The Senate’s Democratic leadership appears to have come around to recommending that Lieberman keep his prized chairmanship.

Kos also has some thoughts on the proposed ‘punishment’.

TPM Reader GB sends this along about GE …

Through its GE Capital subsidiary gets about from 30-50% of its revenue from the finance business. So bailing it out makes as much sense as bailing out AIG or the investment banks.

And in terms of assets, it’s leveraged also – about 80% of GE’s total assets are controlled by GE Capital. So it’s better to think of it as a bank with an industrial base, rather than an industrial company that does financing.

As the WSJ article I linked to makes clear, this is definitely the case. But I don’t think GE’s huge stake in its finance arm is actually what makes it eligible for the federal guarantee. It’s the two banks proper that it owns that does that. And that still strikes me as a backwards way to make policy.

On a more general note though, GE’s heavy reliance for profits on its finance arm seems troubling to me for a different reason. It gives me the sense that the profitable parts of our real economy — as opposed to the inflated finance economy — were only profitable — or mainly profitable — because they’ve wedged their way into the paper economy.

About that Guardian story reporting that Hillary’s going to accept Obama’s State Department offer … Regular readers know I put next to no stock in what the British papers report about American politics. And in this case, I’ll believe it when I see it with some real sourcing and from another news outlet.

Mind you, that doesn’t mean I don’t think it’ll eventually happen. The latest chatter I’ve heard is that it’s well on the way to being a done deal (though the rationale still escapes me). I’m just not buying this as confirmation.

Focus on the Family eliminating 202 jobs, biggest layoff ever.

Joe Lieberman’s fate to be decided today, by a very forgiving Democratic caucus. That and the day’s other news in the TPM Election Central Morning Roundup.

Contrary to her reputation in some quarters, Hillary is seen by some within Obamaland as a consummate team player.

Obama makes a surprise speech via video this morning to the Governors Global Climate Summit in Los Angeles.

Democratic senators come together and make up with a mildly repentant Joe Lieberman.

He keeps his homeland security committee chairmanship, but relinquishes a subcommittee chairmanship and a seat on the separate Environment and Public Works Committee. And the Dem caucus passes resolution “rejecting” Joe’s remarks about Barack Obama during the campaign.

Nobody knows for sure yet if Hillary Clinton will be the next secretary of state. But of course that hasn’t stopped the world of television pundits from weighing in on the possibilities …

Full-size video at TPMtv.com.