Elizabeth Warren Gears Up to Battle Donald Trump

She’s preparing to fight to preserve Wall Street regulation and her favorite agency.


With Democrats reeling from the election, Sen. Elizabeth Warren (D-Mass.), who was one of the leading Trump-blasters of her party, vowed on Thursday to continue battling the president-elect—while adding that she would be delighted to collaborate with him on some of the populist issues he raised during the campaign. 

Speaking at the Washington, DC, offices of the AFL-CIO union federation on Thursday, in an event shown on Facebook Live, Warren declared, “If Trump is ready to go on rebuilding economic security for millions of Americans, so am I, and so are a lot of other people—Democrats and Republicans.” She noted that on the campaign trail, Trump had criticized Wall Street’s power in Washington and promised not to cut Social Security benefits—areas of common ground. But Warren, whom Trump derided as “Pocahontas” during the election, warned that if Trump tries to tear down the Dodd-Frank Wall Street reform law—which overhauled the financial industry after the 2008 meltdown—or to gut the Consumer Financial Protection Bureau, she would fight him “every step of the way.”

On Dodd-Frank, the war might have already begun. Trump’s transition website, GreatAgain.gov, went live on Thursday, and the entire “Financial Services” section focuses on eviscerating Dodd-Frank. “The Financial Services Policy Implementation team,” it says, “will be working to dismantle the Dodd-Frank Act and replace it with new policies to encourage economic growth and job creation.” Trump may have talked tough on Wall Street, but his crew is aiming to give Big Finance what is perhaps the No. 1 item on its wish list: killing Dodd-Frank. With the Republicans controlling both houses of Congress, preserving this chunk of President Barack Obama’s legacy could require a major effort on the part of Warren and her allies in and out of Congress.

Trump talks of draining the swamp in Washington, but on Dodd-Frank he is siding with the army of Wall Street lobbyists in the nation’s capital. And he could well do the same when it comes to the CFPB, the young agency that Warren inspired and that Dodd-Frank brought into existence. Republicans and Wall Streeters have been gunning for the CFPB since even before it opened its doors and began policing elements of the financial industry. If Trump’s early move against Dodd-Frank is any sign, Warren, to no one’s surprise, may find herself more often working against her campaign antagonist than with him.

THE TRUTH IS...

what drives Mother Jones' team of 50-plus journalists. The truth is powerful, as evidenced by how hard those with something to hide, or profit to gain, seek to discredit it. The truth, stated boldly and reported meticulously, is what draws so many readers to Mother Jones.

And the truth is, going into the final 4 days of the year we still needed to raise $TK to hit our $350,000 goal and start 2021 on track. It's nerve-wracking, wondering if the big spike we normally see at the end of December is going to be another thing that doesn't go as planned in 2020, or worse, if, now that Donald Trump is set to leave the White House (for longer than a taxpayer-funded golf trip to a property he owns), folks might be pulling back from fighting for the truth and a democracy and think the hard work is done.

It's not, and if you can right now, please consider a year-end donation to support our team's fearless nonprofit journalism so we can close that big fundraising gap and finish the year strong, ready for all that's ahead in 2021. Whether you can give $5 or $500, it all matters in keeping us charging hard, and we'd be grateful.

payment methods

THE TRUTH IS...

what drives Mother Jones' team of 50-plus journalists. The truth is powerful, as evidenced by how hard those with something to hide, or profit to gain, seek to discredit it. The truth, stated boldly and reported meticulously, is what draws so many readers to Mother Jones.

And the truth is, going into the final 4 days of the year we still needed to raise $TK to hit our $350,000 goal and start 2021 on track. It's nerve-wracking, wondering if the big spike we normally see at the end of December is going to be another thing that doesn't go as planned in 2020, or worse, if, now that Donald Trump is set to leave the White House (for longer than a taxpayer-funded golf trip to a property he owns), folks might be pulling back from fighting for the truth and a democracy and think the hard work is done.

It's not, and if you can right now, please consider a year-end donation to support our team's fearless nonprofit journalism so we can close that big fundraising gap and finish the year strong, ready for all that's ahead in 2021. Whether you can give $5 or $500, it all matters in keeping us charging hard, and we'd be grateful.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate