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Arlen Specter to switch parties

This is a bombshell from the political world. I believe that means Al Franken will make Obama filibuster-proof. Obviously, this is very bad news for Republicans. I suspect that the deal is that Rendell and Casey will pull out ALL the stops to get Specter re-elected too.

Confirmed that Sen Specter will become a Democrat (but he is still against EFCA as noted in his statement).

The GOP is dead in the the blue states for the foreseeable future.

I am with Kos, I see the Maine senators potentially switching now as well. They will have no legislative power anymore, so why stay with the GOP in a state where it will be easier to get elected as a Dem?

More from Daily Kos here.

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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty years of business experience. He is also a regular economic and financial commentator on BBC World News, CNBC Television, Business News Network, CBC, Fox Television and RT Television. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College. Edward also writes a premium financial newsletter. Sign up here for a free trial.