Big banks blow it

Sen. Elizabeth Warren (D-MA) is really a burr under the saddle for Big Banks.   Her relentless pressure for separating investment and banking services and for more effective regulation of bank fees on credit cards must be hitting the mark.

Now banks have decided to retaliate.   The problem is that they are in such a bubble -- and have such ineffective PR advice -- that they've only succeeded in proving all the criticism.   

Their solution to this Warren gadfly that's annoying them?   Threaten to withhold campaign donations to Senate Democrats.     Sure, it would reduce a few campaign war chests;   but it also just proclaims the problem better than any Democratic ads that could be purchased with Big Bank dollars.  This tactic screams loud and clear:   "We can -- and will -- buy your support."

So, of course, Democrats will have to prove them wrong.   At least, let's hope that is their response.   Hillary, are you listening?

Former Gov. Martin O'Malley, who plans to contest Clinton in the Democratic primary, sounded his populist appeal with this statement on ABC's This Week:

"It’s as if Wall Street owns one party, and is trying to totally intimidate the other party. And we need to stand up and put the national interests first. If we do that, we can restore our economy."

That is an important debate that should be part of the Democratic primary process, especially given that our presumed nominee (Clinton) is already thought to have a cozy relation to Wall Street.    Maybe O'Malley will take up the Elizabeth Warren agenda on the debate stages.    Put Bernie Sanders up there too, if Elizabeth persists in not running.   There could still be some interesting debates.

Ralph