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Geithner to Head Treasury

Federal Reserve Bank President Tim Geithner will be named Secretary of the Treasury by Barack Obama on Monday.

Following the reports, stocks on Wall Street skyrocketed adding 500 points on the day.

Geithner has a large resume and is well respected in the financial community. Since 2003 he has served as President of the Federal Reserve Bank in New York City. In 1999 he was appointed to Undersecretary of the Treasury for International Affairs. He served on the Council of Foreign Relations and was Director of Policy Development for the International Monetary Fund.

Other reports says that General James Jones will be appointed as National Security Advisor and Bill Richardson is under consideration for Commerce Secretary.

Statement from Obama on Mumbai Attacks

The Obama transition team has released a statement condemning the terrorist attacks in Mumbai.

“President-Elect Obama strongly condemns today’s terrorist attacks in Mumbai, and his thoughts and prayers are with the victims, their families, and the people of India. These coordinated attacks on innocent civilians demonstrate the grave and urgent threat of terrorism. The United States must continue to strengthen our partnerships with India and nations around the world to root out and destroy terrorist networks. We stand with the people of India, whose democracy will prove far more resilient than the hateful ideology that led to these attacks.”

Seven locations have been targeted and there is unconfirmed reports of 78 fatalities.

Clinton to Accept State

After a week of speculation, word comes that Clinton is on track to be nominated as the nation’s next Secretary of State. Today the New York Times reports that Clinton will accept.

Reports surfaced earlier that Clinton was unsure of whether to accept the post. According to the Times, Clinton came to the decision after much discussions with Obama about her role in the post.

This comes as Richard Holbrooke, the former UN Ambassdor in the Clinton Administration is rumored to be a top choice for Deputy Secretary of State.

Governor Paterson will appoint a Senator who will serve until 2010 when a special election will be held. In 2012, the seat will be up for a full term election. A Marist poll conducted showed that New York Attorney General Andrew Cuomo is the choice among New Yorkers to replace Clinton, though a large portion of the electorate remain undecided.

Napolitano Gets Homeland Security

Arizona Governor Janet Napolitano will head the Department of Homeland Security according to Democratic sources. While Obama has not offered the job, it is expected he will and that Napolitano will accept. Napolitano was also the Attorney General of Arizona from 1999-2002. She served as the Chair of the National Governor’s Association, the first woman to do so.

The Department of Homeland Security is responsible for border security, response to natural disasters and terrorist acts.

Napolitano was also a candidate for Attorney General and was widely expected to make a run against John McCain in 2010.

Napolitano had endorsed Obama in January.

Daschle to Head Health and Human Services Department

Former Majority Leader Tom Daschle will be named the next Secretary of Health and Human Services according to Democratic sources.

After losing his reelection bid in 2004, Daschle sent most of his aids to work for Obama and eventually encouraging him to run for Senate.

With Healthcare reform a top priority in the Obama Administration, the transition team looked for someone who knows and can work with Congress to draft legislation. DNC Chairman Howard Dean was another posibility for the post, but given his toxicity with Republicans and his lack of experience in Congress, was not seriously considered.

Begich Wins Senate Seat

With about 2,500 votes left to be counted, Mark Begich leads Republican incumbent Ted Stevens by about 3,700 votes, enough to secure him the Senate seat from Alaska.

Stevens, the longest serving Republican Senator, was convicted on seven counts of lying on Senate forms about receiving gifts from VECO Corporation and CEO Bill Allen.

The Democrats now have 58 seats in the Senate, with the Minnesota and Georgia race still undecided. The Minnesota race is undergoing a recount, while early voting has begun in the Georgia runoff.

Eric Holder to be Attorney General

Former Deputy Attorney General in the Clinton Administration, Eric Holder has been named by Barack Obama to be the next Attorney General of the United States.

Holder was first appointed Associate Judge for the D.C. Supreme Court by President Reagan and was later appointed Attorney for the District of Columbia by Clinton.

Sources in the Obama transition team says Obama has offered Holder the post of Attorney General and Holder has accepted. The transition team, however, is still vetting the candidate.

Holder would be the first African-American Attorney General.

More as it comes…

Kennedy Eastablishes Healthcare Working Groups

Senator Kennedy, Chairman of the Senate Committee on Health, Education, Labor and Pensions established three Healthcare Working Groups within the committee.

Prevention and Public Health: Chair Senator Tom Harkin
Healthcare Quality: Chair Senator Barbara Mikulski
Insurance Coverage: Chair Senator Hillary Clinton

Clinton once asked Kennedy to create a special Subcommittee on Healthcare reform, which she could chair. That request was denied by Kennedy, but it looks like Clinton may be part of a core group of Senators to work on Healthcare reform. As Chair of the Insurance Coverage Working Group, Clinton would be working on the heart of Healthcare reform.

Only one problem, Clinton may be heading to the State Department.