The newest fight on the political front is "the great smear," as I will call it. It started when McCain started to question Obama's relationship with Bill Ayers, who was one of the leaders of The Weathermen, a group of anti-Vietnam activist/terrorists. Of course, McCain latched on to Obama's relationship with Ayers and put out this smear ad (notice that, at no time during the ad, are there any quotes from Obama where Obama is speaking. It is narrated and they provide no visual or audio evidence of Obama's relationship or his opinion of Ayers):
McCain, of course, bolstered his ad with an appearance on ABC. Notice especially that at the end of his lengthy questioning of Obama's relationship with Ayers that he gets all upitty: "and then to compare [Ayers] with Dr. C- Tom Colburn who spends so much of his life bringing babies into this world!.."
Why should you have paid attention to McCain's anger at Obama's "comparison" of Ayers to Coburn? Because here is what McCain is referring to. Decide for yourself whether Obama's actions were reprehensible.
At the end of Obama's Primary debate with Clinton, he says that he "can take a punch, [he's] taken some pretty good ones." And thank God Obama's finally punching back (and with quite a bit more power than McCain's smear ad, it looks like!)
More information on the Keating scandal can be found on Wikipedia and in the New York Times.