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Illustration: Sarah Grillo/Axios

Wall Street's fear of Elizabeth Warren puts its many never-Trumpers in an electoral pickle.

The big picture: Warren regularly aims her ire at professional financiers, whereas progressive rival Bernie Sanders is typically more generic in his "millionaires and billionaires" rhetoric.

  • Sources I spoke with are split on the depth of Warren's actual knowledge of financial markets. Some say she knows more than almost anyone else in D.C., while others say she knows just enough to be dangerous.

What they're saying: Warren worries were a persistent theme on the sidelines of a CNBC conference yesterday.

  • CNBC's Jim Cramer said earlier that the message he hears from Wall Street about Warren is that "she's got to be stopped."
  • Steve Rattner, the onetime private equity exec and Obama car czar, recently told MSNBC that his fellow Democratic donors have "enormous nervousness" about Warren.
  • Fox Business Network's Stuart Varney last week said: "Warren would force all big companies to take a lot of their profit away from shareholders. And it would be given to the workforce, the community, customers, the local and global environment, and community and societal factors (whatever that is)."

Worth noting:Assume Varney is also aghast at the 181 big company and Wall Street CEOs who signed onto the Business Roundtable's new mission statement.

The bottom line: This hand-wringing will intensify if Warren's polling momentum persists, but Wall Street ultimately will try figuring out how to best work with a possible Warren White House, rather than against it. After all, that's what it's largely done with Trump.

Go deeper: Elizabeth Warren's wealth tax could have slashed billionaires' fortunes

Go deeper

Biden confronts mounting humanitarian crisis at the border

Illustration: Eniola Odetunde/Axios. Photo: Pool/Getty Images     

Just over a month into his presidency, President Biden is staring down a mounting crisis at the border that could be just as bad as the ones faced by Barack Obama and Donald Trump, if not worse.

Why it matters: Immigration is an issue that can consume a presidency. It's intensely and poisonously partisan. It's complicated. And the lives and welfare of vulnerable children hang in the balance.

Erica Pandey, author of @Work
1 hour ago - Economy & Business

The rise of vaccine passports

Illustration: Annelise Capossela/Axios

Vaccine passports were touted early in the pandemic as an important piece of the plan to get people back to normal life. Now they’re becoming a reality.

Driving the news: CLEAR, the secure digital identity app that you see in airports around the world, and CommonPass, a health app that lets users securely access vaccination records and COVID test results, have joined forces.

"Vaccine tourism" stretches states' supplies

Illustration: Sarah Grillo/Axios

Americans who are highly motivated to get vaccinated are traveling across state lines after hearing about larger vaccine supplies or loopholes in sign-up systems.

Why it matters: "Vaccine tourism" raises ethical and legal questions, and could worsen the racial socioeconomic and racial inequalities of the pandemic.