Michael Barone‘s latest column posted at Human Events discusses the impact of William Daley’s appointment as White House chief of staff:
It’s not hard to understand Obama’s reasons for choosing Daley. Businesses are sitting on $1 trillion in cash and refusing to make job-creating investments. They are spooked by the Obama Democrats’ vast expansion of the size and scope of government and the prospects of ever more intrusive and expensive regulations being churned out by various federal agencies every day.
Obama hopes that the fact that Daley has held high-level jobs in the private sector will assure them that their fears are unfounded.
But when you take a look at Daley’s resume, what you see are positions not in job-creating departments but at the intersection between private firms and governments. He headed a union-owned bank. He was on the board of Fannie Mae. He was a high honcho at the telecom SBC.
Most recently, he has headed Chicago affairs for JPMorgan Chase, whose CEO, Jamie Dimon, is the most politically shrewd of the big finance chief executives. …
On the other hand, Barone says Daley could prove useful in helping Obama reach out to new House Speaker John Boehner.
