This election isn't about lipstick on a pig

This morning it's worth noting the conjunction of the crisis on Wall Street with the McCain-Palin outrage over Barack Obama's use of a common saying about pigs and lipstick. Our financial system is teetering, and the Republicans are furious over a manufactured, non-existent slight. The issues we confront are too serious for that kind of stupidity.

Here is today's most chilling sentence. From Princeton Economist Paul Krugman:

Will the U.S. financial system collapse today, or maybe over the next few days? I don’t think so — but I’m nowhere near certain