"A top strategist for the Texas Democrats who was disappointed by the Bill Clinton years, Mr. Dowd was impressed by the pledge of Mr. Bush, then governor of Texas, to bring a spirit of cooperation to Washington. He switched parties, joined Mr. Bush’s political brain trust and dedicated the next six years to getting him to the Oval Office and keeping him there. In 2004, he was appointed the president’s chief campaign strategist.
Looking back, Mr. Dowd now says his faith in Mr. Bush was misplaced."
I read this as "Having cashed in on the Clinton years, Mr. Dowd switched horses and cashed in on the Bush years, now with Democrats in control of congress and Bush poll numbers at record lows, Mr. Dowd is swtiching again."