President Obama's nominee for the U.S. Supreme Court, Judge Sonia Sotomayor, made her mark on the municipal bond market when she presided over a case in 1995 involving kickbacks for a New Jersey muni bond deal.

Sotomayor, a federal judge with the U.S. Court of Appeals for the Second Circuit, was tapped yesterday to replace retiring Justice David Souter. If confirmed by the Senate, she would be the first Hispanic to serve on the nation's highest court and the third woman. But her confirmation is likely to be controversial for some conservatives because of her liberal rulings."President Obama chose the most radical of all the frequently mentioned candidates before him," said Roger Pilon, vice president for legal affairs at the conservative Cato Institute. "There will likely be an extremely contentious confirmation battle ahead."

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