I've never seen such waves of mad hysteria over a Presidential campaign that, whichever way it ends, isn't likely to change much of anything, given that Presidents are front men for a status quo system, and that both major political parties are owned by giant corporations. (Both parties are implicated in the current financial mess.)
Never have I seen so many media persons losing their heads at once.
If Obama somehow loses an election he should win, it will be because of public backlash to the mainstream media. The media response to Sarah Palin has revealed the media's innate snobbishness, and is turning off large segments of the American populace. There may be many reasons to question Palin, but that she graduated from a little-known college, is from a faraway state, talks with a twangy accent, and-- unlike a Hillary Clinton-- is a self-made woman, aren't among them.
I recall the literary establishment's reaction to the DIY outsiders of the Underground Literary Alliance, the sense of entitlement that privileged Ivy Leaguers have, and can't help noticing now the same classist, hyper-emotional hatred and scorn.