"The Bush administration, having entered office as social conservatives, leaves office as conservative socialists, proprietors of the most sudden large expansion of the state's role in the US economy since mobilisation for the second world war. Why did they decide to partially and quasi-nationalise America's banks – to invest $250bn in preferred stock plus warrants and tell the banks that it wanted them to use the capital to expand their loan base rather than contract it via deleveraging? It is certainly not what Henry Paulson signed up as Treasury secretary to do." And Obama's the socialist?

"As mentioned yesterday, what struck me most, in reviewing Barack Obama's oratorical and debate performance since the first cattle-call, Gravel-equipped televised debate early last year, was his unchanging nature. He got better as he went along, but as an improving version of the same thing. I said I couldn't be sure whether Obama's consistency arose from deliberate strategic choice, flawlessly executed over a very long time, or whether it simply reflects the way he is. Odds favor the latter." This is one of the qualities I most admire about Barack—we pretty much know what we're getting. Do we know what we're getting with John McCain—maverick, or Bush 44? I have NO FREAKING CLUE.

Powell, in a post-MtP news conference, is perhaps even more devastating to McCain than he was in his public endorsement. Good on you, Gen. Powell.

When *FOX NEWS* has turned on you, haven't you just about lost the election?

"And now the arcs reverse again. Powell, with his endorsement of Obama, taking a cleansing step not because he is endorsing a Democrat or the person who, instead of him, has a chance to become the first black President. But rather because Powell is at last free to say the many 'Cut the crap!' things that his fealty to the Administration had kept him from saying publicly while in office or until now, ranging from the perverse effects of anti-Muslim hysteria to the dangers of scorched earth political campaigns.

"Meanwhile, John McCain, once laid low by those very tactics, embracing them as his best chance for victory this year. Powell, tainted by his association with the Bush Administration, choosing at age 71 to restore his reputation for recognition of higher principles. McCain, who earlier opposed Bush tactics, choosing at age 72 a path that in the end is likely to bring him both defeat and dishonor. Maybe we need a Shakespeare to do this story justice."

"With that said, Powell has approval ratings as high as just about any public figure in America. His endorsement was eloquent, unequivocal, and because of his role in the Bush Administration, genuinely newsworthy. Powell's endorsement might play especially well among the defense and military communities in Northern Virginia, which just so happens to be perhaps the most important swing region in the election."

Mr. Powell answered reporters questions outside NBC’s Washington studio after taping “Meet the Press”:

“I think that Senator Obama brings a fresh set of eyes, fresh set of ideas to the table. I think that Senator McCain, as gifted as he is, is essentially going to execute the Republican agenda, the orthodoxy of the Republican agenda with a new face and a maverick approach to it, and he’d be quite good at it, but i think we need more than that.”