Specter Senate Defection Adds To Future Vote Uncertainty

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By Douglas A. McIntyre Updated Published
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Senator Arlen Specter has decided to switch parties, according to multiple news reports.  The senator from Pennsylvania is going to run in the 2010 election as a Democrat rater than as a Republican.  This sounds shocking on the surface because such party crossovers are rare.  But Specter has apparently been trailing in the polls behind challenger  Pat Toomey and other polls have noted that a majority of Republicans were not likely (or were less likely) to vote for him because he had voted across party lines to pass the stimulus package.

The issue here is that it could create a no-filibuster vote possibility depending on the ‘actual 60 votes’ versus a ‘perceived 60 votes’ that would help to allow for rubber stamp bill passages in the Senate.

Now that Wall Street has had to all but formally move its virtual policy-making headquarters to Pennsylvania Avenue in Washington, D.C., rather than in New York City, this could be a situation which makes some of the concerns of what lies beyond 2010 come even more front and center on votes immediately after today.

Hard line party members do not like to see this occur, and many often do not count their new party members as shoe-ins on votes.  And then there is the real issue to address.  Whether Specter can win in either party remains an uncertainty.

We have tried on three occasions to reach the Specter’s office for full confirmation, but it should be no shock that the phone number has been busy.  There is also no notice on his official website as of 12:15 PM EST.

JON C. OGG

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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