Unconfirmed-Breaking: Kirsten Gillibrand to be appointed as the new Jr Senator of NY?

Update: Politico picked it up and notes the voting record issue is on guns. Gillibrand has a top rating with the NRA and has written amicus briefs in support of gun rights per the piece. Remember, upstate NY is quite red, and this position while right of many DEM comfort zones, makes her an attractive 2010 campaign prospect for Paterson…:

Still, Gillibrand’s pro-gun positions have aroused opposition in a state where most Democrats, and many Republicans, favor stringent gun control measures. She earned the NRA’s top rating last year and backed a repeal of Washington D.C.’s hand gun ban—even submitting an amicus brief to the Supreme Court in support of pro-gun groups.

“She would not be my choice and I talked to the governor about it two weeks ago,” McCarthy told Politico last night. “This morning I basically started getting calls saying he was going to choose her and I had to speak out, even at the risk of alienating the governor. I do not believe New York should have a senator who has these positions… I just came through the 15th anniversary of when my husband was killed and I my son was maimed from the shooting.”

Several anti-gun groups, including New Yorkers Against Gun Violence, spent Thursday calling Paterson’s office to urge him to pick someone else.


all ROY no confirmation yet, but if accurate, Congratulations Rep. Gillibrand!!


As it just broke  by WPIX:

PIX NEWS is being told that Congresswoman Kirsten Gillibrand is the reported choice of Governor David Paterson to fill the U.S. Senate seat vacated by Hillary Clinton.


Two members of that delegation, agreeing to speak without attribution, told me that the Governor has telephoned New York’s Democratic members of  Congress for their views after Caroline Kennedy withdrew herself from consideration.  One of the contenders, longterm Congresswoman Carolyn Maloney canceled a scheduled appearance on “PIX News Closeup” tomorrow because of a “conflict,” which she did not disclose. She too will be in Albany. According to the sources, Gillibrand, now in her second congressional term, was favored by Secretary of State Clinton herself. Paterson has been under pressure to select a woman.

With most Democratic leaders in Albany coming from the New York City area, one source said this would be an important move for the Governor to have a Senator from upstate. Sources say Gillibrand would be an asset to Paterson in any bid for election in 2010.

While some insist Gillibrand is the Governor’s choice, another New York Congressman cautioned tonight that “It’s not a done deal.” He claims there is some political in-fighting and ongoing conversations with the Governor. There appears to be some challenge to Gillibrand’s voting record.  She’s now serving her second term. Reached for comment, the Dean of New York’s Congressional delegation, Charlie Rangel, would say nothing more than that he’s been invited to join the governor for an announcement tomorrow morning.

More on Rep. Gillebrand from her House website:

In her first term in office, Congresswoman Gillibrand has established herself as an independent leader in Congress. She was the lead sponsor of legislation that would implement the bipartisan 9/11 Commission Recommendations, which will help protect our borders and keep America safe. She has been an advocate for decreased federal spending, and introduced legislation that would require the federal government – just as all New York families do – to balance their budget every year. Finally, she has made tax cuts for Upstate and North Country families, one of her highest priorities. She has authored legislation that would double the tax credit for child care expenses and make up to $10,000 in college tuition tax deductible.

Congresswoman Gillibrand has taken unprecedented steps to make her office accountable and transparent to her constituents.  She was the first Member of Congress to publish their public schedule online at the end of each day, and as a strong proponent of earmark reform, she voluntarily released every earmark that she requested that would invest in Upstate and North Country priorities.

Congresswoman Gillibrand serves on the House Armed Services Committee and the Agriculture Committee . On the Armed Services Committee, Representative Gillibrand serves on the Terrorism, Unconventional Threats and Capabilities subcommittee and the Seapower subcommittee. On the Agriculture Committee Representative Gillibrand serves on the Livestock, Dairy and Poultry subcommittee, Conservation Credit Energy and Research subcommittee and the Horticulture and Organic Agriculture subcommittee.

In addition to her committee assignments, Congresswoman Gillibrand founded the Congressional High Tech Caucus with Representative Michael McCaul (R-TX) with the goal of ensuring that the United States remains at the forefront of emerging technologies and high tech industries.

During the administration of President Clinton, Gillibrand served as Special Counsel to the U.S. Secretary of Housing and Urban Development, Andrew Cuomo. At HUD she played a key role in furthering HUD’s Labor Initiative and New Markets initiative, working to strengthen enforcement of the Davis-Bacon Act and drafting new markets legislation for public and private investment in building infrastructure to revitalize lower income areas across the nation. Following federal service, Congresswoman Gillibrand entered the private sector, joining one of the Country’s premier law firms. As a partner in the firm, she worked on a wide range of legal and policy related issues, requiring the knowledge and ability to negotiate on the highest levels, skills which serve her constituents well as a Member of Congress.

Kirsten Gillibrand is a firm believer that those in a position to do so have an obligation to “give back” by serving their community. In addition to her responsibilities at the law firm, she maintained an extensive pro-bono practice for clients whose voices are seldom heard and needs seldom addressed. Her service on behalf of abused women and their children, and tenants seeking safe affordable housing without lead paint hazards has been tireless. At the heart of Representative Gillibrand’s core values is the inspiration of her grandmother, Dorothea (Polly) Noonan, who was a founder of the area’s first Women’s Democratic Club and was a pioneer for women’s rights in the region.

Carolyn Maloney was our first choice at MiM, but Rep. Gillibrand is also very well qualified and has been an elected public servant to the people of NY. She knows her constituents upstate and their needs and has wider, national experience as counsel to…. wait for it…Andrew Cuomo! small small world is politics….congratulations NY!!

January 22, 2009. Tags: , , , , , , , , . Economy, Finance, Hillary Clinton, Housing, Labor Department, Politics, TARP, Unemployment Statistics. Comments off.

Senate passes Fair Pay Act…to the House then POTUS for signature


(Recvd via Email): Today Senate Democrats led the way in passing S. 181, The Lilly Ledbetter Fair Pay Act, by a vote of 61-36. S. 181 reflects Senate Democrats’ commitment to ending pay discrimination and providing adequate means of relief to those who have been discriminated against. The bill would restore the “pay-check accrual” interpretation to ensure that employees who can prove pay discrimination based on race, color, religion, sex, national origin, age or disability can seek redress as long as the discrimination continues. It goes without saying that this victory could not have been achieved without your advocacy efforts.


January 22, 2009. Tags: , , , , , . Economy, Hillary Clinton, Housing, Immigration, Labor Department, Politics, Unemployment Statistics. 1 comment.

Breaking: Lewis throws Thain overboard…Thain ‘resigns by mutual agreement’ from Merrill/BoA…

…But can Ken Lewis survive the kerfuffle?? Full Disclosure, I am a Merrill, now BofA shareholder. So Thain helped Merrill survive in one sense and did his full fiduciary duty to Merrill *perhaps* by keeping it alive through the BofA merger…but did Ken Lewis do his FD by BofA shareholders? And what about due diligence on the deal in mid December when the losses started mounting?

Bank Of America Personnel

In this Sept. 15, 2008 file photo, Merrill Lynch Chairman and CEO John Thain, left, smiles as Bank of America Chairman and CEO Ken Lewis, speaks at a news conference in New York. Thain will remain with Bank of America after it completes its acquisition of his investment bank, and serve in a role similar to the job he's held at Merrill. He will oversee global corporate and investment banking and most of BofA's global wealth and investment management operations. (AP Craig Ruttle)

And no one will cover this, but I want to know, did BofA’s refusal to voluntarily modify mortgages under FDIC outline by Sheila Bair, ultimately cause it’s own continued losses and pain in the Merrill MBS losses? Cause if so, isn’t that ironic? ( if no less painful to me as a shareholder or homeowner, very Alanis Morrisette) !!! I betcha the answer to that is a great big YES. Harakiri by stupidity and refusal to help the little guy eh? IT’S THE HOUSING STOOPID!!!!

On another note, this Thain/Lewis melodrama is an ongoing conflict we will see repeated b/w commercial banking and Wall St corporate cultures….yep…notice how CITI never got past that in its ginormous amalgamation of diverse corporate cultures…(For those keeping track the BofA/Merrill group combined has 25 Billion in TARP funds at last count)

CNBC reports:

Thain’s resignation comes less than a week after Bank of America was forced to seek $20 billion in government bailout money to absorb Merrill, which it agreed to buy last September amid the credit crisis.

The extra government money was needed because of an unexpected $15.31 billion loss by Merrill in the fourth quarter. The government also agreed to share in losses on about $118 billion in Merrill debt.

The relationship between Lewis and Thain has been strained because of Merrill’s unexpectedly large loss.

Merrill, meanwhile, decided to move up its year-end bonuses, doling out cash just days before it was officially acquired by Bank of America, it was reported earlier Thursday.

Expect LOTS more on those bonuses Merrill paid out….

WOTS is that Ken went to Treasury mid-December to say the merger was in jeopardy when the Merrill losses kept mounting as the market continued downward….Lewis has indicated Treasury told him ‘do the deal we have your back’!

So, Ken apparently feels this is sufficient to cover HIS fiduciary duty to the BofA shareholders since he never told them/us about the pending Merrill losses prior to the BofA shareholder vote on the merger…

Someone… Ken clearly, has the long knives out for Thain, Charlie Gasparino is on CNBC Live releasing the details of the million dollar makeover Thain gave his exec suite at Merrill…I was burned by Thain as a New York Stock Exchange shareholder also, that tanked on his watch too…but how much is what was happening on the street at the time?

Will we BofA shareholders in the common stock live to see another year as a free company of capitalism? How much farther can our common share equity be diluted by capital injections by the government? Inquiring minds, and my mom’s pension fund, want to know!!!

More as it continues to develop….

January 22, 2009. Tags: , , , , , , , , , , , , , , . CITI, citigroup, Economy, Finance, Foreclosures, Housing, Music, Politics, Popular Culture, TARP, Wall St. 9 comments.

Update: Maloney named Chair of Joint Economic Cmte…Hillary is in as SoS, Caroline is out as NYS Senator….Everything’s Comin Up Roses!!!!

Update: 9:39am EST: Hey some more tidbits that sound promising for our pick Carolyn Maloney via AP by way of MyWay News:

The Kennedy reports came hours after Maloney, some Democrats’ top choice, was named chair of the Joint Economic Committee in Congress. That’s a significant move because Paterson had made it clear the next senator’s top job should be to help land a federal stimulus package to help New York out of its historic fiscal crisis.

MiM here, Damn straight we need economic chops right now! We want Maloney! or Cuomo! Let’s hear it for meritocracy and experience!! WOOHOO!!!!

From Carolyn Maloney’s official Congressional site:

Washington, D. C. – Today Speaker Nancy Pelosi appointed Congresswoman Carolyn B. Maloney (D-NY) to chair the Joint Economic Committee (JEC).  Congresswoman Maloney served as the Vice Chair of the JEC during the 110th Congress.  Former Chair Senator Charles E. Schumer (D-NY), is now the Vice Chairman.   The JEC is a bicameral Congressional Committee established by the Employment Act of 1946, the same legislation that created the President’s Council of Economic Advisers.

Congresswoman Maloney said, “I am honored that Speaker Pelosi has appointed me to the Joint Economic Committee (JEC) in the 111th Congress.  In such an historic year, I am pleased to work with our first woman Speaker as the first woman to chair the JEC.  I look forward to working closely with President Obama’s economic team and to continuing to work with Senator Chuck Schumer as Vice Chairman on long-term solutions to the grim economic situation facing our country– and putting the needs and concerns of America’s working families front-and-center in Washington.”

Carolyn Maloney & her book about women's progress in WNYC studios

Carolyn Maloney & her book about women's progress in WNYC studios

Senator Schumer said, “Carolyn Maloney has been a great partner over the last two years as the JEC examined serious problems affecting middle class families and offered up real solutions to help those families and our economy as a whole.  From the exorbitant costs of the war in Iraq, to the fallout from the subprime mortgage crisis, to the benefits of increased energy efficiency, the JEC has covered a lot of ground over the last two years.   I know that Rep. Maloney will direct the committee to continue to look out for middle class families and promote the ideas and policies that benefit them and our overall economy during these difficult times.”

Congresswoman Maloney, working with Senator Schumer, has drawn attention to the failed economic policies of the Bush Administration that have contributed to our current economic woes: the mortgage and credit crisis, the enormous cost of the war in Iraq, high gas and food prices, rising unemployment, record-setting public debt, and widening income disparities.  In the 111th Congress, the Committee will continue focus on the crisis and recession as they unfold and the complex set of related issues – the labor market, the housing market, consumer spending and credit, as well as economic recovery and stimulus measures and the reform of financial regulation.

Caroline is flipflopping her way out of the race for Hillary’s seat, YAY YAY HAPPY DANCE!!! Her chance to make a ‘graceful’ exit, she hasn’t quite gotten the ‘graceful’ part down yet, snark, but it is OVAHHH, she is done, crispy fried, TOAST!! NO NY SENATE SEAT FOR YOU!!!!!! as Soup Nazi would say!!

linky here warning NY Times, ugh..it was personal reasons, ie after she found out she DIDN’T GET IT, she dropped out to save face…too late! ya know??

here is Caroline thinking she is NY Senator…

MiM is on cloud nine, and we will sing all frakin day…

Hit it Ethel, with the real thing!!!

everything’s comin up roses!!!!!

Here’s hoping Carolyn Maloney gets this seat! or Andrew Cuomo!! or Fran Drescher!! (who is -like moi- from Queens), or ANYONE other than caroline kennedy….


January 22, 2009. Tags: , , , , , , , . Hillary Clinton, Politics. Comments off.

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