According to news reports, Timothy Geithner, chair of the Federal Reserve Bank in New York, will be the new Treasury Secretary--not Larry Summers. Perhaps Hillary Clinton and Summers in the top two slots was one ex-Clinton official too many: as if George W. Bush had picked Colin Powell and Nicholas Brady, rather than Powell and Paul O'Neill. (Come to think of it, that would have been an improvement.) If so, I fear Obama chose the wrong one.
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