Obama reveals rescue team

[depakid]

Barack Obama's team ... Inset, from top, Timothy Geithner, Melody Barnes, Christina Romer and Larry Summers.
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US President-elect Barack Obama unveiled an economic team steeped in fighting crises and likely to push for an unprecedented government role in reviving growth and stabilizing the financial system.

New York Federal Reserve Bank President Timothy Geithner was picked for Treasury secretary, former Treasury chief Lawrence Summers will be White House economic director and Peter Orszag, head of the Congressional Budget Office, will be in charge of assembling President-elect Obama's budget.

They're going to need all their skills, and coordination, to get ahead of a financial market meltdown that has confounded outgoing President George W. Bush's policy makers. First up: putting together and passing a stimulus package that may run to $US700 billion ($1 trillion) or more, in an attempt to head off millions of job losses as the credit crunch freezes the economy.

''If we do not act swiftly and act boldly, most experts now believe we could lose millions of jobs next year,'' Obama said at a press conference Monday in Chicago to announce his team. ''We do not have a minute to waste.''

''We have to make sure that the stimulus is significant enough that it really gives a jolt to the economy.''

Christina Romer, a University of California, Berkeley, professor, will head the Council of Economic Advisers, and adviser Melody Barnes will be domestic-policy council director, Obama said.

More: http://business.smh.com.au/business/world-business/obama-reveals-rescue-team-20081125-6g9t.html

[lamp_shade]

1. A "Winning Team" if I ever saw one. n/t

[lonestarnot]

2. I wish them all the best and know they will do the best they possibly can!

:applause: