March 30, 2016

What Does Elizabeth Warren Think Of Clinton’s Fundraiser With The “Most Powerful Woman On Wall Street?”

In the past, Elizabeth Warren has claimed that campaign donations and lobbying have influenced votes then-Senator Hillary Clinton took. In a 2004 interview, Warren maintained that Clinton was “persuaded” by the credit card industry to change her position on a bankruptcy bill because of their “millions of dollars in lobbying.”

If Warren was worried about Clinton as a Senator, then today’s Clinton fundraiser with former Morgan Stanley CFO Ruth Porat must have her positively quivering. It certainly has Bernie Sanders concerned.

The reason why Warren would be concerned about Porat’s ties to Clinton is that Portat was frequently described as the “the most powerful woman on Wall Street.” Additionally, during the financial crisis of 2008, she was the bank’s “point person” in their dealings with regulators and government officials. Porat even met with Warren to discuss the creation of the Consumer Financial Protection Bureau.

Warren has also been an outspoken opponent of the revolving door, saying “enough is enough when it comes to the revolving door between Washington and Wall Street.” Yet in 2013 Porat was under consideration for Deputy Treasury Secretary.

Ultimately, Porat withdrew herself from consideration, but not because she didn’t want the job. Rather she did not want to face the “heat and acrimony” her decades-long career on Wall Street would enflame. Plus, she “feared the Senate confirmation process would rip her to shreds”

In the past month, Warren has repeatedly dodged questions related to a Clinton endorsement, while praising Sanders’ “heart”. Clinton fundraising with a person described as “the most powerful woman on Wall Street” could be the final straw that causes Warren to start publicly feeling the Bern.