Friday, November 21, 2008

Friday Afternoon Rally On Obama's Tresury Pick

The Dow Jones Industrial Average put on a pretty decent 500 point rally that started with President-Elect Obama's choice for Tresury Chief, Tim Geithner. Geithner currently serves as NY Fed Chief and has been involved with most of the bailout deals with the current Treasury Sec'y Hank Paulson. The choice removes one key uncertainty that has been a stumbling block to the financial markets. It also adds some continuity to the transition and also allows for the potential of more TARP funds to be deployed before Obama takes office in January.
Geithner Likely To Be Treasury (MSNBC)

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