EDITORIAL EXEGESIS

"Just as Tom Daschle's Senate pals were preparing to grant absolution for his six-figure tax-free limousine -- could've happened to anyone -- the former Majority Leader [Tuesday] withdrew his nomination to be Secretary of Health and Human Services. Give Mr. Daschle credit for making the honorable choice, and sparing President Obama from a bipartisan populist revolt. ... Mr. Daschle's embarrassment of riches is a typical story, and in fact is the result of the liberal ideology his critics have been advocating for decades."

"The main story of the Obama Presidency so far isn't the contradiction between Mr. Obama's campaign promises and the messier reality of his nominees. That was always inevitable. The real story is the massive transfer of power and wealth now underway from the private sector to the political class. Mr. Daschle could make so much money and achieve such prominence because he was expected to be a central broker in that wealth transfer. ... What Mr. Daschle's lucrative career as influence peddler really illustrates is how much Washington is now expanding its reach over the economy. ... As for Mr. Obama, as recently as Monday night the President was saying he 'absolutely' stood by his nominee before reluctantly accepting his withdrawal."