Margaret Carlson, Bloomberg
Margaret Carlson is a Bloomberg View columnist appearing on Wednesdays. A former White House correspondent for TIME, she was also TIME's first woman columnist. She appeared on CNN's "Capital Gang" for 15 years.Yes, Virginia, there is a Republican establishment and, like Santa Claus, it works quietly. After it convinced reluctant conservatives to nominate Senator John McCain for the presidency in 2008 -- and he lost spectacularly to a rookie senator from Illinois -- its members went to ground. The chastened old guard put what was left of its power in a blind trust and...
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