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September 15, 2008



It sounds cynical, but Obama needs to exploit this moment of uncertainty on Wall Street. McCain by his own admission doesn't understand the economy. While I'm worried for my country's financial markets, which admittedly I don't fully understand myself, I'm gleeful that a crisis has arrived for which I'm sure the Republican candidate will have no sensible solution. He may have the disgraced Phil Gramm whispering solutions sub rosa into his ear, but we will all know McCain didn't come up with whatever he says on his own. He will not have a "we are all Lehman Bros. employees now" moment. This is the moment for Obama to have a major policy speech this week, with lots of media attention, and announce a "New Contract" for America, a play on the GOP's Contract for America from the 1990s. Only this will be nothing like that Gingrich-authored set of proposals. If Obama and his advisors seize this moment, this can be something that harkens back to FDR's New Deal. This is his moment to sway those undecided independents. Bush has never more looked like Herbert Hoover than he does today, Red Monday, September 15th.

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