At some point Republicans are finally going to admit that they hired Michael Steele to head the RNC because of the color of his skin and not the content of his character. Obviously they don’t trust the Man of Steele:

Capitulating to critics on the Republican National Committee, embattled Republican Party Chairman Michael S. Steele has signed a secret pact agreeing to controls and restraints on how he spends hundreds of millions of dollars in party funds and contracts, The Washington Times has learned.

The "good governance" agreement revives checks and balances Mr. Steele resisted implementing for RNC contracts, fees for legal work and other expenditures that were not renewed after the 2008 presidential nominating contest.

The agreement, proposed by several current and former RNC officials, goes further, making 33-year RNC veteran Jay Banning, who was fired by Mr. Steele along with his deputy last month, an on-call adviser to the RNC treasurer. Mr. Banning was seen as a trusted liaison to RNC members critical of Mr. Steele’s tenure and financial management.

"I regard them – the Steele administration – bound by it," former Republican National Committee General Counsel David Norcross told The Times on Tuesday.

It’s not that they think Steele is going to embezzle money from Republicans; they already have a white man to handle that job thankyewverymuch. They just want to humiliate Steele to the point where he’ll finally quit but, in this economy, who can afford that? Ultimately there will be a buy-out offer and the Republicans will find out just what it takes to make him go away. To their surprise, they’ll find out that prices have gone up considerably since the days of forty acres and a mule.

I’d start the bidding with a fellowship at the American Enterprise Institute and a pony and see where it goes.