Elizabeth Warren: She’s Baaaaaack

Consumer advocate returns to Washington with new powers as senator.

Look out, Wall Street: She’s baaaaaack.

Elizabeth Warren, the Harvard professor and self-styled “cop on the beat” who protects consumers from Wall Street, left Washington last year after failing to gain enough Senate support to be confirmed as director of the new consumer financial protection agency she championed.

Still Strutting

“Wall Street CEOs -- the same ones who wrecked our economy and destroyed millions of jobs -- still strut around Congress, no shame, demanding favors, and acting like we should thank them,” Warren said at the convention. “Anyone here have a problem with that? Well I do.”

Not ‘Automatic’

“I don’t think it’s automatic” that Warren will serve on the Banking committee, Senator Jack Reed, a Rhode Island Democrat, said in an interview. He defended Warren, a professor of bankruptcy law, as “someone who has been immersed in serious study of the industry over a 30-year career.”

Community Banks

Camden Fine, president and CEO of the Independent Community Bankers of America, said Warren has cultivated ties to community bankers in part because she sees smaller banks that focus on deposit-taking and commercial lending as allies against Wall Street behemoths. He suggested that she might mellow some of her positions once she begins working in the chummy, clubhouse atmosphere of the Senate.

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