Warren campaign regains footing

There are perks that accrue to a Senate candidate who is also a top former financial regulator: when you call upon a failed banker to leave a government board, people around the country listen.

Elizabeth Warren has called upon Jamie Dimon–the embattled and soon to be former Chief Executive of J.P. Morgan Chase–to resign from the Board of Directors of the New York Fed.  Dimon oversaw a $2.3 billion trading loss and Warren publicly called for his resignation.  Her statement declared “We need to stop the cycle of bankers taking on risky activities, getting bailed out by the taxpayers, then using their army of lobbyists to water down regulations . . . We need a tough cop on the beat so that no one steals your purse on Main Street or your pension on Wall Street.”

Her demand has been picked up by media outlets all over the country, featured prominently in the Washington Post today, and ensures that conversations about Warren’s candidacy will compare her crusade against Dimon’s poor leadership and not the issue of her heritage.

This doesn’t happen simply because she’s a Senate candidate.  It happens because she has spent a lifetime working on issues of finance, regulatory oversight, and consumer protection.  She has a platform that few other politicians have on these issues.

Her opponents are likely to try to squeeze another week out of the story of her heritage.  They will increasingly belittle themselves if they continue to milk the issue beyond its natural shelf life.  Voters who are moved by that story have been so moved and her polling numbers don’t seem to have gone into the downward spiral some of her most ardent critics had hoped for.  With a well-timed call for Dimon’s resignation, I suspect her campaign will have regained some crucial footing.

About Peter Ubertaccio

Peter Ubertaccio is the Director of Joseph Martin Institute for Law & Society at Stonehill College in Easton and Associate Professor and Chair of the Department of Political Science & International Studies. His work focuses on political parties, marketing and institutions. He received his Ph.D. in Politics from Brandeis University in Waltham, MA. Professor Ubertaccio and his family live on Cape Cod where he is on the Board of Directors of the OpenCape Corporation and the Sandwich Economic Initiative Corporation.
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3 Responses to Warren campaign regains footing

  1. Laura Brown says:

    Compare our US Senator Scott Brown

    … making demands about Elizabath Warren’s ethnic background and essentially wondering aloud in an accusatory tone if she was ever an Aff Axn hire…

    … to Elizabeth Warren who knows $2 billion in losses on derivatives speculation by a Wall St investment firm known for being well run SIGNALS huge RISK to US taxpayers — that once again they may be on the hook to bailout banks in a financial crisis or watch the international financial system collapse.

    Which one is looking after your interests?

  2. Leo Bray says:

    Junior Brown has never represented the constituency, and never will. Occasional independent-seeming votes notwithstanding, he’s just a party-line money puppet. Of course he and his ilk will continue to focus attention away from the real issues; it’s what they do.

  3. Pingback: Of Catholics, Cherokees, and JP Morgan Chase | MassPoliticsProfs

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