The Republicans should regret not letting Elizabeth Warren become head of the new Consumer Protection Bureau. If not for her, Scott Brown would have won. The other candidates would not have been able to raise enough money and volunteers to knock him off. Now the seat is in play, forcing the national party to divert a lot more money and effort to hold the seat. Brown is a hard-working and disciplined campaigner, has been shrewd in his votes, and has lots of appeal to the non-ideological part of the electorate. But people are mad, really mad, about the financial crisis and the bailouts, and are still looking a way to register their anger. Voting for Elizabeth Warren may be it.

In their heart of hearts, lots of Democrats wish Warren could somehow magically replace Kerry. She has passion, and somehow seems like she would really cares what happens in Massachusetts, as opposed to the current senior senator (D-Louisburg Square & Nantucket).

Why either party feels any obligation to defend the financial industry baffles me. But they both do it, to different degrees and in different ways.