What could go wrong? 

One thing’s for certain — there’s a whole crowd of business people lining up to make sure it doesn’t happen:

A former Senate aide tells me that the banking committee staff does not like Warren and have begun to quietly campaign against her. Lobbyists are telling senior Democrats that Warren might be “more effective” on the Judiciary Committee, which does bankruptcy oversight.

The staff of the Banking Committee is extremely tight with lobbyists for the banks, many of whom are former members of that staff. The staffers and lobbyists socialize together, drink together, and sometimes even marry. They are elitists who think of themselves as a cut above other Capitol Hill aides. And they pretty much all want jobs at banks someday.

We probably won’t know for several weeks if efforts to keep Warren off Banking succeed. Reid reportedly won’t begin making committee assignments until the new year. But if, in the end, Warren doesn’t wind up on Banking, it will be a big win for the financial sector’s lobbyists.

Meanwhile, William Jacobson at Legal Insurrection is speculating that Warren will land a seat on the Judiciary Committee to oversee the confirmation of federal judges and any potential nominations for the Supreme Court.