Clarice Feldman lays out the reasons why the William Ayers/Annenberg Challenge story will seriously damage the candidacy of The One. A sample:

...the story was that Ayers was an old professor in Mr. Obama’s neighborhood who just happened to host a fundraiser for him in 1995 which launched his political career.

Some mush was thrown in along the way about having served with him on a charity board, but Obama did not correctly describe the charity or the dates or the extent of their association on it.

The truth is that the two men worked closely together for years, beginning several months before that 1995 fundraiser. The fund Obama chaired and which was supposed to improve public education in Chicago never met its stated purpose of improving public school pupils’ performance and, in fact, probably hindered it, despite having blown through $110 million in the process. And as chairman of this group Obama funneled this money to politically useful types including Fidelistas and Maoists who like Ayers (now vice-president elect of the American Education Research Association) are working to make our public schools indoctrination centers for the left .

Once the public learns more of the CAC, will the voters decide that the manner in which Obama exercised his sole opportunity at executive authority was so good that he deserves the keys to the Oval Office?