Bob Rae withdraws from the Liberal leadership race, leaving only Michael Ignatieff standing for the position. In essence this is a coronation of the anointed by the party's notorious "mandarins", one I think will show short-term gains in the polls but may result in long-term damage to their traditional power base.
Over the past years (probably throughout the party's history, to be honest) the Liberal party has been a very fractious one full of backbiting and competing interests; the spread of values often helps them attain power in Parliament, but also means that any stretch out of power leads to bloody and fractious intra-party pit fights. The Liberals really don't seem to know how to be an effective opposition. They also got spoiled by the meltdown of the political right in Canada after (purely metaphorical) torch-bearing mobs, denied the privilege of running Brian Mulroney out on a rail, immolated his successor (Kim Campbell, our first and only woman Prime Minister to date) at the polls and destroyed the Progressive Conservative party itself.
The Liberals need to rebuild. I'm not certain that Ignatieff is the one to do the rebuilding, though Liberal insiders seem to think so.
-- Steve will be watching Liberal policy statements closely to see how this coronation augurs for Canada's future.
PS: I guess when faced with a choice between Rae, with his unpopular term as Premier of Ontario, and Ignatieff, with his long stint as an expatriate, the Grits picked the heathen instead of the heretic.