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Elizabeth Warren on the Senate Banking Committee

The Democrats are now busily nailing down the left end of the Overton Window by putting 2016 contender and fundraising star Elizabeth Warren on the Banking Committee:

U.S. Senator-elect Elizabeth Warren, the Harvard University law professor and critic of Wall Street, is poised to join the Senate Banking Committee after she’s sworn into office in January.

Two Democratic aides briefed on the matter said Senate leaders intend to assign Warren to the Banking Committee, although a final decision on committee assignments will not be made until the new session of Congress convenes.

There was a time when I would have been excited by this. So here are the litmus tests for Warren:

1. The Pecora Commision

2. Criminal prosecution of bankster CEOs for accounting control fraud.

Not likely, IMNSHO. It's really not about human-readable mortgage documentation, Professor Warren. It's about a criminal elite, and a political economy where the bad guys won.

Get off the Acela and look around. You'll see.

NOTE No doubt the pre-announcement has been carefully leaked to (a) shut the left up on gutting social insurance programs, and (b) to give Warren plenty of time to figure out what she has to say -- and what she has to promise not to do -- to actually get the job. Watching the demonstrations of fealty play out should be an edifying spectacle, though, as always, I'm happy to be wrong.

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