Elizabeth Warren hates Wall Street expect her to bring out the knives once shes back in power
Wall Street’s old nemesis on Capitol Hill is back — and she’s looking scarier than ever.Elizabeth Warren is known as the firebrand senator from Massachusetts among her lefty fans, many of them in the media.She’s also known as an obstructionist troll by her detractors, who include just about anyone who works in corporate America.Warren has always been a royal pain in the ass for bankers and wealth creators in general.
Jamie Dimon seeks common ground with just about everyone — even socialist NYC Mayor Zohran Mamdani, who this past spring affably sat and discussed public-private partnerships with the JPMorgan CEO.But Dimon finds it impossible to find any common ground — much less friendly dialogue — with Warren, I am told.And Warren likes it that way, banking sources reckon.“What does she bring to the table other than class warfare bull- s–t,” is how one CEO put it to me.
“She stands for nothing other than attacking success.”Warren would describe her role differently.I’ve covered her for years, including when she was an academic, a law professor at Harvard, where she appeared on financial TV discussions with me at my then-employer CNBC debating the 2008 financial crisis.I think I’m on solid ground surmising that Warren really “believes her own bulls–t,” as my old man would have put it.
She’s a full-on class warrior and she hasn’t changed her tune.That’s whether she’s in the minority or now, once again, in the majority and the all-but-certain head of the powerful Senate Banking Committee.Warren may not think Dimon is inherently evil, but she does seem to believe the banking business is evil and inherently so.
Banks in her mind are like mob bookies; they exist to skim an outrageous vig from clueless consumers.For that reason, bank bosses need to be handcuffed with massive regulations and hounded like criminals with endless hearings.Indeed, Dimon and his fellow travelers in the C-suites must be publicly bullied and vi...