This morning, Politico published an article highlighting the skepticism of some political analysts to the possiblity that liberal firebrand Sen. Elizabeth Warren (D-MA) would be a wise choice as Vice-President for presumptive Democratic nominee Hillary Clinton. While some on Wall Street have concerns over Warren's record as a fierce critic of the financial services industry, TRP's Jason Rosenstock asserted that the Massachusetts senator would be more of an asset to the Clinton campaign and Democratic Party by remaining in the Senate.
“In the current era of presidential politics, social media has allowed more people to assume the role of attack dog that was traditionally left to the vice-presidential nominee,” said Rosenstock. “Warren has shown an excellence in the platform that would allow her to help the campaign incredibly while maintaining her growing position of power in the Senate.”
Wall Street donors seek to block Warren VP pick
The progressive case for Warren holds that she would immediately energize the liberal base and bring Sanders voters into the fold. And Warren backers note that the senator has been an early and enthusiastic basher of Trump and shown a knack for getting under the presumptive GOP presidential nominee’s skin.
“Elizabeth Warren very effectively called out Donald Trump for cheering the Wall Street collapse because it would make him money — and that moment reminded Democrats how powerful Warren’s megaphone can be,” said Stephanie Taylor, co-founder of the Progressive Change Campaign Committee. “Whether it’s as vice president or as co-chair of the presidential transition committee, it’s hard to imagine Hillary Clinton not wanting a very large role for Elizabeth Warren at the table.”
But more moderate Democrats in the financial services industry argue that Sanders voters will come on board anyway and that Clinton does not need to pick Warren to help her win.
“We are going to win this. Trump shouldn’t be president and he isn’t going to be president,” said one senior executive at a Wall Street bank who is close to Clinton. “Picking Warren would indicate weakness and panic for no reason and make them look like they are running scared of Trump. There will be plenty of time to galvanize the left and get them to come out. And Warren would be a nightmare to try and manage.
Another argument against putting Warren on the ticket is that she can be just as effective a surrogate while maintaining her power base in the Senate.
“In the current era of presidential politics, social media has allowed more people to assume the role of attack dog that was traditionally left to the vice-presidential nominee,” said Jason Rosenstock, an analyst at Thorn Run Partners who covers the financial industry. “Warren has shown an excellence in the platform that would allow her to help the campaign incredibly while maintaining her growing position of power in the Senate.”
On the economic front, some moderate Democrats and financial executives worry that having Warren as vice president would poison relationships between business and the White House from the beginning of a potential Hillary Clinton administration.
These people say there is an opportunity for much better relations between business and the White House than during President Barack Obama’s tenure, as well as more effective deal making with Congress to avoid the kind of fiscal crises that damaged the economy the past six years. In addition to cutting deals on taxes and infrastructure, Wall Street worries about the return of the debt ceiling as a potentially big issue in 2016, as well as the return of sequester spending cuts.
“There is going to be a lot to deal with in the first 100 days, and I’m not sure going left and picking Warren would be particularly helpful,” said a top financial services lobbyist in Washington.
This Democrat, along with several Wall Street donors mentioned Kaine as the ideal vice-presidential pick. The Virginia Democrat comes from a key swing state, is fluent in Spanish, sits on the Armed Services Committee and is generally palatable to both progressives and more business-friendly Democrats.
“He checks every box,” the moderate Washington Democrat with close ties to the banking industry said. “You could see him step in as president, he is credible with the base of the party, and he’s also comfortable spending time with the rich people you need to raise money from.”