Obama's Chief of Staff: The Man from J.P. Morgan
With Daley in charge, who needs Republicans?
Bill Daley, the brother of the former Chicago mayor and JPMorgan Chase executive, joined Obama's inner circle back in January in an effort to ease tensions with Wall St. leaders peeved at Obama for what they saw as his anti-business policies and rhetoric -- namely, health care reform, financial reform, and his utterance, once, of the term "fat cats.” In exchange, Chicago former CoS Rahm Emanuel as its mayor and schools boss. He's also a huge Democratic party rainmaker with elections on the horizon.
Democrats have taken issue with Daley for cozying up to Republicans and conceding too much, too soon, in negotiations with them. He routinely reminds GOP leaders how his business