If you're curious about what the bare-knuckled exercise of political power by special interests looks like, go no further than the torpedoing of Sarah Bloom Raskin's nomination to a high post at the Federal Reserve.
Raskin withdrew her nomination by President Joe Biden to be the Fed's vice chair for supervision on Tuesday.
Her withdrawal wasn't prompted by questions about her qualifications or experience. That could hardly be the case: Raskin had won overwhelming approval from the Senate when she was appointed to the Fed's board of governors in 2010 and again when President Obama named her a deputy Treasury secretary in 2014.
