October 26, 2008 9:25 p.m.

Former Sen. Larry Pressler (R-SD) votes (by absentee) for Obama.

I was on a panel a week or so ago. And I said that I thought most observers were overstating the degree to which an economic crisis automatically advantaged the Democrat. To some degree, sure, especially in the dying days of an unpopular Republican incumbent. But remember, McCain’s sell in this campaign was steadiness, experience, unflappability in a crisis. If he’d convinced voters that that was what he brought to the table, I do not believe the damage he sustained by the economic crisis would have been nearly so great. I continue to think that McCain’s reaction to the economic crisis was the turning point in the election.

Here’s what Pressler said

Pressler, who said that in addition to casting an absentee ballot for Obama he’d donated $500 to the Illinois senator’s campaign, cited the Democrat’s response to the financial crisis as the primary reason for his decision.

“I just got the feeling that Obama will be able to handle this financial crisis better, and I like his financial team of [former Treasury Secretary Robert] Rubin and [former Federal Reserve Chairman Paul] Volcker better,” he said. By contrast, John McCain’s “handling of the financial crisis made me feel nervous.”

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