So this was the worst week for Wall Street. It was also the worst week on the campaign trail.
As the Dow plunged on Monday, John McCain and Sarah Palin unveiled what would become the theme of their week: a series of attacks wrapped in one overarching question, “Who is Barack Obama?”
Barack Obama is the man who kept moving up in the polls, in spite of attack ads, of McCain supporters calling him “Barack Hussein Obama”, and of an effort to link him to a “terrorist”.
The debate, Wednesday night, was devoid of any trace of that theme. Six million questions had been submitted. Yet, that second debate mostly reprised the first encounter, albeit in front of a bigger audience. John McCain haphazardly announced a new plan to buy off 300 billion dollars worth of bad mortgage but, essentially, no news was made. Barack Obama “won” the night merely by appearing steady and articulate.
The next day, John McCain gave more details about his mortgage plan; he was greeted with criticism from the left (Obama’s claim that it would mostly help the financial firms responsible for the mess) and the right (another massive bailout that would push the country towards “socialist” policies).
The campaign took off again on two separate tracks: McCain/Palin questioning “who is Barack Obama” and insisting that he is “too risky”; Obama/Biden questioning McCain’s “erratic” performance and his ability to reverse the economy’s down trend.
At the end of the week, it became apparent that McCain’s effort to link Barack Obama to Bill Ayers was not producing any noticeable results in the polls. It was producing plenty of anger, though, and John McCain could not ignore it any longer when it spilled into questions posed directly in his “town hall” meetings. He tried to tone down his supporter’s rage, with variable degrees of success.
Friday, as the week was about to close with some of the worst economic data ever, George Bush addressed the nation. No news, no point, no effect. The other news, on Friday, was the evening release of the report on the “troopergate” affair. Sarah Palin, according to the bipartisan investigation’s conclusions, abused her power and violated Alaska ethics laws. It seems that in this instance she ran the government as a family business (Todd Palin helping) to solve a family issue (the on-going feud with the governor’s sister ex husband).
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READ THIS WEEK (a little extra from the French viewpoints)
In other news, this was the week the Nobel for literature was attributed – not to an American, everyone had been right in predicting that, but to a French writer who is also a resident of New Mexico. An article in “Le Monde” explores how JMG Le Clézion is “misunderstood” in the United States, creating discomfort for the way he’s perceived both as a nomad and an “exotic-ist”. here. I was lamenting, in passing, the lack of translations of contemporary novels on the American market; once again, “Le Monde” gives the sad details – 3% only of all novels published in the United States are foreign literature. Complete article here.
And since there was so much news about “domestic terrorist” this week, I can not resist this little piece in “Libération”, about the visit Carla Bruni-Sarkozy paid to Marina Petrella. Once a member of the Brigade Rosse, a radical violent group in the seventies, Marina Petrella had lived peacefully in France, granted the asylum president Mitterrand offered all those who would lay down their arms. Italy’s current government wanted Marina Petrella extradited so that she could serve a life sentence for murder. She went on a hunger strike. The First Lady of France was bearing a message from her husband: the extradition request has been denied. The story: here.
In other “domestic terrorist news”, Jean-Marc Rouillan (of “Action Directe”, a French revolutionary armed movement) was sent back to jail after he failed to publicly “regret” the 1986 assassination of George Besse, the former CEO of Renault, when talking to the French weekly “L’Express”. The facts, here. That gives Mathieu Lindon an opportunity for a nice little riff on the general hypocrisy of the “regrets” protocole. Full text here.