In an interview with Lawrence O’Donnell, Elizabeth Warren uncorked an extensive response to that comically dishonest ad from the Rove-founded Crossroads GPS attacking Warren as too cozy with Wall Street. Her answer is worth quoting at length, because it suggests she will respond to these outside attacks by pivoting the focus back to where it belongs: On Wall Street.

Warren mocked the ad’s claim that she’s cozy with Wall Street, and made the salient point that the ad is being funded by wealthy interests that don’t want to see her anywhere near the Senate. She seized on Karl Rove as a convenient foil, to retell the story of the Bush administration and its role in exacerbating the lack of Wall Street accountability that’s become the rationale of her career and candidacy:

Their strategy now is the kitchen sink strategy. Throw everything you can at her and let’s see what happens.

Let’s keep in mind what was going on just a little over three years ago. Karl Rove was part of the inner circle while George W. Bush is telling Congress and the nation, `we’ve gotta bail out the big financial institutions.’ His Secretary of the Treasury is handing out money to the largest financial institutions — no strings attached. I go down to Washington and I’m calling them out for it. I’m calling them out on executive bonuses. I’m calling them out on the fact taht tehy’re giving this money, no strings attached. And I get attacked for it. Okay.

Then we roll forward three years. Now Karl Rove takes money from Wall Street, in order to attack Elizabeth Warren for being cozy with Wall Street?

This one goes beyond anything I’ve ever imagined. I’m just amazed. It leaves you speechless.

It would be folly to imagine that these ads won’t have an impact on Warren. If Crossroads and other groups are willing to spend truly huge sums to keep Warren out of the Senate, Dems worry, she very well might find herself outspent, particularly if labor and outside groups on the left don’t step up and match the outside right wing spending. Right now Warren is keeping pace by mounting her own unusually early and aggressive ad blitz, with a six figure statewide buy supporting a one-minute biographical spot designed to prevent groups on the right from defining her on their terms. Over time, however, if a persistent spending disparity develops and the massive negative ad blitz continues, it could drive up her negatives, and the right is showing that it will throw everything it has at her.

But Warren seems determined to hit back hard, and to seize on these attacks to reframe the race on her own terms — as her versus Wall Street and its crew of political henchmen and errand boys.