In my conversation with Ms. Warren she told me that one of the reasons she’s been pushing reinstating Glass-Steagall — even if it wouldn’t have prevented the financial crisis — is that it is an easy issue for the public to understand and “you can build public attention behind.”And yet, here she is in July 2015 introducing the 21st Century Glass-Steagall Act on the Senate floor using all the scary things that happened during the financial crisis as a backdrop.
She added that she considers Glass-Steagall more of a symbol of what needs to happen to regulations than the specifics related to the act itself.
We also know that reinstating Glass-Steagall is one of the five things she prioritized for Wall Street reform. One has to wonder if anything else on that list is "more of a symbol."
But perhaps most importantly, during the Democratic debate, both Sanders and O'Malley jumped all over Hillary Clinton for not including the reinstatement of Glass-Steagall as part of her own proposal for Wall Street reform. That's what happens when the patron-saint of "populist anger" toys with the public by using symbols to ratchet up an emotional reaction.
The basis for much of Elizabeth Warren's appeal has always been that she is both smart and sincere. This is the kind of thing that calls one or both of those things into question.