Sen. Elizabeth Warren is not pleased that President Obama, once again, has called on a longtime Wall Street insider—especially one who has played a prominent role in controversial corporate “inversion” deals that allow U.S. companies to shed their nationality in the wake mergers—to take a powerful post at the Treasury Department.
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“The over-representation of Wall Street banks in senior government positions sends a bad message. 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. “
—Sen. Elizabeth WarrenWarren’s ire was raised by Obama’s nomination last week of Antonio Weiss, head of global investment banking for the financial giant Lazard, to become Under Secretary for Domestic Finance in his adminstration and the senator from Massachusetts said almost immediately that she would oppose the nomination. On Wednesday night, however, Warren made her disappointment—and not a little outrage—known in a piece published on the Huffington Post, saying that though she’s tried to “give deference” to the president over his choices for the economic team this latest choice goes too far. “Enough is enough,” she wrote.
Initiating her critique of Weiss on two major issues, Warren explained what makes his choice by Obama so troubling:
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