POSTED BY ORHAN
On Wednesday Senate Democrats confirmed Elizabeth Warren’s seat on the Senate Banking Committee. Considering Wall Street’s crucial role in President Obama’s failure to appoint her to head the Consumer Financial Protection Bureau, and the humongous wads of cash the Street spent attempting to derail her Senate run, it will be interesting to see if Warren, named “Wall Street’s worst nightmare” by Forbes, will be able to effectively usher in the regulation the big banks so desperately need–and fear.
Stiff resistance by Republicans on the Committee is a given, but I’ll be most interested to see how Wall Street-beholden Democrats respond to her efforts. In any event, there is some irony in the fact that Warren will now be regulating the institutions that fought so hard and long to bring her down.