For the party establishments — Democratic and Republican — it was a bad night in Iowa as their favored candidates went down to severe defeat on Thursday.

With Barack Obama's crushing victory over Hillary Clinton, the campaign scenario of the Democratic elite is now in the trash bin. Their calculation had been that Obama would never be able to match the Clintons' fundraising. Wrong. Obama raised huge sums from small contributors who can continue their support. A lot of Hilla ...

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