Obama once told a meeting of bankers that he was "the only thing standing between you and the pitchforks." Picking Daley sends the message that pitchforks ("normal people") matter less than the uber-wealthy.
In any normal period of history our major banks would be considered corrupt institutions, and their leaders would be ashamed to show their faces among respectable people. But these aren't normal times, are they?
To date the president has barely dealt with the oil price malignancy threatening to destabilize the feeble economic recovery he has sponsored to date. It's time for him to act on his campaign promise in this regard.