Yeah, I know, this post plays into all the worst stereotypes about political journalists (there's a market meltdown happening, and we just want to talk about the horse race...). But if you want a substantive analysis of the Fed's rate cut, go read Barry Ritholz's excellent post. Or read Krugman on how long a recession could last.
The question here is: What about the GOP race? Romney's starting to make his "I'm a business leader, I know what to do" pitch down in Florida—even if he's just proposing the same old Bush-style tax cuts for corporations and the wealthy. Is that going to convince anyone? Maybe it helps that his opponents are either flailing about on economic questions (McCain) or endlessly pitching zillions of dollars in tax cuts (Giuliani).