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Roger Altman probably knew his days were numbered when Bill Clinton issued a tepid, one-sentence endorsement of his college chum and campaign fund raiser. In a statement released by Treasury chief Lloyd Bentsen last Monday, Clinton said, "I believe that Roger Altman has been an excellent Deputy Treasury Secretary, and we want him to continue in that capacity." In Washington, where what isn't said is often more important than what is, those less than bracing words of support could have another translation: "Pack your bags."

Altman could be forgiven if, four days later, he thought he heard moving vans coming up...

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