Looks like it to me. At the least it certainly needs investigation. Consider Peter Kirsanow's post:
It's been nearly a week since Stanley Kurtz presented evidence
that Sen. Obama has seriously misrepresented his relationship with
William Ayers, yet there's no indication that news organizations are
pressing the candidate for an explanation.
Among
other things, Stanley shows that it's reasonable to conclude that Ayers
selected Obama, then a " young and inexperienced lawyer", to chair the
Chicago Annenberg Challenge. There, Obama and Ayers directed
substantial sums of money to radical organizations (see Stanley's
article today via the web briefing).
A few
years later, Obama launched his political career at a gathering at
Ayers home. The Ayers-Obama relationship certainly appears to be more
like a mentor—protégé relationship than it does Obama's description of
a random acquaintance of two guys who happen to live in the same
neighborhood.
Perhaps the media were too
preoccupied with the bail-out last week to follow up on the Ayers
story. Is no journalist interested in the relationship between a
presidential candidate and a terrorist?