Ben Smith parses the Mccain camp's non-denial denial of the NYT story on Rick Davis's Freddie Mac connections:

...don't mistake the extended non-denial for an argument about the substance of the story. At this point in the race, details like that may be less important than braoder [sic] electoral positioning, and the campaign seeks to escalate this into an argument with the Times, rather than a conversation about Davis's ties. The question is whether the conservative base -- which hotly contested negative stories about Sarah Palin -- will defend Davis, not a particular conservative hero, with the same vigor.

Josh Marshall's take is also worth a read.

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