The presidency of Barack Obama is full of funny things that need not follow any sort of logic. Images and ideas just pop in and out, without worry of inconsistency, contradiction, or hypocrisy. It’s a fascinating mish-mash of strange heroes and bogeymen, this imaginarium of our president. In the imaginarium there are no revolving doors, earmarks, or lobbyists. So Peter Orszag did not go from being OMB director to a Citigroup fat-cat. Once chief-of-staff Rahm Emanuel did not make $16 million for his well-known banking expertise. The more you damn the pernicious role of lobbyists and the polluting role of...