Barack Obama's economic team received enthusiastic welcome from most observers and insiders. Below are the video announcement of the team together with a short introduction of one member of the economic team, Melody Barnes.
President-elect Obama Annouces Economic Team
And Below, A Selection Of Impressive Critics
"Mr Geithner brings two crucial qualities. First, he represents continuity...he is now a familiar face to the most senior executives on Wall Street and to central bankers and finance ministers overseas. Second, he represents competence. He has spent more time on financial crises, from Mexico and Thailand to Brazil and Argentina, than probably any other policymaker in office today."
Brad Setser, fellow, Council on Foreign Relations; former Treasury official who worked briefly for Geithner both there and at the International Monetary Fund:
"I am thrilled that Mr. Geithner looks to be Obama's choice for Treasury Secretary. I am also pleased that President Obama also found a way to pull Dr. [Lawrence] Summers...into the administration. The current, severe crisis will provide plenty of work for both....I hope that the combination of Dr. Summers' intellectual creativity and Mr. Geithner's disciplined analysis and political acumen proves fruitful."
Paul Calello, CEO, Credit Suisse Investment Bank:
"I think Tim [Geithner] is a great choice for the job. He has the intellect, the experience and the ability to work across many constituencies that you need in that job. It's also important to note that Tim has both the domestic and international experience that is going to be very important going forward."
Thomas J. Donohue, President and CEO, U.S. Chamber of Commerce:
"President-elect Obama has chosen a strong, experienced economic team. Restoring the nation's economic health must be our top priority and the Chamber stands ready to work with the new administration to spur growth and job creation. This team brings a wealth of knowledge to Washington and an understanding that any sustainable economic recovery will involve the business sector. Tim Geithner has a deep understanding of our capital markets and the experience and credibility to tackle our nation's biggest challenge -- restoring our economy and rebuilding our financial markets. He has been directly engaged in all the steps taken so far to address this unprecedented crisis and is well qualified to lead the Treasury Department. Larry Summers' knowledge of economic issues and past experience as Treasury secretary will serve President Obama well. Likewise, Christina Romer and Melody Barnes will bring an understanding that any sustainable economic recovery will involve the business sector."