If Elizabeth Warren runs for president, she could create headaches for Hillary Clinton in a Democratic primary.
Warren, a Democratic senator from Massachusetts who has become an avatar of the progressive left, has emerged this week as the chief foil to a spending deal reached by congressional lawmakers to fund most of the government through September 2015.
In particular, Warren has railed against a provision that would roll back some regulations on major financial institutions, safeguards that were put in place after the economy crashed in 2008.
“A vote for this bill is a vote for future taxpayer bailouts of Wall Street,” Warren said at a press conference with House members Thursday, MSNBC reported. “It is time for all of us to stand up and fight.”
Warren’s vocal opposition to the deal has put her at odds with Senate Democratic leaders and the White House, while aligning her with House Minority Leader Nancy Pelosi and Sen. Ted Cruz, R-Texas, who also oppose it, if for different reasons.
“Don’t follow her lead,” Sen. Lindsey Graham, R-S.C., said of Warren during a speech on the Senate floor Friday. “She’s the problem.”
If Warren has become a temporary thorn in the side of congressional lawmakers, the fight she has elevated could have more long-term political repercussions — in particular in the upcoming Democratic presidential primary.
Clinton, who is widely expected to run for president, has already faced criticism from Republicans and some Democrats for her close ties to Wall Street, including paid speeches she has delivered for Goldman Sachs and others.
In response, an increasingly vocal segment of the Democratic Party has urged Warren to step up as a challenger to Clinton. This week, the group MoveOn.org announced it would attempt to raise $1 million to lure Warren into the presidential race, and 300 former Obama campaign staffers signed a letter encouraging Warren to run.
So far, Warren has insisted she is not running for president. But, even if she does not, her aggressive posture toward the banking and financial industries could create more pressure for Clinton to take on these issues.
In addition to opposing the spending deal, Warren has panned the administration’s nomination of Antonio Weiss for a senior post at the Treasury department due to his ties with the banking industry.
Senate Democrats also recently named Warren to a newly created leadership position for the next Congress, which will give her a greater platform and a megaphone.
“I doubt this is the last we’ve heard of Sen. Warren on this issue,” said Jim Manley, a former senior aide to Senate Majority Leader Harry Reid. “I think she will be looking for other opportunities in the weeks and months to come to punish the big banks.”
