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President Obama

A New Job Description for Treasury Secretary

"When President-elect Barack Obama selected Timothy Geithner to be his Treasury secretary in November 2008, the financial system was in full-blown crisis and the economy was in free fall. Given the urgency of the situation and his own inexperience in economic matters, Mr. Obama badly needed seasoned help, most prominently at the Treasury Department. In choosing Mr. Geithner, then the head of the Federal Reserve Bank of New York and a prominent player in the bailouts that year, Mr.