This is a great exchange for Obama:

First, a shadowy 527 group with an Orwellian name (American Issues Project) airs this already infamous commercial linking Obama to Ayers and Ayers to terrorism.

Calling Ayers a terrorist is like calling a cub scout a soldier, (and man did they have to stretch to find a narrative connection between Ayers and 9/11) but let's put that aside for a sec. The ad is run by a guy who used to work for the McCain campaign as a consultant until June 2007 and then quit. I wonder why someone would sign on as a consultant for an election campaign, and then quit 7 months before the first votes are cast?

Obama responds with this ad, which I think appropriately puts some perspective on the importance of Bill Ayers in this election.  Notice, why is John McCain talking about the sixties; Obama attributes it entirely to him. It's about damned time.

McCain's response is fun to read:

That they've made a strategic decision to air a commercial about William Ayers is perplexing. I don't understand it, but put that aside. The ad is misleading. It states the McCain campaign is running an ad on the issue and it's not. This a pattern of attacking from a platform of disingenuousness when Obama accuses his opponent of attacking when he's not, in an attempt to disqualify the issue from the debate. Here's Obama's problem with regard to Ayers. When he was asked directly, Obama described Ayers as just a guy who lives in his neighborhood. We know that's not accurate. Before we get to the place where we can ask, "Why does Barack Obama have a relationship with an unrepentant terrorist?" we have to ask, "Why is Barack Obama not being forthcoming about his relationship?" This is what he has to realize: He's a candidate for president of the United States of America. He's not in a state senate race where he can disqualify all his opponents from running. He's deluding himself if he doesn't think his relationship with an unrepentant domestic terrorist who was part of this viscous, crack-pot group will give the American people pause. If he does, he's being very naïve. And he's being misleading. It says a lot about Barack Obama. John McCain is not running an ad on Ayers and William Ayers was not just someone who lived in his neighborhood.

Who, us? Make an issue of Ayers? Nah, couldn't have been us - that was the guy who used to work for us but then quit to work full time making negative ads about Democrats for the same people who fund our campaign. Nothing to do with us, right?

Three basic points in that paragraph: first, we're not attacking Obama on Ayers. Second, it's legitimate to attack Obama on Ayers. Third, this is now an attack on Obama about Ayers. When campaign strategists have to spin that hard, it's because they know that nobody is buying their central argument.

Also, what a horrible piece of writing. "This is a pattern of attacking from a platform of disingenuousness." Yikes.  Very apparent to me that they did not have a prepared response to this, because they did not expect Obama to turn around and hold them accountable for their 527s. Of course, Obama doesn't have to worry about being held responsible for 527 groups operating in his name, because he's already essentially shut those groups down.

Take heart, Democrats, remember how Obama got here: he's a very good tactician.