Though some economic analysts believe it would be helpful for Obama to name his econ team, it is laughable for Rove to blame the market’s problems on Obama. Indeed, the market is much more likely reacting to yesterday’s “grim economic data,” which included “a 16-year high in weekly unemployment claims and the failure of Congress to reach a deal to help U.S. automakers.”

Rove says the market is “trying to look four months, six months, a year in advance.” That may be so, but anyone hedging their bets is probably much more concerned about the economic outlook released by the Fed on Wednesday — warning “that a recession believed already to be underway could last until mid-2009 or later” — than who Obama picks to head the Treasury Department.

But is Karl onto something? Today the market rallied with the Dow jumping 500 points
and, at least according to CNN, a good portion of that rally can be tied to Obama's pick of New York Federal Reserve President Timothy Geithner as his new Treasury Secretary. Could Rove actually be right? Nah...

Also expected Monday -- an announcement that former U.N. Ambassador and Energy Secretary in the Clinton administration, New Mexico Governor Bill Richardson, will be Commerce Secretary.

Now this is interesting. Obama needs to hustle on his economic team to send a message to the markets to calm the fuck down. Bill Richardson is an interesting choice in Commerce. Not sure where I stand on it yet.

As a reminder, here's what Wikipedia says the Secretary of Commerce does:

The United States Secretary of Commerce is the head of the United States Department of Commerce concerned with business and industry; the Department states its mission to be "to foster, promote, and develop the foreign and domestic commerce." Until 1913 there was one Secretary of Commerce and Labor, uniting this department with the Department of Labor, which is now headed by a separate Secretary of Labor.

"She's ready," one of the sources told the newspaper, which said Clinton came to her decision after additional discussions with Obama about the nature of her role as the top U.S. diplomat and his plans for foreign policy.

This is the most definitive report in a week of rumors, leaks, and speculation. Given the discipline Obama has instilled in his staff, one has to wonder how he feels about leaks from her camp on these issues?

"Somebody has to speak up soon," said CNN senior political analyst David Gergen, explaining that he understands why Americans are growing anxious and yearning for direction and leadership.

"I think ... sort of the bottom feels like it is falling out for many people," said Gergen, who has advised four presidents. "They sense there's a total lack of leadership in Washington, that the White House is silent, the treasury secretary has been battered, the Federal Reserve can't speak up. These automakers come up to Capitol Hill and fail. And the president-elect is silent in Chicago."

I guess Gergen can't wait for January 20 either.

On Role Of Attorney General: “The attorney general is the one Cabinet member who’s different from all the rest. The attorney general serves first the people, but also serves the president. There has to be a closeness at the same time there needs to be distance.” [National Journal, 3/3/06]

On Torture: “The notion that the Department of Justice would in essence sanction the use of torture as part of the President’s plenary power over military operations is as wrong as it is shortsighted. This position flies in the face of the entire history of American law, helping to create a climate in which unnecessarily abusive conduct can somehow be considered legitimate.” [Remarks to ACS Conference, 6/19/04]

“We must declare without qualification that it is the law, policy, and practice of the United States government that we do not torture people and we do not subject people to cruel, inhumane, or degrading treatment.” [ACS Conference, 6/14/08]

On Closing Guantanamo: “Guantanamo Bay is an international embarassment. Some of our closest allies see this prison as a symbol of what America has become. We should close Guantanamo Bay, transfer the remaining prisoners to military prisons in the United States.” [ACS Conference, 6/14/08]

On Extraordinary Rendition: “We must end all U.S. government practice and programs, covert or otherwise, that transfer individuals involuntarily to other countries that are known to engage in torture.” [ACS Conference, 6/14/08]

Promising...

The appointment has not been announced, but these officials said the job is Daschle's barring an unforeseen problem as Obama's team reviews the background of the South Dakota Democrat. They spoke on condition of anonymity because they weren't authorize to discuss the matter publicly.

Daschle was elected to the Senate in 1986 representing South Dakota and was majority leader on and off between 2001 and 2003. His Wikipedia entry has already been updated with the new title. Funny.

Tuesday's tally of just over 24,000 absentee and other ballots gave Anchorage mayor Mark Begich 146,286, or 47.56 percent, to 143,912, or 46.76 percent, for Stevens.

That puts the Democrats one step closer to the fillibuster-proof 60 seeats with Georgia and Minnesota in a run-off and recount, respectively.

According to the article, challenger "[Mark] Begich will be the first Democrat to represent Alaska in the Senate in nearly 30 years. He is the son of Nick Begich, Alaska's third congressman, who died in a plane crash 1972 while running for re-election.

Holder, who served as deputy attorney general during the Clinton administration, still has to undergo a formal “vetting” review by the Obama transition team before the selection is final and is publicly announced, said one of the sources, who asked not to be identified talking about the transition process. But in the discussions over the past few days, Obama offered Holder the job and he accepted, the source said. The announcement is not likely until after Obama announces his choices to lead the Treasury and State departments.

The biggest hurdle he apperently faces is that he did not raise a red flag at the pardon of fugitive financier Marc Rich when Holder worked in the Clinton administration. The pardon continues to haunt Clinton and anyone associated with it.

Coffee First!

This week will see the club review membership for a couple of outcasts. One is Joe Lieberman, a lapsed Democrat and newly registered Independent who nonetheless still caucuses with his former party and, for the most part, is still voting with them. But he campaigned for Republican candidate John McCain and said some disgraceful things about Democrat Barack Obama. Should he really be allowed to keep his plum committee seats, including his chairmanship of the Homeland Security and Governmental Affairs Committee? Old Joe has threatened to bolt to the GOP if he loses his chairs but I say good riddance. The Democrats picked up enough seats that it’s not imperative they keep him. His stance on Fourth Amendment issues is enough for me to give him the bounce, but Democrats are in a forgiving mood having stomped the Republicans on November 4 and Obama himself has said bygones should be bygones.

Then we have Alaska Republican Ted Stevens. Old Ted was convicted of seven felony counts last month for lying on his financial disclosure forms to conceal more than $250,000 in gifts from in gifts and home renovations from an oil field services company. Some Republicans, surely hurting from an especially tough two election cycles that focused on corruption and incompetence, want to give him the heave ho! But Senate Republicans have decided to wait and see if an ongoing recount will do their dirty work for them.

We’ll see if either of them survive but membership clearly has it’s privledges.

UPDATE: Senate Dems Vote to Let Lieberman Off the Hook

Today during a press conference with Lieberman and other Democrats, Senate Majority Leader Harry Reid (NV) claimed that he was “angry” by Lieberman’s actions, but said that “we’re looking forward, we’re not looking back.”

Angry, eh? So what?

Sullivan sees it as a shrewd political move:

And that is what the appointment is about as well. She won't be able to destroy Obama from Foggy Bottom, and Obama's destruction is necessary for a Clinton revival. Take it from a veteran Clinton-hater. Obama knows how to handle them just right.

What that they say about the proximity at which you keep friends and enemies…?

Politico reports:

Some GOP aides say Republican senators might not be in a mood to oust Stevens from their conference if it looks more and more likely that Stevens won't close the gap with Democrat Mark Begich, who now leads by more than 1,000 votes in the ongoing Alaska election recount. Vote counting will continue Tuesday in Alaska.