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&lt;p&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: &#39;Arial&#39;,&#39;sans-serif&#39;&quot;&gt;So Subprime Superman H. Rodgin Cohen has asked that his name be removed from consideration for the job of deputy Treasury secretary. But why?&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;&lt;p&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: &#39;Arial&#39;,&#39;sans-serif&#39;&quot;&gt;According to ABC&amp;#8217;s George Stephanopoulos, &amp;#8220;an issue arose in the final stages of the vetting process.&amp;#8221; &lt;i&gt;The Washington Post&lt;/i&gt; reports the same mysterious &amp;#8220;issue&amp;#8221; which sources &amp;#8220;declined to identify.&amp;#8221;&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;&lt;p&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: &#39;Arial&#39;,&#39;sans-serif&#39;&quot;&gt;The substance of the &amp;#8216;issue&amp;#8217; is the source of some interesting speculation at Tom Blumer&amp;#8217;s BizzyBlog:&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;&lt;p&gt;&lt;i style=&quot;mso-bidi-font-style: normal&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: &#39;Arial&#39;,&#39;sans-serif&#39;&quot;&gt;Over the years, &lt;/span&gt;&lt;/i&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: &#39;Arial&#39;,&#39;sans-serif&#39;&quot;&gt;[Cohen]&lt;i style=&quot;mso-bidi-font-style: normal&quot;&gt; appears to have accumulated quite a list of bruised feelings, grudge-holding enemies, and politically problematic involvements. Taken as a whole, I believe they would have called into question not only his ability to oversee the banking and financial sectors impartially and in the country&amp;#8217;s best interests, but also the degree of support he would have had from his own party if he were to stumble even slightly&lt;/i&gt;&amp;#8230;[Cohen is]&lt;i style=&quot;mso-bidi-font-style: normal&quot;&gt; a man who was on the cutting edge of a historic wave of consolidation in the banking industry, something populist Democrats and perhaps even some Republicans would have found hard to swallow in Treasury&amp;#8217;s second-in-command.&lt;o:p&gt;&lt;/o:p&gt;&lt;/i&gt;&lt;/span&gt;&lt;/p&gt;&lt;p&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: &#39;Arial&#39;,&#39;sans-serif&#39;&quot;&gt;Blumer cites the October &amp;#8217;08 &lt;i style=&quot;mso-bidi-font-style: normal&quot;&gt;Wall Street Journal &lt;/i&gt;piece, &amp;#8220;A Lawyer for All Wall Street Navigates Tempestuous Times,&amp;#8221; to support the provocative notion that Cohen is the &amp;#8220;man who may, as much if not more than anyone else, be responsible for why the banking business is in its current condition.&amp;#8221;&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;From the &lt;i style=&quot;mso-bidi-font-style: normal&quot;&gt;Journal &lt;/i&gt;article:&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;&lt;p&gt;&lt;strong&gt;&lt;i style=&quot;mso-bidi-font-style: normal&quot;&gt;&lt;span style=&quot;FONT-WEIGHT: normal; FONT-SIZE: 10pt; FONT-FAMILY: &#39;Arial&#39;,&#39;sans-serif&#39;; mso-bidi-font-weight: bold&quot;&gt;Mr. Cohen is also in demand because he helped mold the financial system that is now under assault. He helped draft the rules that led to the emergence of powerful national banks,&lt;/span&gt;&lt;/i&gt;&lt;/strong&gt;&lt;i style=&quot;mso-bidi-font-style: normal&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: &#39;Arial&#39;,&#39;sans-serif&#39;&quot;&gt; waged the first hostile bank takeover in the U.S. and lobbied, in the early 1990s, to expand the Federal Reserve&amp;#8217;s power to provide the emergency loans now being employed by the government.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/i&gt;&lt;/p&gt;&lt;p&gt;&lt;i style=&quot;mso-bidi-font-style: normal&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: &#39;Arial&#39;,&#39;sans-serif&#39;&quot;&gt;But Mr. Cohen&amp;#8217;s immersion in the banking system also has at times put him in a difficult position. &lt;strong&gt;&lt;span style=&quot;FONT-WEIGHT: normal; FONT-FAMILY: &#39;Arial&#39;,&#39;sans-serif&#39;; mso-bidi-font-weight: bold&quot;&gt;As he jumps from one client to the next, it is sometimes hard to tell whom he may be representing at a given moment.&lt;/span&gt;&lt;/strong&gt;&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/i&gt;&lt;/p&gt;&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 10pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: &#39;Arial&#39;,&#39;sans-serif&#39;&quot;&gt;In any event, there remains a gaping hole where Treasury&amp;#8217;s No. 2 ought to be.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp;&lt;/span&gt;Gus O&#39;Donnell, Cabinet Secretary for the British government, complained this week that it is &quot;unbelievably difficult&quot; to communicate with the Treasury Department: &quot;There is nobody there.&quot;&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 10pt&quot;&gt;&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 10pt&quot; align=&quot;right&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: &#39;Arial&#39;,&#39;sans-serif&#39;&quot;&gt;-posted by brian&lt;/span&gt;&lt;/p&gt;

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Rodge dodges

So Subprime Superman H. Rodgin Cohen has asked that his name be removed from consideration for the job of deputy Treasury secretary.

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