Stock markets are crashing with the news that Lehmann Bros have finally gone over. Fear is the overriding emotion as one of America's old economic institutions goes into administration. Stock markets are crashing with a vengeance. Merrill Lynch has had to be taken over by Bank of America to avoid bankruptcy. If we were not in a recession before, we are surely in one now. The financial sector has not taken this many blows since the Great Depression of 1929.
Ordinarily, this would lead to a change of Government. How will the American electorate react to this? Will they let the frivolity of a potential woman VP override the need for change? How has Republican attitudes to the free market helped the economy? Has it promoted the lax culture of greed and fiscal irresponsibility? If the Democrats do not win this election, it will prove what I thought when Hillary and Obama were the front runners for the Democratic ticket - that by choosing two minority candidates, they have lost the bestest chance ever of taking over the White House. Rest assured, if they had put forward John Edwards or someone like that for election, they would have walked the election. Can the appointment of Sarah Palin stem the tide of anti-Republican sentiment? Have the Republicans pulled off the greatest escape of all time or does Obama still have a chance of stealing the nomination?