Financial Watchdog Warren May Face Dilemma
August 23, 2011 by UPI - United Press International, Inc.
WASHINGTON, Aug. 23 (UPI) — Former Obama administration adviser Elizabeth Warren will have to walk a fine line as she tries to raise funds for a possible U.S. Senate bid, observers said.
Warren’s appeal to the left, forged during her work as the Troubled Asset Relief Program watchdog and as the developer of the Consumer Financial Protection Bureau, may not play well against her combative history with Wall Street as she tests a possible challenge to Sen. Scott Brown, R-Mass., The Hill reported Tuesday.
If Warren does run, she would have to decide whether to woo big-buck donors in the financial services community she rode herd over, analysts said.
“I think it’s pretty clear she’s going to run the classic, grassroots campaign here in Massachusetts,” said Mary Anne Marsh, a longtime Democratic operative in Massachusetts. “That means she’s going to rely on folks here to give low-dollar donations here a number of times.”
Marsh said Warren’s popularity among liberals would be sufficient in funding her Senate bid.
“I don’t think that money’s going to be an issue for her,” she said. “This is one seat they should win back if she’s a good candidate.”
Absent support of big-time donors in Massachusetts, Warren might have difficulty keeping up with fundraising efforts by Brown, who’s stowed away campaign cash in anticipation of a tight 2012 race, The Hill said. Brown reported having more than $9.6 million at the end of June.
Liberal groups aren’t waiting for an official announcement of Warren’s candidacy, the Washington publication said. The Progressive Change Campaign Committee said it raised $100,000 on Warren’s behalf.
An unofficial spokesman for Warren said she’s not focused on fundraising.
“Elizabeth’s main focus is traveling around Massachusetts, meeting people in their kitchens and living rooms, listening to their thoughts and discussing the issues important to them, not fundraising,” Kyle Sullivan said.