Daniel Larison is shorting Pawlenty stock:
Pawlenty’s candidacy doesn’t have any obvious rationale. In fact, the former Minnesota governor has trouble coming up with a reason why he is running at all. He doesn’t unnerve any major constituency in the party in the way that Huntsman does and Daniels did, but he isn’t that closely identified with any of them. He inspires neither intense loyalty nor especially strong dislike. Pawlenty is a compromise candidate in a party that is largely tired of having to settle for what they can get.