Barack Obama to name Geithner, Summers to economic posts

The first rule of Barack Club is – you do not talk about Barack Club. The second rule of Barack Club is – you DO NOT talk about Barack Club.

President-elect Barack Obama will announce the leaders of his economic team Monday, naming Timothy Geithner as treasury secretary and Lawrence Summers to direct the National Economic Council, transition officials said. If confirmed by the Senate, Geithner, 47, president of the New York Federal Reserve, would be the top Cabinet official in charge of leading the administration’s response to the global economic crisis. Word of his likely selection Friday helped send the Dow Jones Industrials soaring 500 points after several days of steep losses. – from Yahoo