Wall Street braces for Warren run
12/20/14

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Big banks are unnerved by Sen. Elizabeth Warren's (D-Mass.) rise in Democratic circles, which is raising the prospect of her running for the White House.

Supporters who have launched campaigns to push her into the race as a rival to Hillary Clinton launched a protest in Warren’s name outside Citigroup's Manhattan offices on Thursday, which only added to the industry’s anxiety.

The demonstration came a week after Warren led a populist uprising against changes to the Wall Street reform bill that were included in the $1.1 trillion government-spending bill.

JP Morgan CEO Jamie Dimon was among those who lobbied for the tweaks, which represented a significant lobbying win for Wall Street.

Despite support for the package from the White House and Republican leaders, Warren nearly took it down — sending a strong signal of her influence on Capitol Hill.

...“The prospect of a Warren presidential candidacy increases the 'headline risk' concerns of large financial institutions,” said one banking lobbyist.

Equally jarring to Wall Street is the possibility that Warren could force Clinton to the left to appease progressives. Income equality has emerged as the number one issue on the left, and it is seen as a touchstone issue for Warren.

“Her message could play well with voters and could force Hillary to follow suit,” a second banking lobbyist said.

Republican strategist Chip Saltsman dubbed Warren’s rise as “a huge headache for Hillary.”

“This is going to move Hillary to the left,” said Saltsman, a former senior adviser to GOP presidential candidate Mike Huckabee. “Hillary is going to have to placate the Warren-wing of the party.”

Clinton, who also has not said if she will run for the White House, has already sent signals of concern about Warren....

http://thehill.com/policy/finance/227727-wall-street-braces-for-warren-candidacy