America’s ‘Political Credibility Crisis,’ Obama’s ‘Leadership Talking Point’

The failure of the bailout legislation yesterday pointed to a political crisis, writes Michael Scherer. "This is a remarkable event, the culmination of a historic sense of betrayal that Americans have long felt for their representatives in Washington D.C." [Time]

Barack Obama’s proposal to raise the FDIC limit "could calm the markets" and "gives Obama a ‘leadership’ talking point," writes John Riley. [Spin Cycle]

The Obama campaign’s new two-minute spot on the economy. [The Page]

On TV this morning, John McCain suggested we call it a "rescue" instead of a "bailout." [The Swamp]

Today McCain "looks like a loser," writes Howard Wolfson. [The Flack]

The A.P. writes that McCain is in a "political dead end." [AP]

America’s ‘Political Credibility Crisis,’ Obama’s ‘Leadership Talking Point’