A great post about the William Daley non-hire, and how to feel about it by Ezra Klein

I'm not wild about William Daley coming into the White House as Chief of Staff, but I'm not that opposed to it happening either.  (It's not impossible, but...) He seems qualified enough for the job, which is more than I can say for Ed Rendell (cough-cough, Joe Klein) In any case, I have my doubts about it happening. The Citibank stench, at the end of the day, will overwhelm. Added to that, its supposed purpose probably won't work for the reasons Erzabelow outlines :

It's frankly slightly insulting to business leaders to say that their relationship with the White House relies on how many close personal friends they have in the building. It's not that that stuff doesn't matter, but what really matters, as you'd expect, are actual policy decisions. And the reason Daley is well liked by business, at least right now, is that he has been siding with them on major disputes. If he gets to the White House and stops doing that, he won't be as well liked among them.

If the administration wants more support from the business community, that's going to mean giving the business community more things that it wants, or at least fewer things that it doesn't want. So far, that's not happened because the administration has thought that good policy meant pushing some high-profile changes -- such as the Consumer Financial Protection Bureau -- that the business community really didn't like. If the administration decided it was wrong about that, and has resolved to not do things business doesn't like going forward, it can build a better relationship with the business community even without Daley. Conversely, if the administration plans to keep pushing policy it likes even if business doesn't like it, then relations with corporate America will be icy even if Daley is working the phones morning, noon and night.

You know the old saying, "nothing personal, this is just business"? Well, the business community knows it, too.