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I completely disagree with your take. The Clintons are not "wrong" or "going too far."
They are intentionally distorting the facts, twisting Sen. Obama's words, and taking his quotes out of context.
When you do that, another word for it is "lying." It's all the more shameful that they're doing this, because this is exactly the same thing that's been done to them for more than 15 years.