A coalition of left-leaning activist groups has launched a new campaign to bring about policy changes they say will protect consumers from the worst excesses of Wall Street, but so far the U.S. Chamber of Commerce is less than impressed.

More than 20 groups announced Tuesday the "Take on Wall Street" campaign to "build a financial system that works for Main Street and working families, not just Wall Street billionaires." Among the changes the group is seeking: elimination of the carried interest tax loophole and the creation of a Wall Street speculation tax to help fund college education and infrastructure projects.

"We are in this fight because someone has to be willing to fight back. And that someone is us," Sen. Elizabeth Warren (D-Mass.) said in a statement.

Along with Warren, the coalition is composed of liberal media entities such as Daily Kos, environmental organizations like Friends of the Earth and labor unions such as AFL-CIO.

So far, most of coalition's activities have been limited to a website in which it encourages users to sign a petition to be notified of future campaigns. takeonwallst.com

Still, the group's creation was enough to prompt the Chamber to issue a response accusing the groups of recycling "bad ideas that have been tried before and failed."

"We need to stop the partisan sniping, and rally around pro-growth plans that can benefit all Americans," said David Hirschmann, CEO of the Chamber's Center for Capital Markets Competitiveness. "Rather than pitting one group against another, we should put in place policies that unleash entrepreneurs and empower American ingenuity to bring in a new era of prosperity."

Hirschman singled out Warren for criticism, accursing her of "turning her back on principles put forth by President Kennedy to unleash growth and democratize America's capital markets."

"The stakes are too high this election season and we need to have a debate of ideas, not a worthless witch hunt," he said. http://uscham.com/1TGElsa

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