Biden’s Embrace of Warren World Poses Risks for Wall Street

Politico: “Warren’s expanding network in the upper echelons of the administration includes protégés who helped execute her aggressive oversight of big banks and other corporations as well as friends who share her views of the risks looming on Wall Street. But it goes beyond finance, covering pivotal posts at the Department of Education and even the National Security Council.”

“The Warren recruits mark a victory for the progressive movement, which has supported her years-long ‘personnel is policy’ campaign to chip away at the dominance of corporate insiders in setting policy for Democrats. Those who took on the fight with Warren say they’re pleasantly surprised it has produced so many results under Biden, reflecting a new emphasis on inequality and challenging corporate power. Industry lobbyists, in turn, warn that banks, private equity firms and consumer lenders should pay close attention.”