An independent or third-party candidate, whether an ideological one such as George Wallace or a non-ideologue such as John Anderson or Ross Perot, would fall short. But consider three ways a third candidate can affect the outcome of a presidential contest.

With Obama, the left thought they had finally elected a True Believer. But instead of delivering a second New Deal, it now looks like Obama may deliver the third Clinton term.

Immigration has become political poison for both parties, leaving the issue unresolved as both parties struggle to find a way to move forward.

The Cold War is an increasingly distant memory in American military minds, except in the minds of the arms control community, and in particular those who seek the elimination of nuclear weapons. Alas, our president is a member in good standing of this community—indeed, an organizer.

We are witnessing the consequences of the fateful collision of son preference, prenatal sex determination technology for gender-based abortion, and declining fertility levels.

Government agencies, the pharmaceutical industry, and humanitarian organizations must work together to stamp out counterfeit drugs.

In the United States and in Great Britain, parties that had previously enjoyed success with a center-left "third way" are now in trouble with voters as they have moved well to the left.

As a result of the subprime mortgage turmoil there has been considerable focus in the last year on the role of credit rating agencies in determining the risk or quality ratings on mortgage-backed securities. In this statement, the Shadow Financial Regulatory Committee examines some of the underlying structural problemsof credit rating agencies.