• ← Back to INVESTOR TIMES
  • Investing Articles
  • Financial Markets News
  • Tech News
  • Cryptocurrencies News
FREEDOM OUTPOST
No Result
View All Result
FREEDOM OUTPOST
No Result
View All Result
FREEDOM OUTPOST

Warren Leads Progressive Charge Against Obama’s Treasury Nominee

Freedom Outpost by Freedom Outpost
January 1, 2016
in News
0

In an act of war against Wall Street, Massachusetts Democratic Sen. Elizabeth Warren is furiously drumming up opposition to President Obama’s pick for an important Treasury Department position.

Nominee Antonio Weiss has donated money to the Democratic Party, authored a Center for American Progress paper calling for a massive tax hike on the rich and is the publisher of progressive magazine the Paris Review. He’s also the head of investment banking for a successful financial firm, Lazard.

His supporters argue his Wall Street experience better qualifies him to serve as Under Secretary for Domestic Finance, where he would oversee consumer protection, banking regulation and economic policy.

But progressive sweetheart Warren has vowed to vote against Weiss, saying he is one Wall Street pick too many. “[At] some point we have to recognize that there are other types of experience besides working on Wall Street that qualify people to do [these jobs],” Warren told a group of donors Sunday, according to Politico. At the same talk, she reportedly claimed that blacks and Hispanics were “targeted” during the sub-prime mortgage crisis.

She’s outlined concerns about Weiss specifically, such as his involvement in a high-profile corporate inversion and his international investment experience, but at the heart of her opposition is frustration with Democrats and the Obama administration for failing to take a harder line against Wall Street, and for allowing undue policy influence.

“The over-representation of Wall Street banks in senior government positions sends a bad message,” she wrote recently in the Huffington Post. “It tells people that one — and only one — point of view will dominate economic policymaking. It tells people that, whatever goes wrong in this economy, the Wall Street banks will be protected first.”

A number of Democratic senators, including current Majority Whip Dick Durbin, have stated their opposition to Weiss, and other progressives are following their lead. The Progressive Change Campaign Committee blasted an email Monday urging progressives to call members of the Senate Finance Committee and voice their opposition to Weiss.

“Since the election, we’ve been telling Democrats the way to win in 2016 is to stand for big, bold, progressive ideas that will benefit everyday Americans,” the email reads. “Filling this role with yet another investment banker — when Wall Street is already over-represented in senior government positions — is the exact opposite of that.”

Sheila Bair, former FDIC chair, also came alongside Warren in a Monday op-ed published by Fortune. “The real question is greater diversity in Obama’s appointments because it sure seems like the Wall Street Democrats are in charge,” she wrote. “Let’s face it, most of this Administration’s financial appointments have not pushed for fundamental change in the way Wall Street operates.”

The fight is a test of Warren and other progressive Democrats’ ability to pull the party further to the left, following its decisive loss in the midterm elections. It could also foreshadow how Hillary Clinton’s Wall Street connections will play in the 2016 Democratic primaries.

“The Antonio Weiss nomination has become a crucial moment in the fight for the future of this country,” progressive group Democracy for America wrote in an email blast reported by Bloomberg. “We cannot let Wall Street win.”

Weiss’s confirmation hearings will likely take place next year in a Republican-controlled Senate.

Source

Don’t forget to Like Freedom Outpost on Facebook, Google Plus, & Twitter. You can also get Freedom Outpost delivered to your Amazon Kindle device here.

Tagged with 

Antonio Weiss Democratic Party elizabeth warren obama administration Rachel Stoltzfoos Republican senate treasury department Treasury Nominees wall street
Previous Post

Alabama High School Football Team Baptizes Christian Converts – Anti-Theist Group Goes into Spasm

Next Post

HHS Mandate: Supreme Court Finally Rules in Favor of Hobby Lobby – But Against American Taxpayers

Next Post

HHS Mandate: Supreme Court Finally Rules in Favor of Hobby Lobby – But Against American Taxpayers

About Freedom Outpost

The content of this site has been restored on a non-profit basis to preserve knowledge and serve as a historical archive. All articles were originally published on freedomoutpost.com and belong to their respective authors.

Freedom Outpost was an independent journal published to cover vital public policy issues and offer a public service.

Search in the archive

No Result
View All Result

Latest posts

  • Taking Sides: The Christian's Responsibility in Civic Affairs II
  • EgyptAir MS804 Flight Attendant posted Picture on Facebook of Plane crashing a year before She Died
  • Blue Angels Marine Pilot Capt. Jeff Kuss Could Have Ejected Once He Knew His Plane Was Going To Crash…But He Didn’t
  • Man Jailed After Claiming to be ‘Transgender’ to Assault Women in Shelter
  • Trump: Democrats Against North Korea Summit Just Like They Defend MS-13 & Attack Tax Cuts

InvestorTimes.com

InvestorTimes.com is a privately funded financial publication particularly created for professional and personal investors and intellectually restless individuals.

Our raison d'être is to provide insightful information to any citizen willing to understand global economical markets and the most relevant current affairs.

Contact us: info@investortimes.com

WE ARE LOOKING FOR TALENT

INVESTOR TIMES is always open to the incorporation of talent in its team of journalists and editors. If you would like to be part of our project as a collaborator, we invite you to submit your application.

Contact us: talent@investortimes.com

INTERNATIONAL EDITIONS

Investor Times en Français

Investor Times in Deutsch

Investor Times in Italiano

Investor Times em Português

Investor Times po Polsku

Investor Times на русском языке

El País Financiero (edición en Español)

DMCA.com Protection Status

  • ← Back to INVESTOR TIMES
  • Investing Articles
  • Financial Markets News
  • Tech News
  • Cryptocurrencies News

© INVESTOR TIMES

No Result
View All Result


About Freedom Outpost

The content of this site has been restored on a non-profit basis to preserve knowledge and serve as a historical archive. All articles were originally published on freedomoutpost.com and belong to their respective authors.

Freedom Outpost was an independent journal published to cover vital public policy issues and offer a public service.

© INVESTOR TIMES