Why are the wolves of Wall Street so worried about Elizabeth Warren?November 8, 20192 min read
Elizabeth Warren started her campaign for the presidency far from being the front-runner. She trailed the likes of Joe Biden and Bernie Sanders dramatically, often in third place or worse and usually in single digits.
But her resolve stood, she provided plans and policy planks. And … she found a target and took aim at the wealthy.
All of her ideas that include costly policies about health care and education come with billion- and even trillion-dollar price tags.
Usually these concepts are laughed off the debate stage – but Warren carefully and strategically costed them out. And those covering the costs of her ideas are the banks along with the rich and wealthy.
Her ideas caught fire with supporters and now Warren is seen as a legitimate contender for the White House. It has some nervous and many taking notice.
It’s a role that Ms. Warren unabashedly embraces, as an increasing number of voters, as well as a few veterans of the finance industry, see her as the policymaker who can address the growing wealth gap in the United States and take on the corruption and excess in the business world.
Ms. Warren has made battling corporate greed and corruption a central theme of her fiercely populist campaign, mixing anti-elitist oratory with policy plans calling for sweeping new regulations. On Friday morning she released an ambitious proposal to pay for her “Medicare for all” program, with provisions directly affecting Wall Street: aggressive new taxes on billionaires, an additional tax on financial transactions like stock trades and annual investment gains taxes for the wealthiest households.
Just hours later she told an audience in Iowa: “Our democracy has been hijacked by the rich and the powerful.”
Interviews with more than two dozen hedge-fund managers, private-equity and bank officials, analysts and lobbyists made clear that Ms. Warren has stirred more alarm than any other Democratic candidate. (Senator Bernie Sanders, who describes himself as a socialist, is also feared, but is considered less likely to capture the nomination.) November 04 – New York Times
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