Kevin Connor is co-director of the Public Accountability Initiative, a nonpartisan research and educational organization focused on corporate and government accountability, and co-founder of Littlesis.org.
The choice of a new treasury secretary presents an early test of President-elect Obama's commitment to change in the realm of economic policy, where the need for a new direction is most painfully evident. Will the new administration find a bold answer to decades of trickle-down economics? Or will Wall Street-affiliated party insiders summon the political muscle to remain relevant and deliver for their friends in finance? A battle for the soul of Obama's White House is underway.
Considering what is at stake, the emergence of Lawrence Summers as a leading candidate for treasury secretary is an alarming indicator that Wall Street Democrats with abysmal records are gaining an upper hand over the broad progressive coalition that lifted Obama to victory.