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The Dow is now down over 500 points on the failure of the bailout. In the immediate term, I think this hurts McCain. He made such a show of suspending his campaign so that he could go to Washington, bring the two parties together, and get things done. The fact that everything collapsed undermines that argument. Furthermore, the longer the stock market is in turmoil and Americans are uncertain about the economy, the harder it will be for McCain to win, because, fair or not, the public holds Republicans responsible for this mess.

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