Crony capitalism

As we breathlessly await Bush's pick to replace the fed chairman, this is just not an encouraging story.

Mr. Card has been chief of staff for Mr. Bush's entire first term and one year of his second — an unusually long stint in a very stressful job. Mr. Card is thought to be interested in the Treasury secretary's job, when and if John Snow decides to step down.

As the Political Animal points out, lobbyist for the auto industry is not exactly prime credentials for treasury secretary.

Bernanke is the rumored pick, but does George II really know him all that well? Now, Karen Hughes, that's a gal he can trust.