For his next act, President Obama has made a replacement for former Chief of Staff Rahm Emanuel appear, and it’s none other than William Daley, another member of Chicago’s Daley political dynasty — and one with close ties to Wall Street. –KA

The Washington Post:

Daley — who served in the Clinton administration and ran former Vice President Al Gore’s presidential race — came highly recommended by trusted White House figures. He traveled extensively with Vice President Biden during the 1988 presidential campaign, has a long-standing friendship with senior adviser David Axelrod and is extremely close to the previous chief of staff, Rahm Emanuel — who is currently running to succeed Daley’s older brother Richard as mayor of Chicago.

[…] In tapping Daley, Obama may achieve multiple goals. A lawyer who now serves as Midwest chairman of J.P. Morgan Chase, Daley could help restore the administration’s frayed relationship with Wall Street and the business community and speak credibly on the economy, Obama’s declared focus over the next two years.

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