The Obama administration bears much of the responsibility for the debacle in Massachusetts. Much of the failure also rests with the progressive community which is clueless about how to respond to our new billionaire bailout society.
If anyone has ever dreamed of being an office holder, 2010 is the year to do it. There are going to be several situations where voters elect a complete unknown, just to express their anger about the incumbent.
Populism is not so much a political stance (as "conservatism" is, for instance) as it is a political tactic. Meaning it can be used equally well by either side of our current American political divide.
There is a misplaced assumption that because African-Americans are more likely to be unemployed or poor, the policies designed to create jobs will benefit them evenly or in proportion to their disadvantage.
The Frank and Dodd regulatory reform bills are terribly drafted provisions which will strike a death blow to "main street" lenders and hand over a multi-trillion dollar mortgage market to a few large financial institutions.
Geithner is a continuing liability for this President. By stepping down, he can rightly claim some successes, while also presenting an opportunity for Obama to appoint a Treasury Secretary who fights for Main Street.