Bits & Pieces

If there’s one general lesson to be gleaned from Christie’s victory over Jon Corzine in New Jersey, it’s surely that in today’s zeitgeist it’s less of a stigma to be fat than a former Goldman Sachs fat cat, even in a blue state.

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The Obama administration does not seem to understand that this rage, left unaddressed, could consume it. It has pushed aside the entreaties of many — including Paul Volcker, the chairman of the White House’s own Economic Recovery Advisory Board — to break up too-big-to-fail banks. Those behemoths, cushioned by the government’s bailouts, low-interest loans and guarantees, are back making bets that put the entire system at risk. Yet last Sunday, we once again heard the Treasury secretary, Timothy Geithner, on “Meet the Press” dodging questions about the banks in general and Goldman in particular with unpersuasive bromides. “We’re not going to let the system go back to the way it was,” he said.

– Frank Rich, warning about Democrats seeming embrace of the bankers and financiers who are primarily to blame for the economic collapse.