Democratic presidential candidate Hillary Clinton (L) speaks as U.S. Sen. Tim Kaine (D-VA) (R) listens during a campaign event at Ernst Community Cultural Center | Alex Wong/Getty Images Kaine pick draws mixed reviews from liberals While Wall Street lobbyists rejoice, progressive groups are less than thrilled.

Hillary Clinton’s unveiling of Tim Kaine as her vice presidential pick was greeted by mixed reactions from liberal groups on Friday night. But one constituency breathed a sigh of relief: Wall Street.

While some praised his consistent support of labor and women’s rights, several progressive organizations were quick to criticize Clinton's newly minted running mate, urging the Democratic ticket to adopt a more “populist” stance on trade and financial regulation.

“The mood of the country is a populist one,” said Stephanie Taylor, co-founder of Progressive Change Campaign Committee, in a statement emailed minutes after Kaine was announced. “Unfortunately, since Tim Kaine voted to fast track the Trans-Pacific Partnership, Republicans now have a new opening to attack Democrats on this economic populist issue.”

Taylor said that Clinton, who supported the 11-country Pacific trade pact as secretary of state before reversing her stance last fall, has opened up a line of attack from Republican nominee Donald Trump, who has ripped such agreements as "bad deals" for the United States.

The risk, some Democratic operatives said, was that Clinton might have just re-opened a rift with the left wing of the party that Trump could exploit.

"As we saw in Donald Trump’s speech last night, Republicans will run hard against Democrats on trade this year,” Taylor said. “Clinton should push the White House to take TPP off the table in a lame duck Congress in order to avoid this vice presidential pick allowing Donald Trump to outflank her on this key issue."

According to a report in the Huffington Post, Kaine has told Clinton he now opposes the TPP, though he praised the agreement as recently as Thursday.

The PCCC's criticism comes after another progressive group, Democracy for America, denounced Kaine in a pre-emptive strike issued before Clinton even announced her pick.

“It should be disqualifying for any potential Democratic vice presidential candidate to be part of a lobbyist-driven effort to help banks dodge consumer protection standards and regulations designed to prevent banks from destroying our economy,” the group’s executive director Charles Chamberlain said in a statement Thursday, referencing a letter Kaine signed urging the Federal Reserve to consider easing regulations on regional banks.

Prominent labor groups met the Kaine announcement with open arms.

Documentary filmmaker Michael Moore, who backed Vermont Sen. Bernie Sanders in the Democratic primary, was among those on the left who expressed disappointment with the decision, tweeting: “Att’n Hillary campaign: It’s not Trump who’ll beat u. It’s the people who are going to stay home.”

While most mainstream groups seemed happy with the choice of Kaine, the risk, some Democratic operatives said, was that Clinton might have just re-opened a rift with the left wing of the party that Trump could exploit.

“The risk with picking Kaine isn’t about Clinton thumbing her nose to the Bernie Bros, it’s about losing the Rust Belt (where anti-trade and anti-Wall St. sentiment is high),” a Democratic strategist with ties to the region told POLITICO in an email. “Between the Ohio and PA polls and the Brexit vote, this seems like it could be a big risk.”

Prominent labor groups, however, met the Kaine announcement with open arms. AFL-CIO President Richard Trumka praised Kaine’s “strong record on workers’ issues” while the SEIU vouched for the senator’s labor bona fides, saying in a statement: “We know what is in Tim Kaine’s heart.”

Despite his personal opposition to abortion, Kaine also received strong approval from several women’s rights groups, including the National Organization for Women (NOW), which hailed the senator as a "proven leader" who as vice president would "work to break down the barriers that hold women and marginalized communities back.”

“The combination of Hillary Clinton and Tim Kaine stands in sharp contrast to the turn-back-the-clock, step up the war on women platform of Donald Trump and Mike Pence,” NOW President Terry O'Neill said in a statement. “Women know this is the most important election in a generation, and we also know that we have a steadfast advocate in Tim Kaine.”

Stephanie Schriock, the influential head of Emily’s List, tweeted, “The strongest ticket for women and families just got even stronger.”

As if to head off potential criticism, the Clinton campaign cast Kaine as a progressive in its statements on Friday. In an email to supporters explaining her decision, Clinton described Kaine as “a lifelong fighter for progressive causes.”

And Clinton spokesman Brian Fallon tweeted out a list of Kaine’s ratings from several progressive groups -- all of which have larger followings than either the PCCC or DFA.

Kaine's ratings from key progressive groups:

Brady Campaign 100%

Human Rights Campaign 100%

Planned Parenthood 100%

AFL CIO 96%

NAACP 96% — Brian Fallon (@brianefallon) July 23, 2016

Wall Street lobbyists, meanwhile, reacted with relief to the Kaine selection on Friday, not because the senator is particularly soft on financial reform but because his name is not Elizabeth Warren.

“He has demonstrated some interest in banking issues as evidenced by last week’s letter,” one of the top Wall Street lobbyists in Washington emailed POLITICO, referring to the letter to the Fed that Kaine signed. “He's a sign of Hillary being Hippocratic in her pick -- he does no harm. Time will tell if progressives show real angst or if it’s just fringe groups.”

The lobbyist added that a Warren pick, while never viewed as likely, would have “split the Street” between Clinton and Trump. Now industry cash is likely to keep flowing to Clinton.

Another lobbyist who had feared for weeks that the Massachusetts senator might be chosen said that Kaine was “certainly more level-headed and substantive than others considered.”

Dennis Kelleher, CEO of financial reform group Better Markets, said that Kaine was “not going to fire anyone up, but smart safe choice of a really well liked, high-quality guy with good values. He’ll have some work to do on the key issues, but I believe he'll do it effectively and win over those who have doubts or concerns.”