I don't think this issue has the political clout to influence the election. Unless, of course, it all blows up. I think most people will still look at jobs, economy, perhaps gov't spending. Maybe some single issues like health care - etc.
My two cents...big boyz want Obama gone so they tank this market ***HARD*** Sept-Oct 2012 to make sure he loses the election.MEGA jam if he loses,retest of lows if he wins.