Timothy Geithner: Obama Treasury Secretary

The new economic team begins to take shape.

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It looks like New York Federal Reserve Bank President Timothy Geithner is our next Treasury secretary. A few quick thoughts:

1) He has the edge of being from Wall Street and understanding that world without being of Wall Street and having his hands "dirty" from the subprime crisis.

2)  CNBC's Jim Cramer won't be happy, having called for a Senate investigation of Geithner because he supposedly was the prime factor behind the decision to let Lehman die. ("I think Geithner is one of the key architects of what went wrong here," Cramer said.) I am sure the Senate Republicans will be happy to make that dream come true with some very tough questioning.

3)  Assuming Geithner is confirmed, his main job would presumably credit be as Credit Crisis Czar, leaving other key aspects of economic policy up to the White House.

4) He is not an economist.

More to come ...