Several weeks before the Iowa and New Hampshire elections, they discovered their fundraising projections for the fourth quarter of 2019 were far too rosy. The army of organizers they hired when fundraising and polling were at their peak — it ultimately ballooned to over 1,000 people — had become a straitjacket. Donations nosedived after an Oct. 15 debate, when Warren was bombarded by her rivals.

Strapped for cash, the campaign didn’t have enough money to run the TV and digital ads they had originally planned for early contests as they tried to stay afloat in Iowa. Even then, they were forced to obtain a $3 million line of credit at the end of January…

“They chose … Bailey over ‘blood and teeth,’” said one staffer, referring to Warren’s golden retriever that the campaign made into an omnipresent prop to soften her image. “Unforgivable.”

“Blood and teeth” refers to a famous Warren quote from the legislative fight over the Consumer Financial Protection Bureau, which transformed Warren from a respected Harvard academic into a national progressive star. “My first choice is a strong consumer agency,” Warren said then. “My second choice is no agency at all and plenty of blood and teeth left on the floor.”