THE WAITING IS OVER….Eighteen months ago:

One senior administration official said Treasury Secretary John W. Snow can stay as long as he wants, provided it is not very long.

Well, they finally did it! It turns out that “not very long” in the Bush White House means a year and a half. Here’s all you probably need to know about Snow’s replacement, Goldman Sachs CEO Henry Paulson:

But the White House spent months trying to find a prominent Wall Street figure to replace Snow, only to run into reluctance by many to take the cabinet job when economic policy was being set inside the White House.

So how did Paulson get suckered into the job? What kind of promises do you think they made to him? And how long will it be before he realizes they have no intention of honoring them?