Krugman:

And then there’s the matter of the banks.

Yeah, who could have predicted that would be a problem? Then again, you had to be watching (09/20/2008) the bailout as it happened (09/28/2008 ) to notice (10/02/2008*) that little "matter," instead of focusing on bright shiny objects like that trashy Sarah Palin.** Priorities! And opportunity costs.

I don’t know if administration officials realize just how much damage they’ve done themselves with their kid-gloves treatment of the financial industry, just how badly the spectacle of government supported institutions paying giant bonuses is playing. But I’ve had many conversations with people who voted for Mr. Obama, yet dismiss the stimulus as a total waste of money. When I press them, it turns out that they’re really angry about the bailouts rather than the stimulus — but that’s a distinction lost on most voters. ...

So progressives are now in revolt. Mr. Obama took their trust for granted...

Yeah, who could have predicted that?

... and in the process lost it. And now he needs to win it back.

"Honey, I've changed!"

Is there some kind of Versailles law that only The Played get to lecture the The Cassandras on how to be Serious Strategerists?

I'm guessing yes.

NOTE * And a shot so easy it's hard to claim it was called:

Watch for universal health care to be walked back even from Obama's piss poor plan.

NOTE ** After which, apparently, there was a humongous "Is Barack Obama really a progressive?" debate, which resolved itself into "Wait 'til he does something." Which held the line until "He's only been in office 30 days." And on we went, until the latest line, which goes like "We only hold the Presidency, the House, and a filibuster-proof majority in the Senate. What do you want from us? And could you send us some money?"

UPDATE For a few thousand posts on this in near-real time, see The Big FAIL, one of our many incomparable books.

UPDATE I'm not including Krugman in "The Played," though whatever Kool-Aid was served when Krugman had dinner at the White Hosue seems to have taken an awful long time to work its way out of his system. Oh, and this is not a Sarah Palin post, mkay?