It was at least back in September the name of Michael McRaith, the homosexual Illinois Insurance Director and Obama campaign donor, was being floated to become head of the Federal Insurance Office, a new Treasury Department post charged with advising Secretary Timothy Geithner on, well, insurance stuff. Now, it’s a go. He’ll also assume a seat on the Financial Stability Oversight Council, which has the task of “identifying companies that are so large, complex or interconnected that their failure could destabilize the entire financial system.” I sure hope Mr. McRaith is excellent at playing piñata.

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