Conflicted President, Undefined Presidency

In the midst of last year’s New York primary, Bill Clinton brought his stump speech to Wall Street. The Street was not impressed. “The problem with the past twelve years,” Clinton told a noontime rally in the financial district, “is that Wall Street’s gone up, and up, and up—the market’s tripled in value over the last twelve year—while Main Street hasn’t gone anywhere at all.”

At which point, the crowd began to boo.

Let’s...