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Monday, January 12, 2009
Senate Democrats to Swear In Roland Burris
Associated Press
WASHINGTON--Eager to put the scandal-tainted standoff behind them, Senate Democrats accepted Roland Burris as President-elect Barack Obama's Senate successor on Monday and said they expect to swear in the new Illinois senator this week.
"He is now the senator-designate from Illinois and, as such, will be accorded all the rights and privileges of a senator-elect," Senate Majority Leader Harry Reid and Sen. Dick Durbin of Illinois said in a joint statement after Senate lawyers determined that Burris' paperwork met Senate requirements to be seated.
The two senators said they expect Burris, a former Illinois attorney general, to be sworn in and seated this week, barring objections from Republicans.
The announcement is a major reversal for Senate Democrats. They initially balked at the surprise appointment by embattled Gov. Rod Blagojevich, who is accused by federal investigators of seeking to trade the Senate seat for personal favors, amid fears that any appointee would be tainted.
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FOX Translator
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A specialist is a member of a stock exchange who works as an auctioneer for a specific stock and/or stocks. It can be an individual, partnership, corporation or group of firms.
The specialist works to maintain a "fair and orderly market" for respective stocks, matching up buyers and sellers by displaying the best "bid" and "ask" prices at its trading post. If buys are not equal to sells, the specialist evens the scale by buying or selling shares, accordingly. However, they cannot make their own transactions until all investor orders have been placed.
Gauging supply and demand, the specialist sets an opening price for the stocks in its domain. If a price has not been set by the time the market opens, the specialist can delay that particular stock's opening.
Specialists make money off the "spread," which is the difference between bid and ask prices on orders.
