November 21, 2008
Posted: November 21st, 2008 04:38 PM ET

From

(CNN) – Two sources close to the transition say that New York Federal Reserve President Timothy Geithner is “on track” to being offered the nomination for Treasury Secretary. The announcement will happen within days, possibly Monday, potentially with another member or members of the Obama economic team as well.

Filed under: Barack Obama • Economy • Transition 2008


JNC, California   November 22nd, 2008 12:53 am ET

President-Elect do what you need to do, put COUNTRY first!!!!! Rock on!!! AN ALLSTAR TEAM!!! That's how we will begin to fix this country!!!

Blue balloons   November 21st, 2008 9:41 pm ET

Wall Street gurus seem to think this is a great pick, so it's a great pick. The Economy is top priority right now, and Geithner fits the bill, not this whacko Paulson who is Treas. Sec. now. Our economy has been gutted, it's time to come together and re-build it. Change is coming.

Fla. Voter   November 21st, 2008 9:35 pm ET

President-elect Obama is making smart, pragmatic choices. After the prospective announcement of Geithner, the Dow went up substantially in the final hour of trading.

David   November 21st, 2008 9:22 pm ET

From a mangement perspective Obama continues to do just the right thing. The change comes not from having outsiders who are yes people (thats what Bush did) but by having smart people who like being in the lime light and like to be seen succeeding. Who thrive on shining in the spotlight. It makes them work very hard for success. People like this are hard to manage but when you are successful the results can be fantastic. When you think about it Obama has experience doing just this. He was president of the Harvard Law Review. Think about the egos he had to balance when he made decisions about who's work would be published in such an esteemed publication. Those are the same skills used in selecting a team of powerful and smart people who want to make their mark. Again from a management view difficult to pull off but when it works the results that can be obtained are fantastic.

Jon   November 21st, 2008 9:18 pm ET

Alaska is a beautiful state.
Worth planning your next summer travel for.

TFJ   November 21st, 2008 9:01 pm ET

President of the FRBNY, eh? I like it, I like it a lot.

No sarcasm here.

Pat in IL   November 21st, 2008 8:39 pm ET

To earle, florida....it's a good thing that Paulson "works well with this guy" because if he didn't, the transition would be a huge mess. I'm sorry you aren't optimistic about today's stock rally, but I'll start sleeping a little better. If Monday is horrible, then so be it, but I'll take today's news as good and hopeful news.

pam Eugene OR   November 21st, 2008 8:39 pm ET

The market liked this choice! Well maybe some Florida redneck didn't huh Earle.
I doubt he has 2 cents to put in the market. Earle is most likely listening to Hannity, O'Riley and Limbaugh who are calling this the Obama recession. God lord...he does not even take office for almost 2 months.
If it was not so far fetched I would find it funny. There are lots of Earle loons out there that actually believe the crap these right wing wack jobs feed them.
Enjoy the current situation brought to you by George W Bush. How are you liking him now Earle?

KofTX   November 21st, 2008 8:39 pm ET

Great Pick! We need some fresh ideas in that cabinet position

Frank, Dayton, Ohio   November 21st, 2008 8:22 pm ET

He sounds like a good choice, but in the words of Ronald Reagan, "there you go again!" Why does this have to be leaked out by "two sources close to transition" rather than the president-elect or an official, named representative of the president-elect? By my count, there are no official members-designate of the Obama cabinet.

Annjell   November 21st, 2008 8:16 pm ET

Awesome choice, Obama will need the best when he finally steps into the oval office.

Today, all the political news pundits kept asking the question, "why won't Obama do anything about the markets, auto industry?" I feel this is unfair talking points. For one, we have a sitting president. If everyone wants something done now before he steps into office, then first, the pres must step down, or maybe congress should submit articles of impeachment, I'm not sure if censure would do – until then there's nothing the president-elect can do.

bill for barack   November 21st, 2008 8:09 pm ET

It sure seemed to help the stock market today – up almost 450 points just on the announcement.

Jen, Cali   November 21st, 2008 7:59 pm ET

Dawn November 21st, 2008 6:09 pm ET
President- Elect is all reay serving our country.
_____________________

Huh? I didn't quite get what you were saying. Would you please repeat that. Thank you so much. Eagerly awaiting your reply.

Jen, Cali   November 21st, 2008 7:56 pm ET

vic November 21st, 2008 6:45 pm ET
I hope this man is as smart as I think he is. . . .
________________________________

Vic, please explain why you think he's as smart as you think he is. Thank you so much !!!!!!!!!!
Eagerly awaiting your reply.

Texas Teacher   November 21st, 2008 7:28 pm ET

Oh, shut up, earle, florida! :) Obama is choosing the BEST of the BEST! AND YES, a lot of them were and are close to the Clintons! What did you expect that he would just pluck his good buddies off the streets like your man Bush did? Obama is way too SMART for that! He has a plan to clean up the Republican mess! GET USED to it! You lost! Seriously!

chris from STL   November 21st, 2008 7:08 pm ET

Thanks a bunch Pres elect Obama. Great choice. The market liked your choice.

Griff   November 21st, 2008 6:58 pm ET

Mr Cafferty! The World is full of Dirt.... Dirt grows Food...
Transport is the Problem... Why buy anything from the USA..

AIPAC has just completed its control on washington!   November 21st, 2008 6:46 pm ET

the CHANGE has come to town!

NOT!

vic   November 21st, 2008 6:45 pm ET

I hope this man is as smart as I think he is.
We need a strong treasury secretary to cleam up this mess.
I am truly worried about our country – everything is a mess and will get worse before Bush leaves.

renee   November 21st, 2008 6:41 pm ET

Well well Earl from FL, is it because you wanted the job? idiot!!!!!

AIPAC control over washington is complete now!   November 21st, 2008 6:22 pm ET

the CHANGE has come to washington!

NOT!

Charles from Atlanta   November 21st, 2008 6:20 pm ET

It is about time!!!

mk   November 21st, 2008 6:16 pm ET

gee "earle,florida" we need more optimism from people like you.
Sheeeeeeeeeeesh..misery really does love company doesn't it.
WHy don'tcha go take a nap.

Dawn   November 21st, 2008 6:09 pm ET

Thank the Lord he was picked. Now let's pray the market will stablized or just drop minimally.
President- Elect is all reay serving our country.

Tex Ann ~~~~~~~   November 21st, 2008 6:04 pm ET

Geithner appears to be a pretty smart guy, so hopefully he can help get things back on track with the economy.
I know I appreciated the announcement today– I recovered a little of the losses I've encountered this week.... still a LONG way to go though.

Paul Wall in Dallas   November 21st, 2008 5:57 pm ET

great choice. the market reacted positively to the news. he'll do great.

Simmy   November 21st, 2008 5:56 pm ET

Let's get him on board quickly, so the market can gain some stablization!

beevee   November 21st, 2008 5:49 pm ET

Seems like a decent choice for Treasury secretary. Hope the media does not go too critical of Obama's selections. After all he has to run the country effectively with efficient people around him.

MN observer   November 21st, 2008 5:48 pm ET

Hey earle from florida, who do you think he should have chosen for the job? One of the local bankers or YOU!!

PURPLE HEART   November 21st, 2008 5:44 pm ET

AT LAST WE HAVE A HARVARD MATERIAL AS PRESIDENT AND IT FOLLOWS THAT HIS CHOICES ARE A REFLECTION OF SMARTNESS AND CAREFUL CONSIDERATION.BUSH WAS AND WILL ALWAYS BE THE "BIGGEST" ACADEMIC DWARF TO HOLD THE PRESIDENCY AND WE ALL FOUND OUT WHY THIS JOKE WAS NO LAUGHING MATTER.

ken   November 21st, 2008 5:39 pm ET

what is taking too long?

Griff   November 21st, 2008 5:38 pm ET

Just think CNN. How much of your Electronc Equipment is Grounded.... Straight into this Planet.... And Al Gore, say's it's no Problem to this Planet...

Logic   November 21st, 2008 5:38 pm ET

bitter much "earle,florida"???

earle,florida   November 21st, 2008 5:28 pm ET

Wow,another buddy of the chosen few,Paulson works well with this guy,so the market has a short cover rally,big deal,can't wait for Monday's open?

Just Think   November 21st, 2008 5:20 pm ET

I really wish they would select someone like Mitt Romney!

JohnS   November 21st, 2008 5:18 pm ET

excellent choice.

CHANGE is coming to Washington...

DOW climbed 500 points...

Farrell, Houston, Tx   November 21st, 2008 5:15 pm ET

THE STOCK MARKET SOARED AFTER HEARING GEITNER'S NAME.

sean, santa barbara   November 21st, 2008 5:12 pm ET

any more Israelis to be picked?

Kevin   November 21st, 2008 5:10 pm ET

Wow, excellent move Obama!

Abby   November 21st, 2008 4:57 pm ET

The market likes this guy. Stocks went up more than 500 points on rumors that he would be selected. This is the start of a good thing, God willing. PE Obama is very wise.

Funny CNN   November 21st, 2008 4:57 pm ET

How do they know for sure? Give it a rest, you just have to wait one weekend. He's going to announce on Monday. Relax.

Just another CNN poster   November 21st, 2008 4:56 pm ET

The stock market rallied after hearing this, but none the less.

Let the bashing by the right begin in four, three, two, one....................................

Willy Brown   November 21st, 2008 4:53 pm ET

If Obama farts side ways CNN would have here on the Ticker for comments and hoew good it woul dbe for America.

Faith Restored   November 21st, 2008 4:52 pm ET

And the negtiave nitpicking have nothing to contribute about what THEY are going to do as patricotic lovers of the U.S.A. to help our PE clean up 8 long years of the shameful mockery Bush has led us to folks in 6...5...4...3...2...1...

Michael, Houston Texas   November 21st, 2008 4:52 pm ET

Oh guess what Obama Haters, the market is up 500 points after President Obama made a key decision. Well lookie here, can't use that as a complaint anymore losers. So let's see, the GOP government makes a decision, market crashes, the incoming, not even started yet, Democratic Govt makes a decision, market rebounds. Now shut your pie holes and get ready to start enjoying life again!

Spencer/NY to VA   November 21st, 2008 4:51 pm ET

I'm not sure about this Geithner fella. From looking at his record, I would gather that he is part of the problem on Wall St. albeit today's 500 point rally due to suspicions of him being named Secretary.

Anna, ATL   November 21st, 2008 4:50 pm ET

happy day!

joe   November 21st, 2008 4:46 pm ET

I love this guy..

This is the end of Bush error!

Lillie   November 21st, 2008 4:41 pm ET

GOOD!

ken   November 21st, 2008 4:40 pm ET

nice!

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