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Wall Street nemesis Warren to join U.S. Senate Banking Committee

Dec 13 2012 Reuters

Wall Street critic and Senator-elect Elizabeth Warren will join the Senate Banking Committee next year where she is likely to be a loud voice in favor of tight financial regulation. The Democratic Steering Committee on Wednesday approved committee assignments for Warren and other Senate Democrats, installing Senator Patty Murray of Washington state as chairwoman of the Senate Budget Committee. Warren, a Harvard Law School professor who won a hard-fought election in Massachusetts, will now have a powerful platform from which to oversee banking regulation. The pick is a controversial one for the financial services sector, where many bankers have criticized her as an overzealous regulator bent on punishing Wall Street and who does not fully understand the financial system. She has called for the breakup of the largest banks and is expected to fight fiercely against Republican efforts to dilute reforms contained in the post-financial crisis Dodd-Frank Wall Street

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