Chicago Takes Over The World

The press has been busy lauding Christine Lagarde as the first woman to head the International Monetary Fund. The fact that she's replacing a man accused of rape (and serial groping) has been proclaimed ironic.

Has no one noticed that yet another Chicagoan has risen to a position of power and prominence?

Ms. Lagarde's early years haven't drawn much coverage. In fact, she was once employed by Baker and McKenzie, a large and politically powerful law firm in Chicago.

The President of the United States came out of the swamp that is Chicago politics. His first Chief of Staff is now the mayor of that same city. The current Chief of Staff is the brother of the man who Rahm Emanuel replaced. And Bill Daley's father was the mayor for decades before that.

Not only is Bill Daley a Chicagoan, but he was employed by JP Morgan Chase, which everyone knows is a financial powerhouse. And now comes Ms. Lagarde, to lead the International Monetary Fund.

Mere coincidence?

Or has the moving and shaking, the wheeling and dealing, been carried on too quietly for the Washington press corps to hear, too far from Chicago to pick up on the murmurs?

You can't help but notice that a lot of muscle, both political and financial, has found a center on the shores of Lake Michigan. In a city where it isn't what you know, but who you know, it should come as no surprise that a long line is forming behind Ms. Lagarde, seeking the return of favors granted.

Just don't expect representatives from JP Morgan Chase to be there with their hands out when Ms. Lagarde starts dispensing Greek debt. After the subprime loan disaster, no one is looking to take on another bad risk.