Here's a brief history of President Obama's White House chiefs of staff: Rahm Emanuel, a former Clinton official who then worked in investment banking, was replaced in 2010 by Bill Daley, a former Clinton official who then worked in investment banking, in order to run for Mayor of Chicago, a seat that had been held for 20 years by Bill Daley's brother.

Today, Bill Daley officially resigned and will return to Chicago and perhaps his career in investment banking. He'll be replaced with Jack Lew, a former Clinton official who then worked in investment banking, who has served as President Obama's Office of Management and Budget director since 2010 when he replaced Peter Orszag, a former Clinton official who now works in investment banking.

Much like Emanuel and Daley, Lew was plucked for his perceived ability to work with intransigent Republicans.

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Who will fill the Office of Management and Budget now? Given what we know from past hiring practices, pretty much any old Marxist professor will do.