Unraveling: Obama's juggernaut-of-rivals will give way to a more focussed, coherent, administration. The peripheral elements (like Paul Volker) will give way to the core, so that within two years the administration will look a lot more trim. If this is well managed (gently picking off the elements one-by-one), it will herald an unremarkable transition from a campaign of transformative insurgence to a conservative administration. If it's poorly managed it could spark divisive revenge from the outgunned rivals. Either way, the implementors of Clinton's triangulation will reintroduce centreism as the animating theme of the adminstration. This time, the chastening effect of the economic fallout will double the conservatising impulse.
Greg Craig was damply squiby, but with Christina Romer's resignation the portents are clearer. This bit of deepthroatery from Hotline
"She doesn't feel that she has a direct line to the president. She would be giving different advice than Larry Summers [director of the National Economic Council], who does have a direct line to the president."And you thought Bill was dead...