The blogospheric response to the appointment of Henry Paulson to replace John Snow has been generally, if not uniformly, positive. Max Sawicky
begs to disagree:
All this swooning over the new Bush appointee for Treasury Secretary, not least from leading Democrats like Chuck Shumer and Robert Rubin, makes me want to puke. I suppose some of it is relief that we didn’t get someone certifiable, like my pal Steve Moore. Standards continue to fall. …
Update: Menzie Chinn suggests that, whether he’s competent or not, Paulson’s accession isn’t likely to have much impact on administration economic policy. Nice graph.
Right now, you’re being flattered. You have a natural urge to be a team player. But if you play the game your new bosses want you to play, your credibility with the public will evaporate in no time at all. And when you’re no longer useful to your new friends, you’ll be tossed aside.