Even as the stock market takes another tumble, Senator Obama's own campaign finance strategy seems to be showing signs of weakness. After embarrassingly reversing his pledge not to accept public financing - thereby turning off his small dollar donor base - Senator Obama finds himself dependent on large donors, especially since he has chosen to refuse government matching funds. This shoot-yourself-in-the-foot syndrome worries me when it afflicts somebody running to be President of the United States.

Tonight I attend a finance committee meeting as Senator Clinton's guest. What I expect to tell, if asked: that I had an extra successful day raising money to retire Senator Clinton's debt. What I expect to hear: pleas for donations to Senator Obama. Hmm....somehow I don't think this is what the D.N.C. was expecting when they tweaked the rules to produce Dr. Dean's and Speaker Pelosi's preferred presumptive nominee.