clement.JPGIn breaking news today, Attorney General Alberto Gonzalez has announced his resignation. The chief of the Department of Justice was rumored to have delivered a letter of resignation last Friday, but the news did not make mainstream media until today. The White House will hold a press conference today at 10:30.

The rumored replacement on an interim basis is said to be Solicitor General Paul Clement. Clement was nominated by George Bush and confirmed by the Senate in 2005.

Sirius and XM are in the midst of a proposed merger under review by the DOJ. For merger watchers, this news should carry little or no impact on the process, as the anti-trust issues are currently in the hands of lower level regulators within the agency. However, in light of the recent Whole Foods court decisions, there is potential that higher ups within the DOJ may get their hands into the process.

Position - Long Sirius, Long XM