What's worse, the grades or the picture?

So what was John Kerry hiding all this time? Which would have been more damaging to the candidacy? His dumber-than-Bush grades at Yale, or this picture?

HT: Samizdata (via Alarming News), in an excellent post about the fact that Kerry apparently still has not released all of his records, and those he has released were released only to his friendly hometown paper. Neither Kerry nor the Globe will release even the partial records to the public.

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