This Morning On The Stephanie Miller Show

The attorney for embattled Illinois Gov. Rod Blagojevich said yesterday that he does not believe Blagojevich will resign. The statement came after a review of President-elect Obama’s transition activities concluded yesterday that Obama and his staff had no inappropriate discussions with either Blagojevich or Blagojevich’s staff about filling Obama’s vacant U.S. Senate seat.

Caroline Kennedy, the 51-year-old daughter of President John F. Kennedy, has indicated her interest in filling the New York Senate seat being vacated by secretary of state designee Hillary Clinton. Kennedy’s interest in the seat could mean the continuation of a family legacy in the Senate that began 56 years ago with the election of her father as the then-junior senator from Massachusetts.

Detroit automakers are receiving strong signals from the White House that short-term help is on the way. President Bush said a bankruptcy in the auto industry would hurt the economy while the U.S. deals with the recession. Sen. Carl Levin (D-MI) said the relief package could reach $15 billion for GM and Chrysler.

The Federal Reserve is poised to cut its benchmark interest rate for the 7th time this year. Analysts expect the Fed to announce today that it will reduce the key rate by at least a half a percentage point to 0.5 percent, the lowest level in more than half a century.

Presidential electors in state capitols across the country yesterday formally elected Barack Obama as the nation’s 44th president.

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