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

Obama names his economic team, led by Geithner

[cnn-photo-caption image= caption="Obama officially named his economic team Monday (from left: Geithner, Romer and Summers)."]NEW YORK ( - 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)

    Barack rules!

    November 24, 2008 04:22 pm at 4:22 pm |
  2. Jon

    looks like despite what Hillary thinks, Obama is going to be ready to lead on day 1

    November 24, 2008 04:29 pm at 4:29 pm |
  3. G.R.I.T.S. - Girl Raised in the South

    KG: Just as so many others who choose only to hear what they want, you are failing to recall the other part of the plan – to give breaks to those companies that create jobs and to penalize those that take jobs overseas. So, if employers want to go overseas, they can, it will just cost them. If they want to stay here and create jobs, they get a credit. That's the other half of the plan you, and others like you, keep complaining about. You can't just take one side and beat it to death, it makes you look ignorant and like you've been feasting on sour grapes.

    To Peter: Sarah? Palin? Brings dialogue to the table? Honey, she can't even spell d-i-a-l-o-g-u-e. She brings nothing to the table except her own ego.

    November 24, 2008 04:29 pm at 4:29 pm |
  4. Chelsea

    I KNEW there was a reason that my neighbor's bosses....professors...and I (and anyone else that I spoke with during the campaign..) voted for you... I agree with all who said it before: let's just move Bush out now. I will personally wrap his little knick-knacks in bubble wrap if he promises to leave tomorrow...and move the new COMPETENT president and his beautiful family into the WH...

    November 24, 2008 04:29 pm at 4:29 pm |
  5. Sue

    The country ignored experience when it came to electing a president. Why should we now care about experience in any part of governance?

    November 24, 2008 04:37 pm at 4:37 pm |
  6. Beverly, NYC

    Oh My a press conference with a purpose. Much better than what Bush did this morning. Hold a big meeting to say he met with Paulson and to tell Mr. paulson he was doing a good job.
    I had Deja vu of the Brownie moment after Katrina, so Paulson better looK out for that bus.

    November 24, 2008 04:42 pm at 4:42 pm |
  7. Stop the nonsense

    "No Hillary = No Obama,"

    Are you serious or a Limbaugh follower? In case you have not noticed:

    Hillary = Obama
    (Secretary of State)

    Hillary will be part of an intelligent team, including the rest of the Cabinet. It gives many Americans great hope for our country again.

    November 24, 2008 04:44 pm at 4:44 pm |
  8. Simmy

    You're doing a GREAT job Mr. New President!

    Don't listen to the empty wagons; they're doing what they do best: making a lot of noise!

    November 24, 2008 04:54 pm at 4:54 pm |
  9. Boise, ID

    Lord, please bless the intellectually less fortunate souls that believe
    in trickle down economics. Grant them enough intelligence to see
    through the fear tactics of those that seek to use them for their own
    gain. Please allow them to see that you cannot blame Clinton for the
    eight years after his presidency (Future) while blaming the Democratic
    Congress for our current situation (Present) and Obama for the two
    months prior to his Presidency (Past). Please allow them to see that
    organized religion is evil and has no role to play in government. Allow
    them to see how many lives have been lost due to wars in the name of
    religion. Please show them that people with different colors on their
    skin are every bit as good if not better than themselves. Grant them
    the humility to realize that they have no right to project their own
    flawed morals upon others that seek to share their lives together in
    peace and tolerance. Show them that you cannot drill for more oil and
    protect our planet at the same time. Lord, please raise the price of
    gas continuously until we finally find something else. Please teach them how to spell so they don't look so dumb when they try to respond to this.

    November 24, 2008 05:00 pm at 5:00 pm |
  10. Linda L - Sedona AZ

    I am very happy with the intelligent people he has chosen. Perhaps those of you who don't see "change" (even though he hasn't taken office yet) is that he is picking people that are more than competent to do their jobs... not just cronyism. Another change is that he is asking for our ideas and visions. Just go to and become part of the solutions. It's easy to be cynical, a little harder to actually contribute.
    And to those who have (mis)understood his economic plans based soley on what Fox and McCain/Palin said about it, you will see that by actually cutting costs on unnecessary spending (unlike the last 8 years) the money will be there to pay for the programs he proposes. And if you are still determined to find fault, at least wait until he takes office. But better yet, join in the dialogue and let's work together to solve the problems that we all face.

    November 24, 2008 05:07 pm at 5:07 pm |
  11. Jon

    Obama will fail miserably. I miss Geroge Bush already.

    November 24, 2008 05:09 pm at 5:09 pm |
  12. karen-phoenix

    Thank you God for giving us Obama!!!! Intelligence will rain in Washington again!!! I soooo hope its not to late and Bush does NOT give anymore money away to his rich friends before he leaves!!!

    November 24, 2008 05:18 pm at 5:18 pm |
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