Liberals hope - and Conservatives fear - that Ignatieff can present himself as a transformational character, someone whose very personality reinvigorates the country's political life, in the same way that Pierre Trudeau or Barack Obama were agents of change.... Liberals hope - and Conservatives fear - that Ignatieff can present himself as a transformational character, someone whose very personality reinvigorates the country's political life, in the same way that Pierre Trudeau or Barack Obama were agents of change.

One thing the Liberals need -- say Liberals themselves -- is a policy convention. The last time the Liberals met to formulate policies was in Ottawa in March 2005. The keynote speaker on the Friday before the conference began was none other than a Harvard professor named Michael Ignatieff. He spoke about small-l liberalism and the state of the Canadian Liberal Party. Here's that speech ...

Were you a federal Liberal candidate in the 2008 general election? Are you a current Liberal riding association president? Do you know one? If so, we want to hear from you as soon as possible. We want to ask you: Iggy or Rae?

"There is a sense in the party, and certainly in the caucus, that given these new circumstances the new leader needs to be in place before the House resumes. I agree. I recommend this course to my party and caucus. As always, I want to do what is best for my country and my party, especially when Canadians' jobs and pensions are at risk. So I have decided to step aside as Leader of the Liberal Party effective as soon as my successor is duly chosen . . ."