Saturday, November 22, 2008


by: Jackie Calmes, The New York Times

Timothy F. Geithner, president of the New York Fed, Treasury Secretary.

Following a news leak that president of the New York Federal Reserve Bank, Timothy F. Geithner, would be named Treasury Secretary, stock prices soared 300 points. (Photo: Daniel Acker / Bloomberg News)

President-elect Barack Obama will name Timothy F. Geithner to be his Treasury Secretary, according to a knowledgeable Democrat, elevating a Treasury veteran who as president of the Federal Reserve Bank of New York has all year been at the center of the worsening economic crisis. »