Powell Endorses Obama

Just minutes ago, in a sprawling and eloquent monologue on Meet the Press, Gen. Colin Powell (Ret.), former Chairman of the Joint Chiefs of Staff, overseer of the first Gulf War under President George Bush Sr., National Security Advisor and Secretary of State under President George W. Bush, and longtime McCain friend and admirer endorsed Barack Obama for President of the United States.

Calling Obama a "transformational figure," Powell went on to say that "Obama displayed a steadiness. Showed intellectual vigor. He has a definitive way of doing business that will do us well."

The move by Powell is a deep loss for the Republican, especially as Powell's endorsement speaks directly to his faith in Obama's national security abilities. Powell also said he was disappointed by McCain's campaign, and that Palin isn't ready to lead.

To watch the endorsement, click here.