Boy, this is really looking like a concerted outbreak of performative fear. https://t.co/jnBlIypUJX
— Charles P. Pierce (@CharlesPPierce) November 4, 2019
So many Wall Street ‘Masters of the Universe’ have denounced Senstor Warren’s candidacy that it’s become a running joke — see NYMag‘s “Elizabeth Warren’s Growing List of Anti-Endorsements”. Not that she doesn’t have Wall Street fans, as well, per Vox:
On Wall Street, there are rich guys, and then there are very rich guys. And in the first camp, there are a surprising number who think an Elizabeth Warren presidency would not be the apocalypse.
“You know what I like about Warren? Warren doesn’t want my money, actually,” said one mid-level hedge fund executive who has already maxed out on his donation to the Massachusetts Democrat in the 2020 presidential primary. “My firm is great, but some people in the industry are scumbags.”…
I spoke with more than three dozen people from across the financial sector — professionals who work at hedge funds, big banks, and private equity funds, in asset management, financial advice, investment banking, trading, research, and compliance — who support Warren’s presidential bid. They know if she lands in the White House that may make their jobs a bit different, their companies a little less lucrative, or mean they’ll pay more in taxes. And they think that’s great. They support Warren because of her policies, not in spite of them.
“Even though, on a personal basis, Elizabeth Warren may be bad for me economically, she would be better for society, which I want my kids to grow up in,” a director at Citi told me…
The latest rash of performative outrage reminded me that I’d been meaning to share a certain historical anecdote. Via the Bill Moyers website, here’s an extract from Warren’s memoir A Fighting Chance:
In early April , I got a call from the office of Larry Summers. I didn’t know Larry well, but I’d met him a few times while he was president of Harvard in the early 2000s. According to reports, Larry had been Tim Geithner’s mentor when they were both in the Treasury Department in the 1990s. Now Larry was the director of the National Economic Council, which meant that, along with Secretary Geithner, he advised President Obama on economic issues. Would I be interested in meeting him for dinner?…
It was a long dinner, with plenty of intense back-and-forth about everything from the bailout, to deregulation, to the foreclosure crisis. I also talked to Larry about an idea I’d been working on for a new consumer financial agency and he seemed interested. We didn’t agree on everything, but I give Larry full credit: I’ll take honest conversation and debate any day of the week over the duck-and-cover stuff I so often saw in Washington that spring.
Late in the evening, Larry leaned back in his chair and offered me some advice. By now, I’d lost count of Larry’s Diet Cokes, and our table was strewn with bits of food and spilled sauces. Larry’s tone was in the friendly-advice category. He teed it up this way: I had a choice. I could be an insider or I could be an outsider. Outsiders can say whatever they want. But people on the inside don’t listen to them. Insiders, however, get lots of access and a chance to push their ideas. People — powerful people — listen to what they have to say. But insiders also understand one unbreakable rule: They don’t criticize other insiders.
I had been warned.
Nevertheless… she persisted!
Warren and her team, meanwhile, clearly see the attacks on her by Wall Street as a political boon for her campaign. So do some Democratic donors in finance — many we talked to refused to share their criticism on the record, fearing it would help Warren. https://t.co/aJXZOZ8SRV https://t.co/7nvVVRLZlM
— Lisa Lerer (@llerer) November 4, 2019
For @nytopinion (https://t.co/SKogXvIDaB), @SteveRattner expands on his "What scares the hell out of me is the way [@ewarren] would fundamentally change our free-enterprise system" argument, which he advanced in a @katekelly/@llerer piece a day earlier (https://t.co/g44HYNP1vJ).
— David Gura (@davidgura) November 5, 2019
"I ask you to judge me by the enemies I have made," FDR said. Elizabeth Warren's include the following good start:
– Steve Rattner
– Larry Summers
– Mark Zuckerberg
— laura olin (@lauraolin) November 5, 2019