MSNBC says New York Federal Reserve President Tim Geithner will be named Treasury Secretary on Monday.
Here's some background on him:
A quick rundown from the NYT.
The largest knock against Geithner is the Fed's decision to let Lehman Bros. fail, but he's among the more credible and connected candidates out there and the only one with first-hand experience in the trenches of the current credit crisis.
Markets are rallying on the news at least for today, so if nothing else Wall Street seems happy with the pick.