After piece appeared on Politico yesterday, many people watching the presidential race from the vantage of Wall Street took a few moments to absolutely lose their sh!t . "Wall Street donors seek to block Warren VP pick," was a fun collection of anonymous quotes from finance sector power players issuing "warnings" to Hillary about picking Red Lizzie as her running mate.
For example there was this quote from Tony James "One prominent hedge fund manager who has raised millions for Hillary Clinton and Bill Clinton before her":
“The absolute predicate for a vice presidential nominee is they have to understand they are No. 2 both during the campaign and once you take office, and I just don’t think Elizabeth Warren is that type of person.”
And this from another lefty Wall Streeter:
If Clinton picked Warren, her whole base on Wall Street would leave her… They would literally just say, ‘We have no qualms with you moving left, we understand all the things you’ve had to do because of Bernie Sanders, but if you are going there with Warren, we just can’t trust you, you’ve killed it.’”
But these rich, faceless Democrats are yelling about nothing. It's nice that they feel secure enough to share their opinions, but they should take a moment and realize that there is one person more loathe than even them to put Warren on the ticket: Hillary Rodham Clinton.
It makes total sense that Clinton and Warrend don't get along since they are the standard bearers for polar ends of their party. So why would Hillary want to deal with the headaches of appeasing the Warren Wing when she straight-up doesn't even have to? It's not as if Warren helps Hillary with women or locks down the notorious swing state of Massachusetts. In fact, the only thing that Warren potentially does is help to heal the Bernie Sanders-sized fracture that occurred during the (technically still-happening) Democratic primary.
But let's be honest with ourselves for a moment. Hillary isn't running against a compelling centrist who could play on the libertarian bent of some self-professed liberals, she's running against Donald J. Trump. Are Sanderistas really going to abandon Hillary for a guy who says this?
Trump is a human abyss on the edge of the American political psyche, daring voters unsure about Hillary to leap in and see what happens. Even without the title of running mate, Elizabeth Warren is telling those voters not to risk it.
Because of things Trump has already said or done, Hillary can already count on the votes of African-Americans, Latinos, women and now - apparently - Florida. For decades, the Clinton brand has been hated for Bill and Hill's almost pathological instinct to swing to the center. But suddenly, that vaguely venal behavior looks normal by comparison.
And Warren does nothing to change the tired-ass narrative of "Hillary is Too Close To Wall Street." She is, and that's why she has about $41 million more cash on hand than Trump does right now. Picking Warren would put a crimp in that open relationship and give Trump the faint possibility of closing that fundraising gap by even a few million.
But perhaps the biggest irony that this Clinton/Warren will they/won't they presents is that Bernie supporters and Wall Street donors are now essentially in the same Hillary-shaped boat. The former can't ideologically not vote for Hillary and the latter can't afford to invest in the uncertainty of Trump. With that in mind, Hillary can totally justify hanging out Warren as a sword of Damocles over the head of Wall Street and then telling Bernie Bros to go f@ck themselves when she announces Tim Kaine as her running mate.
And Hillary is already making it clear that she can do liberal all by herself. During a speech today in Ohio designed to be her first major attack on Trump, Clinton managed to take a shot at the TPP, praise the CFPB and hammer Trump on his tax breaks for hedge fund guys (like her son-in-law). With rhetoric like that, Hillary can easily stroke her left flank without actually putting Warren in a position to speak for her campaign, or her administration.
So Wall Street bundlers should save their breath. Worrying about a future in which the Vice President is a viciously outspoken critic of your business is not a reality that makes much political sense. Especially considering that it would be bad policy for a sitting Vice Preisdent to say the things about American financial institutions that Elizabeth Warren does. Throwing shade and negative attention alongside constant threats of tighter regulation would have a terrible impact on market liquidity and create a genuine self-made hurdle for Hillary's first term. The job would force Warren to blunt her attacks on The Street.
Actually, come to think of it, there's one other person who hates the idea of Vice President Elizabeth Warren more than Wall Street: Elizabeth Warren.