Jack Balkin: “When the chips are down in his Administration, Bush has shown his true colors as a business conservative who above all wants a smooth ride for capital. That is what Miers offers.”

Balkin provides the best analysis of the Miers nomination I’ve read. But I’m not sure about the “smooth ride for capital” that Balkin describes. Robert Rubin provided a smooth ride for capital. A steadily worsening fiscal position isn’t so smooth.