Elizabeth Warren won her campaign for Senate in Massachusetts by reaffirming the social contract and standing up for the "core of liberalism," she told The Huffington Post Wednesday morning.
Warren, energized by her victory but running on precious little sleep, is rare among Democrats in her willingness to talk about economic policies in terms of core values, and to defend liberalism -- even to use the dreaded term -- rather than run from it. The message has struck a chord, not just among self-described liberals, but among independent voters who feel that the system is rigged against regular people. It has also made her a lightning rod for conservative anger, and earned her the hostility of Wall Street.
Strong liberals who have gone to the Senate in recent years, such as Minnesota's Al Franken or New York's Hillary Clinton, put their heads down and focused on the internal workings of the upper chamber, which can fully occupy a freshman senator's time and largely remove him or her from the national conversation.
Warren, however, said she plans to continue making her case. "The Senate should be a place to talk about the issues that are important to people's lives. It's just that straightforward," she said in her first one-on-one print interview after her victory.
The heart of Warren's appeal is her insistence that politics is a contest of competing values. "We said this election is about whose side you're on," Warren said, summing up her campaign's message. "I think of this as an election where we stuck to our values: Make sure Social Security and Medicare benefits are protected, and millionaires and billionaires pay their fair share. To me, that's the heart of it. That's really where the basic social contract is reaffirmed. We said, 'We're gonna end subsidies for Big Oil and we're gonna make sure there's equal pay for equal work. Those were big issues here. Or, at least, I talked about them all the time."
Warren's commitment to protect the social contract will be put immediately to the test, as President Barack Obama and congressional negotiators go to work crafting a bargain to avert the so-called fiscal cliff: the expiration of the Bush tax cuts, as well as automatic cuts to defense and social spending.
The election saw a wave of liberal victories that signals a shift in direction toward the core values Warren argues for. In Maine, Minnesota and Maryland, voters for the first time approved marriage equality, which Warren said is part of liberalism's promise of equal opportunity and dignity for all people.
"This election was about making sure the United States, the federal government, honors equal marriage. This election was about opportunity, not for some, but for all, and that's the core of liberalism," she said.
The Harvard law professor and consumer advocate had narrowly been favored in recent days, as polls showed her with a slight lead over the incumbent senator. Her ultimate eight-point win bordered on a landslide, and makes her the first woman elected to the Senate from Massachusetts.
Warren was the intellectual godmother of the Consumer Financial Protection Bureau and was its first head. She was denied a permanent appointment due to objections from within the Treasury Department and from congressional Republicans.
Asked her plan for the first day after her historic victory, she said she's taking a moment to breathe. "I'm spending the day with family. Then I'm going to bed," she said.
Related on HuffPost:
Introduces Financial Product Safety Commission
Elizabeth Warren <a href="http://www.huffingtonpost.com/2009/03/10/financial-product-safety_n_173691.html" target="_hplink">announced</a> a bill creating a Financial Product Safety Commission with House and Senate Democrats in March 2009. The body was designed to have oversight over mortgages and other financial instruments to protect consumers against predatory practices. She said if the agency had existed before the subprime collapse then "there would have been millions of families who got tangled in predatory mortgages who never would have gotten them." HuffPost's Ryan Grim <a href="http://www.huffingtonpost.com/2009/03/10/financial-product-safety_n_173691.html" target="_hplink">reported</a>:
<blockquote>Without all these toxic assets on banks' balance sheets, the institutions wouldn't be on the brink of collapse and the recession would be more manageable. "Consumer financial products were the front end of the destabilization of the American economic system."
Sen. Charles Schumer's cosponsorship of the bill is notable because of his proximity to Wall Street. The bill's merit, the New York Democrat said, is that it regulates the actual financial product rather than the company producing it.</blockquote>
Geithner Opposes Her Heading CFPB
Tim Geithner expressed opposition to her nomination for the Consumer Financial Protection Bureau, <a href="http://www.huffingtonpost.com/2010/07/15/tim-geithner-opposes-nomi_n_647691.html" target="_hplink">reported</a> HuffPost's Shahien Nasiripour. Geithner thought Warren's views on the big banks and Wall St. were too tough. Warren's oversight of the Treasury department as a watchdog for TARP apparently irked Geithner, agressively <a href="http://www.youtube.com/watch?v=pz7ruJw6byQ" target="_hplink">questioning him</a> during Congressional hearings:
<blockquote>While her grilling of Geithner in September, over what members of Congress have called the "backdoor bailout" of Wall Street through AIG, inspired the "squirm" video, just last month Warren pressed Geithner on the administration's lackluster foreclosure-prevention plan, Making Home Affordable. Criticizing him for Treasury's failure to keep families in their homes, she questioned Treasury's commitment to homeowners.</blockquote>
Ready For A Fight
Elizabeth Warren <a href="http://www.huffingtonpost.com/2010/03/03/fight-for-the-cfpa-is-a-d_n_483707.html" target="_hplink">reiterated her desire</a> for a strong Consumer Financial Protection Agency to HuffPost's Shahien Nasiripour:
<blockquote>"My first choice is a strong consumer agency," the Harvard Law professor and federal bailout watchdog said in an interview with the Huffington Post. "My second choice is no agency at all and plenty of blood and teeth left on the floor."</blockquote>
Named Interim Chief Of CFPB
In September of 2010, HuffPost's Ryan Grim <a href="http://www.huffingtonpost.com/2010/09/13/elizabeth-warren-interim-cfpb-chief-consideration_n_715457.html" target="_hplink">reported</a> that Elizabeth Warren was being considered as a candidate for interim director of the Consumer Financial Protection Bureau. Days later the announcement was <a href="http://www.huffingtonpost.com/2010/09/15/white-house-taps-warren_n_715291.html" target="_hplink">official</a>.
The move allowed Warren to set up the groundwork for the agency immediately without risking a GOP filibuster of her nomination, a response that seemed certain giving the <a href="http://www.boston.com/news/nation/washington/articles/2010/09/15/opposition_mounts_for_interim_appointment/" target="_hplink">public opposition expressed</a> by some Republican senators.
When it came time to put forth an appointment for a longterm CFPB chief, Warren was overlooked, partially because she was seen as unfeasible, but also, HuffPost's Shahien Nasiripour <a href="http://www.huffingtonpost.com/2011/07/18/republican-opposition-to-elizabeth-warren_n_902165.html" target="_hplink">reported</a>, because she was a divisive figure within the Obama administration:
<blockquote>Ultimately, Warren wanted the job, allies said. And near-united opposition from Senate Republicans -- 44 of them signed a letter saying they'd oppose any nominee -- should have made it easier for Obama to nominate her, since the Republicans publicly said they wouldn't support anyone for the role.
Instead, the Republicans made it easy for the White House to deflect questions about the administration's lack of support for Warren.
Asked how she squared the administration's public statements with its private ones, Warren declined.
"I really have to say, I'm just not there. I'm not in the intricacies of the political part of this, and I can't comment," Warren said Monday. "The truth is I don't know anything about it."</blockquote>
Chats With HuffPost About Bureau
In October 2010, shortly after being tasked with building the groundwork for the CFPB, Warren stopped by HuffPost to chat with Ryan Grim and Shahien Nasiripour
"This is the first real agency we've built in the 21st century -- well, there's Homeland Security, but one for the people. And it means we ought to think differently," said Warren. "The government can talk to people and people can talk to the government differently than when the Consumer Product Safety Commission was built, or when the FDA was built. And if we do this right, that should change the whole dynamic of who this agency really is."
HuffPost's Ryan Grim <a href="http://www.huffingtonpost.com/2010/10/07/elizabeth-warren-consumer_1_n_754026.html" target="_hplink">reported</a>:
<blockquote>By gathering information, contracts and documents from homeowners and consumers, and allowing watchdog groups and individual concerned citizens access to those documents, the agency can exponentially expand the manpower it has to review the operations of banks and lenders. The goal would be to become aware of a particularly fraudulent practice before it is rampant and insulates itself in the financial services industry.</blockquote>
For full video of the interview, click <a href="http://www.huffingtonpost.com/2010/10/07/elizabeth-warren-consumer_1_n_754026.html" target="_hplink">here</a>.
GOP Calls Her A Liar
In May, Warren was called to testify before a House subcommittee and defend the merits of the CFPB. Some of the questions submitted by Republican representatives appeared confused and at times aggressive, leaving Warren to correct them on some basic facts about the actual purpose of the bureau. HuffPost's Mike McCauliff <a href="http://www.huffingtonpost.com/2011/05/24/elizabeth-warren-liar-gop-facts-cfpb_n_866505.html" target="_hplink">relays</a> one particularly contentious moment: <blockquote>The subcommittee chairman, Rep. Patrick McHenry (R-N.C.), began the proceedings by suggesting Warren had lied to the committee in a previous hearing that had questioned the CFPB's role in offering advice to state attorneys general negotiating a settlement with abusive mortgage servicers. At the time, Warren said she was proud her agency had been able to help, at the request of the treasury secretary. But McHenry brought up the memo again, suggesting it showed that she hid a larger role in the negotiations from Congress. "This is our job, and we're trying to do our job, to be helpful to other agencies, and to help those agencies to hold those who break the law accountable," Warren said, repeating that she was proud of the work.</blockquote>
Announces Senate Run
Elizabeth Warren <a href="http://www.huffingtonpost.com/2011/09/13/elizabeth-warren-senate-massachusetts_n_960510.html" target="_hplink">announced</a> on September 14, 2011 that she was running for the United States Senate seat currently held by Scott Brown (R-Mass.)
"After listening to people all across our state who know that we can do better, folks who are frustrated like I am that Washington just doesn't get it, I'm running for the Senate so I can fight every day for Massachusetts families," Warren <a href="http://www.huffingtonpost.com/elizabeth-warren/senate-announcement_b_961624.html" target="_hplink">wrote on The Huffington Post</a>.
Fundraising
One month into her campaign to secure the U.S. Senate seat currently held by Scott Brown in Massachusetts, Elizabeth Warren raised $3.15 million, largely <a href="http://www.huffingtonpost.com/2011/10/10/elizabeth-warren-raises-3_n_1003836.html" target="_hplink">from small donations</a>. According to a campaign email, 96 percent of donations were under $100.
"These are pretty amazing numbers for our first official finance report, raised in a very short period of time," she said in an email to supporters.
Warren's campaign has also attracted <a href="http://www.huffingtonpost.com/2011/10/18/elizabeth-warren-builds-s_n_1018334.html" target="_hplink">large liberal donors</a>, including colleagues from Harvard and well-known liberal donors like George Soros, Barbra Streisand, and DreamWorks CEO Jeffrey Katzenberg.
Warren <a href="http://www.huffingtonpost.com/2012/01/11/elizabeth-warren-scott-brown-fundraising_n_1199680.html " target="_hplink">raised</a> an impressive $5.7 million in the fourth quarter of 2011. In early January, the candidate's <a href="http://www.huffingtonpost.com/2012/01/16/elizabeth-warren-money-bomb-fundraising_n_1208511.html?ref=mostpopular" target="_hplink">money bomb</a> pulled in more than $100,000 in just one weekend.
Historic Agreement
Elizabeth Warren and Sen. Scott Brown (R-Mass.) <a href="http://www.huffingtonpost.com/2012/01/23/elizabeth-warren-scott-brown-attack-ads_n_1223574.html" target="_hplink">signed a pledge</a> to curb third-party attack ads. If either campaign breaks the agreement, they would donate half the cost of the outside ad to a charity of their opponent's choice.
"This may not work," <a href="http://www.politico.com/blogs/david-catanese/2012/01/warren-this-may-not-work-112119.html" target="_hplink">Warren said in an email to supporters</a>. "But there's enough at stake to make it worthwhile to try to take back this election."
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