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November 24, 2008

Obama to Name Geithner, Summers to Top Economic Posts
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At a press conference today, Obama is expected to introduce Timothy
Geithner as his nominee to be Treasury Secretary. Geithner is currently
the president of the New York Federal Reserve Bank. Geithner played a
key role in the government bailouts of Bear Stearns Cos. and American
International Group. He is seen by many as a protege of former Clinton
administration Treasury chief Robert Rubin. During the late 1980s,
Geithner worked at Henry Kissinger’s firm, Kissinger Associates.
President-elect Obama is also expected to name Lawrence Summers to be
the director of the National Economic Council in the White House.
Summers served as Treasury Secretary under President Clinton and is
former president of Harvard University.