Barack Obama has picked Sonia Sotomayor to replace David Souter as Supreme Court justice when he steps down later this year. Sotomayor would be the first Hispanic justice and only the third woman to serve on the nation’s highest court. The Republicans are sure to attack Sotomayor for various reasons even though she was first appointed to the bench by George H.W. Bush and confirmed by some of the more rabidly conservative Senators including Jesse Helms and Rick Santorum. Glenn Greenwald lays out some of the likely attacks here. But what is the significance of Obama’s decision?

Jane Hamsher founder of Firedoglake, Lynn Paltrow Executive Director of National Advocates for Pregnant Women, and Jose Perez an attorney with Latino Justice on the Sotomayor selection.

Then will Obama’s “common sense” credit card reforms change much of anything? Danny Schechter the author of Plunder: Investigating Our Economic Calamity and the Subprime Scandal, Jose Garcia, Associate Director of Policy and Research at Demos and the co-author of Up to Our Eyeballs, Anne Sullivan Publicity Director of The New Press, and Jonathan Shamis Executive Director of Alpine Legal Services discuss the new legislation.

Finally, Jane Hamsher on efforts to audit the Fed. A bill drafted by Ron Paul is gaining steam in congress especially among Republicans. Why are Democrats stalling? You can support Democratic Congressman Alan Grayson’s work to get co-sponsors here.

Thanks to Danny Schechter, Kate Clinton, and Washington Stakeout for video in tonight’s show.