November 24th, 2008
12:40 PM ET
6 years ago

Obama names his economic team, led by Geithner

Obama officially named his economic team Monday (from left: Geithner, Romer and Summers).
Obama officially named his economic team Monday (from left: Geithner, Romer and Summers).

NEW YORK (CNNMoney.com) – President-elect Barack Obama named key members of his administration's economic team Monday, including New York Federal Reserve President Timothy Geithner as his Treasury Secretary nominee and former Harvard President Lawrence Summers as the director of the National Economic Council.

Obama's announcement was scheduled just hours after the federal government announced a massive rescue package for Citigroup – which President Bush said he'd spoken with Obama about before it was announced.

Mission No. 1 over the next few weeks for Obama's economic team will be hammering out the details of what the president-elect described this weekend as a two-year economic recovery plan intended to create 2.5 million jobs.

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Filed under: Obama transition
soundoff (137 Responses)
  1. Anna, Missouri

    nom deplume--May I suggest to you that you go to the Wall Street Journal website and read the article-UBS Clients Seek U.S. Amnesty-before you send any money off shore to hide it from paying taxes. Obama has promised to put an end to this practice, and it seems that George Bush's administration has already taken the lead. :) .

    November 24, 2008 03:20 pm at 3:20 pm |
  2. KG

    2.5 million jobs? Good luck with that especially with the taxes you and the rest of the Dems are threatening to levy against business and the major investors of this country. You can't grow jobs by robbing from the rich and giving to the poor (unless you consider being on welfare a job). Businesses and the wealthy will not absorb these costs. They will offset them by raising prices, cutting jobs, moving jobs overseas, cutting or stagnating salaries, etc.

    November 24, 2008 03:21 pm at 3:21 pm |
  3. Michael M. Noonan

    Dear American,

    You claim "here we go again" because the face of an African American is not shown. I admire Obama, although I didn't vote for him. I wish him all the best.

    As for your protracted historical whine, may it be silenced by the intelligent words of a seemingly good man.

    November 24, 2008 03:23 pm at 3:23 pm |
  4. carment

    @Armando: "Funny how all these people that think this is a good choice and change aren't going to be thinking the same in a year or two. Obama has no clue about basic economics."

    Reading the tea leaves and tarot cards again, are you? lol

    November 24, 2008 03:23 pm at 3:23 pm |
  5. chuck

    I hope that George Bush reads this BLOG. This is the REAL MISSION ACCOMPLISH.

    November 24, 2008 03:24 pm at 3:24 pm |
  6. Change it is

    Change is determined by how Obama acts on his ideas, so it doesn't matter who will support or carry out those ideas. These members can have any affiliation from the past, because it's about how things will take shape now, not 16 years ago.

    November 24, 2008 03:26 pm at 3:26 pm |
  7. Goddess

    I can't wait for Obama to take over.

    November 24, 2008 03:29 pm at 3:29 pm |
  8. rm

    ATTENTION ALL POSITIVE PEOPLE:

    If we ignore the negative individuals on these sites and just speak among ourselves, they will go away. Don't give them the attention they are looking for. So positive people, Obama is doing a great job as President (Elect) isn't he? Thank God he won!!!

    November 24, 2008 03:30 pm at 3:30 pm |
  9. Vinit

    As a student at the University of California, Berkeley, I can safely say Christina Romer will do an amazing job. Though I didn't support Obama in the election, I think this is a great choice. Congratulations, Christina!

    November 24, 2008 03:30 pm at 3:30 pm |
  10. rm

    @Jim...TX:

    Sorry, I did not mean to write to you, it was meant for PEPE. Peace.

    November 24, 2008 03:32 pm at 3:32 pm |
  11. idm

    I'm not that familiar with these people, and I'm certainly not on top of the economics of this country. That being said, I have to give props to PE Obama for even TRYING to get something accomplished, unlike a certain sitting president who seems to have 'checked out' already. To all the doubters, naysayers and angry Republicans I say give the man a chance. We've done it 8 years your way, and it obviously hasn't been what you would call a rousing success. Let's see what someone else can do. It can't be any worse than W's accomplishments.

    November 24, 2008 03:34 pm at 3:34 pm |
  12. John Morris

    My predictions for the newly elected Obama. I predict within 2 years he will be changing the name of the White House. He will say it is racially named and needs to be changed. this is my prediction for Obama, lets all wait and see if it happens.

    November 24, 2008 03:35 pm at 3:35 pm |
  13. Alice Newman Center Harbor NH

    ... for all those commenting on Obama's economic skills? You would rather have McCain who bragged about how little he knew about the economy???

    Guess what! Obama is an intelligent man who knows who to ask to find answer to the questions. No one knows it all but smart people know how to form teams of people, working together, who can figure out the answers.

    All those gloom and doom people – its been less than a month – Obama is not even sworn in yet and you are moaning about things not changing! A little patience? If you aren't part of the solution, then you are part of the problem! Stop whining!

    November 24, 2008 03:35 pm at 3:35 pm |
  14. Corey

    david-- How can you say he is not doing what he said he would? Was he inaugerated already...wow I must have missed that one. OK lets think then...he wanted to get the best minds together to help him....ok so I guess he didn't pick...um...I don't know Santa...No wait the Fonz.... man some of the these lefties are just as bad as the hate filled righties....I just want my country to do well and I family to prosper.

    November 24, 2008 03:39 pm at 3:39 pm |
  15. Jeff

    Some are complaining, but one thing they won't point out is that the DOW has jumped up 450 points today, and 250 points alone since the noontime press conference.

    The market likes these picks, even as Republicans blame Obama for all the current problems.

    November 24, 2008 03:40 pm at 3:40 pm |
  16. Mike, Syracuse NY

    For all of you who are saying Bush should resign now, that just makes Cheney President. If both Bush and Cheney resign, the Speaker of the House (Pelosi) becomes president. If she resigns too, then it's the President Protem of the Senate, followed by the President's cabinet starting with Secretary of State. There is no constitutional mechanism for Obama to be sworn in early.

    November 24, 2008 03:44 pm at 3:44 pm |
  17. rm

    @Jim...TX:

    My first emai was not meant for you. Peace.

    November 24, 2008 03:48 pm at 3:48 pm |
  18. Otto

    I will appreciate all comments in the negative clearly state the reason(s) and what should be done to gain positive results.

    Everyone has his/her own views but if you believe your judgment is better and you have a better understanding to right the wrong; please state them clear and send them to the President elect.

    For those having nothing worthy to say and have no solution; please go away and have your head examined.
    Thanks!

    November 24, 2008 03:51 pm at 3:51 pm |
  19. A Canuck

    Thank you rm.....I am one of your positive people.......isn"t Barack doing a magnificent job ?? and he isn't even sworn in yet.

    November 24, 2008 03:53 pm at 3:53 pm |
  20. therealist

    2.5 million road paving jobs that is....

    November 24, 2008 03:55 pm at 3:55 pm |
  21. Frank

    A plan, a team, a victory for America and the American people!

    November 24, 2008 03:55 pm at 3:55 pm |
  22. ANAG LOS ANAGELES, CA

    GOOD JOB !!!!!

    BARRY 2012!

    November 24, 2008 04:00 pm at 4:00 pm |
  23. Laverne

    I am glad Obama chose Geithner for the Secretary of Treasury job. Summers use to be his mentor and with Summers committing to be the top advisor, what more can you ask for. Obama is a smart man and a clever politician. He will get the job done one way or the other. I get the feeling failure is not an option for Obama!

    November 24, 2008 04:08 pm at 4:08 pm |
  24. Laverne

    To Daniel: At last, someone who knows what they are talking about. You are exactly right. Change does not necessarily mean all new faces. Change also means change in platform, policy, diplomacy, vision and agenda. It is just like working for 2 different bosses withing the same company. They expect totally different things from you and at the end of the day, you carry out their agenda based on the vision that is set forth. It is as simple as that! CHANGE WE NEED AND CHANGE YOU CAN BELIEVE IN!

    November 24, 2008 04:13 pm at 4:13 pm |
  25. Downto earth

    Okay,

    all of the negative citizens on this board...If you are so intelligent, run for the White House in 2012!!! The MAN has not been in office yet and you fools are already calling him names. Give it some time..the GOP had 8 years to bring us down, it might take 8 more years to right evrything. Remember, life is like a circle....

    November 24, 2008 04:19 pm at 4:19 pm |
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