Obama Taps New York Fed Governor To Replace Treasury Secretary Paulson

NBC News has reported that President-elect Barack Obama has made his pick for the Treasury Secretary position when the regime change occurs. Filling in for Henry Paulson - who currently holds the role - Obama plans to appoint current New York Federal Reserve Governor Timothy Geithner. Geithner has played a key role in trying to stabilize the financial sector through the worst crisis for global markets since the Great Depression and he has served at the Treasury before during various other market meltdowns. The President is expected to confirm his choice for Treasury Secretary and his economic team by Sunday.

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