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THURSDAY, NOVEMBER 26, 2009
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NY Fed Prez Lands Top Job at Treasury

Speculation about Commerce gig surrounds Richardson

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(Newser) – The Obama transition team has settled on a treasury secretary nominee, NBC reports: Timothy Geithner, the president of the New York Fed. The announcement is expected to come Monday, when the president-elect will announce his entire economic team in an attempt to quell the unrest surrounding the financial markets. Geithner beat out his former boss Larry Summers, who may yet figure into the new administration's plans, perhaps as Fed chairman, Reuters reports.

Meanwhile, Bill Richardson—whose chances to serve as secretary of state evaporated when Hillary Clinton reportedly accepted that gig—is a "serious contender" to take over the Commerce Department, the Washington Post reports. Another prominent Hispanic, Arizona congressman Raul Grijalva, is in the running to be secretary of the interior, a post that usually goes to a Westerner, Politico reports.

Timothy Geithner, president of the Federal Reserve Bank of New York is seen in Montreal in this May 4, 2007 file photo.
Timothy Geithner, president of the Federal Reserve Bank of New York is seen in Montreal in this May 4, 2007 file photo.   (AP Photo/CP, Ian Barrett, File)
Federal Reserve Chairman Ben Bernanke, right, listens to Timothy Geithner, president of the New York Fed, before speaking at the Economic Club of New York Wednesday, Oct. 15, 2008.
Federal Reserve Chairman Ben Bernanke, right, listens to Timothy Geithner, president of the New York Fed, before speaking at the Economic Club of New York Wednesday, Oct. 15, 2008.   (AP Photo/Mark Lennihan)
Federal Reserve Chairman Ben Bernanke, right, and Timothy Geithner, president of the New York Fed, use napkins during lunch at the Economic Club of New York Wednesday, Oct. 15, 2008.
Federal Reserve Chairman Ben Bernanke, right, and Timothy Geithner, president of the New York Fed, use napkins during lunch at the Economic Club of New York Wednesday, Oct. 15, 2008.   (AP Photo/Mark Lennihan)
New Mexico Gov. Bill Richardson gives reporters his impression of the first presidential debate.
New Mexico Gov. Bill Richardson gives reporters his impression of the first presidential debate.   (AP Photo/Rogelio V. Solis)
New Mexico Gov. Bill Richardson speaks to Latino voters during an early-vote rally in Denver's Rude Park on Saturday, Oct. 25, 2008.
New Mexico Gov. Bill Richardson speaks to Latino voters during an early-vote rally in Denver's Rude Park on Saturday, Oct. 25, 2008.   (AP Photo/Ivan Moreno)
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Rep. Raul Grijalva talks about serving as a delegate to the 2008 Democratic National Convention. This was posted on Rum, Romanism and Rebellion (rumromanismrebellion.net).   (tedski)

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petepenguin
Nov 21, 08 2:57 PM CST
How many days until Jan. 20th? Looks like the new president will hit the ground running despite the doubts raised during the campaign. Reply
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