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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.

Begich Leading by 1,022

With about 24,000 votes yet to be counted, Democratic challenger Mark Begich leads Stevens Republican incumbent by 1,022 votes.

A vote to outs the convicted Senator Ted Stevens has been postponed as Alaska awaits the results of the election.

“After talking with many of my colleagues, it’s clear there are sufficient votes to pass the resolution regarding Senator Stevens,” DeMint said.

“The question now is timing. Some who support the resolution believe we should address this after the results of his election are confirmed in Alaska. For this reason, I will ask the conference to postpone the vote on Senator Stevens until Thursday,” DeMint said.

Stevens faces up to 35 years in prison.

Obama Team Vetting Clinton (Bill)

The Obama Transition team is vetting Bill Clinton’s finances, a sign that the President-elect is very serious about naming his former opponent as his Secretary of State.

Oddly enough, it is the former President who may prevent his wife from a possible promotion. The former President is being vetted for possible conflict of interests in the event his wife becomes the nation’s top diplomat. Clinton has receieved $30 billion since 2005 in contributions from around the world for the Clinton Global Initiative and has had some questionable foreign deals. If Bill Clinton passes the vetting process, it is likely he will offer his former Democratic rival to be Mrs. Foggy Bottom, though with almost a week of speculation, not naming her to the post may result in embarrassment to both parties.

If Obama nominates Clinton has his Secretary of State, it will be very reminiscent of Lincoln-Seward after the 1860 election. Lincoln, a little known former Congressman went on to beat the frontrunner, Senator Seward from New York, for the Republican nomination in a hotly contested nominating convention. Lincoln then went on to name Seward has his Secretary of State and served in that capacity for eight years.

Since speculation began about the New York Senator, former Secretary of State Henry Kissinger, Senator Kyl (R-AZ), Senator Dorgan (D-ND) and Governor Schwarzenegger (R-CA) have all expressed support of the possible nomination. Supporters of Obama on the progressive left, however, are spinning heads. Clinton, who voted for the Iraq Resolution, the Iran Qods Resolution and once famously said she would “obliterate” Iran in the event they attacked Israel with nuclear weapons is no flower to those who worked hard for Obama during the campaign. Clinton who said Obama was not ready to be Commander-in-Chief still has some party-building to do with these Democrats on the far left.

Other candidates in the running for State are Governor Bill Richardson and Senate John Kerry. who both endorsed Obama early in the primary.