OVERNIGHT FINANCE: White House steps up trade fight with Warren

TOMORROW STARTS TONIGHT: IT’S ON – – OBAMA VS. WARREN: President Obama offered a blistering critique attacking Sen. Elizabeth Warren’s (D-Mass.) credibility on Saturday in an interview with Yahoo News. Obama said that “she’s absolutely wrong” in opposing his bipartisan trade agenda. Warren fought back hard in an interview with liberal blogger Greg Sargent earlier this afternoon:

— WHAT WARREN SAID, via Sargent: “The president has committed only to letting the public see this deal after Congress votes to authorize fast track. At that point it will be impossible for us to amend the agreement or to block any part of it without tanking the whole TPP [Trans-Pacific Partnership]. The TPP is basically done. If the president is so confident it’s a good deal, he should declassify the text and let people see it before asking Congress to tie its hands on fixing it.” Read her interview with the liberal blog: http://wapo.st/1E2z9DM

{mosads}– OBAMA’S STRIKE, via Yahoo News: “The truth of the matter is that Elizabeth is, you know, a politician like everybody else… On most issues, she and I deeply agree. On this one, though, her arguments don’t stand the test of fact and scrutiny… The notion that I had this massive fight with Wall Street to make sure that we don’t repeat what happened in 2007, 2008. And then I sign a provision that would unravel it? … This is pure speculation [by Warren]. She and I both taught law school, and you know, one of the things you do as a law professor is you spin out hypotheticals. And this is all hypothetical, speculative.” Full story, via non-partisan Yahoo: http://yhoo.it/1cARAdq 

Plus, The Hill’s Jordan Fabian on the growing feud: “The White House on Monday amplified its criticism of Sen. Elizabeth Warren (D-Mass.), accusing her of spreading false information about President Obama’s trade agenda. ‘There is no need for this false criticism that members of Congress aren’t aware of what’s being negotiated,’ press secretary Josh Earnest said Monday.” …

“Earnest said Warren and other lawmakers are able to read the current text of the trade agreement in a secure viewing area in the Capitol building. ‘If they are not aware of what’s being negotiated, it’s because they have failed to take responsibility for reading the document that we provided to them,’ he said. http://bit.ly/1GZvmJi

— FLASHBACK, via Rep. Scott Peters (D-Calif.) to me in March: “I have great respect for Sen. Warren — she’s a tremendous leader. My own preference is to create a message without bashing businesses or workers, [the latter of which] happens on the other side.” http://bit.ly/1AvTAHe 

THIS IS OVERNIGHT FINANCE, where we never jump the gun — we just call it like we see it. Hope you had a great weekend. I ventured down south to explore rural Virginia. Great weather. Great running trails. Tweet: @kevcirilli; email: kcirilli@digital-staging.thehill.com; and subscribe: http://digital-staging.thehill.com/signup/48 Back to work…

COMING TOMORROW TO THE HILL: BIG BANKS WEIGH-IN ON BERNIE SANDERS. My latest at 6 a.m.: Wall Street is worried that Sen. Bernie Sanders’ (I-Vt.) vigorous calls for banking industry reform will pull Hillary Clinton to the left, as the two presidential candidates battle for the Democratic nomination. 

MY TAKE ON 2016 for Capital Insider via NC8: http://bit.ly/1dY7mzq Plus… does Gov. Chris Christie (R-N.J.) still have a chance? My take for Fox News: http://bit.ly/1HaBnWm My take for Andrew Busch on transparency at the Federal Reserve: http://bit.ly/1RwA7T3

Let’s drink…

JEB HENSARLING ON OFFENSE: SUBPOENAS ADMINISTRATION OFFICIALS. My scoop from Friday night at 8:12 p.m. (I swear I have a life)… House Financial Services Committee Chairman Jeb Hensarling (R-Texas) will issue subpoenas Monday to administration officials that he says are stonewalling his committee. Hensarling wrote in a Wednesday letter to Rep. Maxine Waters (D-Calif.), the top Democrat on the panel, that he plans to subpoena officials at the New York Federal Reserve, the U.S. Department of Justice and the Treasury Department for three separate instances.

— HENSARLING TO WATERS: Hensarling told Waters in a letter first obtained by The Hill that the subpoenas are a last resort “in light of the unprecedented and extraordinary stonewalling demonstrated by these agencies resulting in unfulfilled Committee requests… I am left with no reasonable alternative.”

— WATERS TO HENSARLING: Waters called it “characteristically undemocratic” to issue the subpoenas without a Committee vote. “I find this determination unpersuasive at best… I am aware of numerous efforts made by the agencies to meet your demands for documents and information,” Waters wrote. My storyhttp://bit.ly/1In8nxu

ON-TAP FOR TOMORROW: New York City Mayor Bill de Blasio and Sen. Elizabeth Warren (D-Mass.) are having a presser at the Capitol to announce a progressive economic agenda.

MARK YOUR CALENDARS: FED SETS SCHEDULE. Ben Leubsdorf for WSJ: http://on.wsj.com/1IuKeoP

SMALL BIZ GROWING WEARY ON ECONOMY, via Bernie Becker: “Small business owners became less optimistic about their situation over the last three months, according to new data from Gallup. But even with that slight decline, Gallup found that small businesses were more confident this year than at any point since January 2008 – the year the fiscal crisis hit.” http://bit.ly/1cqTwo4

MILLENNIAL MATTERS, via Rebecca Shabad: “Millennials have surpassed Generation X this year to become the largest share of the U.S. workforce, according to Pew Research Center data released Monday.” http://bit.ly/1RwCTrE

DAYS UNTIL EX-IM SHUTS DOWN: 49. And the U.S. Chamber of Commerce is out with an ad blitz defending the Export-Import Bank, which Congress must reauthorize before June 30 or it shuts down. You already know: Republicans are divided. Tea Partiers say it’s cronyism. Biz community says it helps sustain jobs. Nick Timiraos for WSJ: “The U.S. Chamber of Commerce will launch a multistate advertising push exceeding $1 million on Monday to build support for renewing the charter of a financing arm of the U.S. government that is a top target of conservative Republicans.” http://on.wsj.com/1dXaYBN 

— Freedom Partners Spokesman James Davis: “The U.S. Chamber of Commerce’s position places them shoulder to shoulder with Hillary Clinton and squarely against the American people and free market leaders.”

Write us with tips, suggestions and news:  vneedham@digital-staging.thehill.compschroeder@digital-staging.thehill.combbecker@digital-staging.thehill.com; rshabad@digital-staging.thehill.com; kcirilli@digital-staging.thehill.com.

–Follow us on Twitter: @VickofTheHill@PeteSchroeder@BernieBecker3; @RebeccaShabad and @kevcirilli.

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