|John Heltman, Victoria Finkle|
Gensler's pick is the first major personnel announcement for the Clinton campaign since formally announcing her bid and his first time back in the public eye since he left the CFTC in early 2014. His presence suggests Clinton could take a more progressive stance on big bank reform, closer to the views of Democrats like Sen.
"His selection will make progressives feel better about Hillary's campaign, and make reformers feel better about her campaign," said
Though Gensler is a former executive at
"He's a proven, fearless fighter for financial reform," said
Gensler also reportedly caused angst within the Obama administration, which saw him as too aggressive. It was widely reported ahead of his departure that Gensler had sought the Treasury Secretary nomination, ultimately losing out to then-
But Bair and others asked questions about what kind of policy role Gensler will play on the campaign itself. The CFO role for a presidential campaign is only vaguely defined, leaving it unclear if Gensler will have a hand in shaping Clinton's positions.
"Does this mean that people like
"Gary's exactly the type of person
But some analysts said Gensler would not have joined the campaign to just worry about finances. Instead, he likely sees it as an opportunity to have a real voice in policy, they said.
"You don't have someone with that much substantive knowledge — especially in the early days when staff is the leanest — and not have them used for understanding policy ramifications," said
Mills said that Gensler may view this as a chance to complete some of the reform efforts he was unable to accomplish at the CFTC.
"He viewed his work as unfinished in DC, so the best chance another Democrat has to get to the
Observers said Clinton, meanwhile, has almost all upside from choosing Gensler. Though he is popular with reform advocates, his
"He is the perfect reflection of exactly what the Clinton campaign is trying to do — walking that fine line in being progressive on financial issues to appeal to the Elizabeth Warren Democrats, but also sending a message to establishment that they get it," said Mills. "He's someone with a
|Copyright:||(c) 2015 American Banker. All rights Reserved.|
|Source:||Source Media, Inc.|