Wall Street Disaster Is an Opportunity for Obama

The New York Observer's Steve Kornacki writes today that "The chaos on Wall Street that exploded over the weekend – and caused to Dow to drop by more than 500 points on Monday alone – is, obviously, bad news for just about everyone. But strictly in terms of the looming election, now fewer than 50 days away, the timing may be something of a gift to Barack Obama and the Democrats, who have watched in bafflement since late August as their once-dominant political position has eroded.

Long before this week, the economy had already emerged as the top issue – by far – on the minds of voters. Now, Americans will be inundated with stories about the potentially devastating fallout from the collapse of Lehman Brothers, the sale of Merrill Lynch and the perilous footing of A.I.G. – thereby focusing their attention even more on the economy and their own financial security."