Emanuel reaffirms White House backing Reid

WASHINGTON, Jan. 11 (UPI) -- U.S. President Barack Obama backs Senate Majority Leader Harry Reid, White House Chief of Staff Rahm Emanuel said Monday.

On the debut of "Daily Rundown," MSNBC's newest morning news entry, Emanuel also said that he isn't planning to leave his White House post.

Emanuel repeated Obama's expression of confidence in Reid, D-Nev., under fire for comments he made about Obama's race during the presidential campaign. Reid has apologized for his remarks that Obama may be successful because of his "light-skinned" appearance and lack of "Negro dialect" in his speech.

Obama said he accepted Reid's apology. Several prominent congressional Republicans have called for Reid's resignation.

"The book is closed," Emanuel said, adding, "Harry Reid has the absolute confidence" of the president.

Emanuel said Obama and Democratic leaders are concerned about "the challenges that are today in the country ... not something that happened a year ago."

Emanuel also squelched rumors he was leaving his chief of staff post any time soon.

"I am pleased to stay here as long as the president wants me to stay here," Emanuel said.

On other topics in the 10-minute interview, he said, reports of big bonuses being passed out on Wall Street have raised indignation and condemnation, but there is little legislatively that can be done, since the companies are private.

"They think they're immune" from helping to grow the economy through lending to families and small businesses since many large banks have repaid their taxpayer-backed loans, Emanuel said.

One possibility to exert some control would be to push for shareholders to have a greater say in compensation, Emanuel said.

Emanuel also said the administration and congressional Democrats must do a better job of explaining the healthcare reform, key to Obama's domestic agenda.

The goals of the reform bills now being reconciled in Congress are to control costs, ensure stronger patient rights against insurance companies and expand coverage in the nation's uninsured, he said.