appointed to the Ministry of Silly Walks and kept as far away from the banksters as possible. Let’s face reality, yes?

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