Sen. Elizabeth Warren already has a new confrontation with her own party over Wall Street’s influence scheduled for early next year.
Following a major showdown with President Obama and Senate Majority Leader Harry Reid over the roll-back of a Dodd-Frank banking regulation included in the spending bill funding the government through September, the Democratic Massachusetts senator is set to challenge the administration’s nomination of a banker to a prominent position in the Treasury Department.
The nominee for undersecretary for domestic finance, Antonio Weiss, is the head of investment banking for Lazard, where he has worked on major mergers and acquisitions deals. Those include, recently, the deal that sent Burger King’s headquarters to Canada as part of a deal by the Canadian chain Tim Hortons.
That Weiss was involved in the most prominent example of a corporate "inversion," a tax-cutting maneuver involving merging with a foreign-owned company, was enough to raise flags among liberals.