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The Bond Vigilantes Are Stirring Again

Bob Woodward is undoubtedly one of the most famous, yet controversial, “journalists” of the contemporary era.

Some people–mostly those on the political Left–think he’s a hero, a brave and gritty reporter who put it all on the line to bring down a corrupt president.

Others–mostly those of us who adhere a bit closer to reality–think that the word journalist deserves the scare quotes above when used to describe Woodward.

More than anything, Woodward is a “regime scribe,” a tool of the political establishment whose biggest and best-known stories were hand-fed to him by disgruntled government insiders looking to hurt their political opponents. And yes, it all started with Mark Felt and Watergate.

All of that said, Woodward occasionally wrote some pretty good stories. Sure, they were spoon-fed to him, and they were meant to advance the narrative the ruling class wanted advanced. But they were still interesting and instructive.

One such story was Woodward’s description of the early Bill Clinton presidency and pre-presidency, as told in his 1994 book “The Agenda.”

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Among other things, Woodward recounted the mugging that Clinton received at the hands of reality in January 1993, a few weeks before assuming office.

A good part of that mugging came courtesy of Robert Rubin, who had been the co-chairman of Goldman Sachs until he left the firm to work in Clinton’s administration, first as the director of the National Economic Council and then as the treasury secretary.

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