Elizabeth Warren's political appeal is built on the notion that she is a far let progressive hell-bent on destroying the very foundations Wall Street to rebuild an American economy based on neo-socialism and community banks offering zero-rate loans to every farmer and incense store owner.
Elizabeth Warren's political career has been so successful because so many prominent people in finance keep making a public show of pretending that it's true.
There are real socialists in the Democratic party today, and they are being represented in the 2020 campaign by Bernie Sanders. The Vermont senator has actual policies that would, in fact, fundamentally shake Wall Street and - if properly implemented - break and reshape many of the institutions that hold real power in our financial system. Sanders crusade to forcibly redistribute wealth is an actual existential threat to Wall Street and its billionaires, but Bernie is never ever going to win, so the Lords of Finance are choosing to lash out at Warren over Bernie's platform, which is the definition of self-harm.
Warren is, in actuality, a free-market capitalist with a center-left stance on regulation and a borderline far-left belief in how capital should flow. We are not arguing that a Warren presidency would be of no consequence to the financial industry, but it would be much closer to the Obama years of overweening government interference than actual socialism. If anything, Warren's focus areas are seen by many on the street as pushing organic upheavals in the industry up a few years. Sure, President Elizabeth Warren would suck for hedge fund managers in comparison to the wildly hands-off/unsubtle appeasement approach that Donald Trump has taken to the financial sector, but aren't we all aware at this point that these things are cyclical.
At this point in the primary, Warren's two biggest concerns are being able to articulate her message without scaring off the far left of her own party while appeasing the center and majority of it; the voters who just want someone to beat Trump. Holding that balance for the next ten months is going to be extremely hard for Warren, and she'll need help convincing the Bernie Bros that she's not really just a moderate with some lefty stank on her. Help like this:
“What is wrong with billionaires? You can become a billionaire by developing products and services that people will pay for,” said Leon Cooperman, a billionaire former Goldman Sachs executive who is now CEO of investment firm Omega Advisors and who predicts a 25 percent market drop should Warren become president. “I believe in a progressive income tax and the rich paying more. But this is the fucking American dream she is shitting on.”
For Elizabeth Warren to keep the AOC wing of her own party close enough to build a coalition general election campaign, she's going to need a lot more septuagenarian billionaire Goldman Sachs alums in what are definitely not toupees to yell on the record that she scares the shit out of them. And the more nutty cursing about the stock market not opening if she's elected or "the fucking American dream" being about billionaires who hate paying taxes is just bonus help.
Warren has been saying some pretty inchoately threatening things about regulating the tech industry on the campaign trail as well. And do you know what those messy drama queens in Silicon Valley have done about it? Contributed to her campaign and shut the fuck up.
If Warren does win the presidency, she'll need as many allies in the private sector as any president does [that's how this all works], and while she will maybe harder to leverage than her predecessors, money always starts a conversation. If Leon Cooperman keeps this up and gets friends to join him, they're just giving Warren the sort of in-kind contributions that get her elected and make her unreachable in the White House.
Elizabeth Warren's political appeal is built on the notion that she scares guys like Leon Cooperman. If he wants to stop her from being the leader of the free world, maybe Leon Cooperman should stop telling everyone that he's so scared.