From the New York Times so its not just important here!!!:
"BUENOS AIRES — Néstor Kirchner, the former president and head of the governing Peronist Party, conceded defeat early Monday in critical congressional elections that became a referendum on his leadership and that of his wife, the current president, Cristina Fernández de Kirchner."
The opposition, a very wealthy man who spent millions of his own dollars on his campaign named De Naveraz, won with something like a two point lead. While I don't pretend to know anything but the tip of the iceberg when it comes to Argentine politics, I know that defeating Kirchner is kinda a REALLY big deal for all of those Argentines who hate the Kirchner political machine. Well now the Kirchners have lost their majority in the Congress and we'll see what happens. The biggest effect will be on Christina Kirchner's re-election in 2011. I'll stop before I sound like I'm pretending to know what I'm talking about, but this is pretty exciting!!!!! Just read the article and leave it to the professionals to explain it a little better.
Also, if you dare, an article from Argentine newspaper Clarin for a Castillano take on the story.