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November 7, 2012

Elizabeth Warren's Big Win Is A Crushing Defeat For Big Banks

 

 “One of Wall Street’s worst nightmares came true last night. No, not Barak Obama’s victory over Mitt Romney but Elizabeth Warren’s Senate victory in Massachusetts.

If you’re not familiar with Warren, here’s a quick briefer on her tense relationship with  Wall Street: She’s a former Harvard Law School professor, former White House official who served as a special advisor to the Secretary of the Treasury where she helped create the Consumer Financial Protection Bureau.”

Wall Street’s problems don’t end with Warren though. Dennis M. Kelleher president and CEO of Better Markets, a non-profit organization that focuses on financial markets, says the industry has been dealt a crushing defeat.

“Wall Street put hundreds of millions of dollars into defeating Warren, Obama and financial reform. They went all in. Today they have a much bigger problem,” Kelleher says.”

Read Halah Touryalai’s full Forbes article here 

 

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