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Democratic candidate for the U.S. Senate seat for Massachusetts Elizabeth Warren addresses supporters during her victory rally in Boston, Massachusetts, November 6, 2012. REUTERS/Gretchen Ertl (UNITED STATES - Tags: POLITICS USA PRESIDENTIAL ELECTION ELEC
What's better than Elizabeth Warren winning her election? Elizabeth Warren serving in the Senate.
Senator-elect Elizabeth Warren isn't necessarily Wall Street's worst nightmare. No, it can get much worse for them, and should.
WASHINGTON, Nov 8 (Reuters) - The chances are good, but not guaranteed, that Elizabeth Warren will secure a highly coveted seat on the Senate Banking Committee, a move that would dramatically elevate her campaign against Wall Street excess.

Senior Senate Democratic aides, speaking on condition of anonymity, said the Massachusetts senator-elect is a logical fit for the committee, even though it is rare for a freshman senator to get such a plum assignment.

Logical fit? That's putting it mildly. Warren on the Banking Committee would mean that someone who knows the financial industry inside and out as an outsider would actually serve on the committee. She wouldn't have to rely on staff from the industry and lobbyists to educate her. What's more, her fellow committee members could learn from her experience and expertise.

She would also be in a position to fight for the reforms enacted in Dodd/Frank, largely left up to the regulators, making sure that those regulators don't water down the law. She'd also be in a position of power to fight legislative efforts to weaken it.

Warren on Banking would be a major blow to the influence the financial industry has over this critical committee. And that would be an extremely good thing.

And we can help make it happen. Please sign our petition to Harry Reid, asking him to make this critical appointment.

Originally posted to Joan McCarter on Fri Nov 09, 2012 at 12:46 PM PST.

Also republished by Daily Kos.

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