President-elect Barack Obama said today that Timothy Geithner, a key player in the American International Group bailout arrangements, would be named as his Treasury secretary.

Mr. Obama also said he would name Lawrence Summers as his chief White House economics advisor with the title of director of the National Economic Council.

The president-elect completed his top-tier economic team by also naming Christina Romer as chairman of the Council of Economic Advisors, and Melody Barnes and Heather Higginbottom as director and deputy director of the Domestic Policy Council.

“Vice President-elect [Joe] Biden and I have assembled an economic team with the vision and expertise to stabilize our economy, create jobs, and get America back on track,” the president-elect said in unveiling key members of his economic team.

Mr. Geithner currently serves as president of the New York branch of the Federal Reserve Board, where, among other duties, he oversees the government's 79.9 percent interest in AIG, which has involved $150 billion in taxpayers' money.

Mr. Geithner played a key role in shaping the huge financial package designed to keep AIG solvent, and in reworking it two more times, as it became obvious that AIG's financial situation was dire. The original $85 billion bailout package was not sufficient, and so expensive that it exacerbated the company's financial problems.

He joined the Department of the Treasury in 1988 and has served three presidents. From 1999 to 2001, he served as Treasury under secretary for international affairs. Following that post he served as director of the Policy Development and Review Department at the International Monetary Fund until 2003.

Mr. Geithner is a graduate of Dartmouth College and the John Hopkins School of Advanced International Studies.

Mr. Summers is currently an economics professor at Harvard University. He was serving as Treasury secretary, following Robert Rubin, in 1999, when the Gramm-Leach-Bliley Act passed Congress.

That measure retained the states as chief regulators of insurance.

Mr. Summers served as president of Harvard from 2001 to 2006.

Ms. Romer is a professor of economics at the University of California, Berkeley, and before that an assistant professor of economics and public affairs at Princeton.

Ms. Barnes served as the senior domestic policy Advisor for the president-elect's presidential campaign. Among other posts, Ms. Barnes served as chief counsel to Senator Edward M. Kennedy on the Senate Judiciary Committee from December 1995 until March 2003.

Ms. Higginbottom served as policy director for the Obama presidential campaign, and from 1999 to 2007 as legislative director for Sen. John Kerry, D-Mass. She also served as the deputy national policy director for the Kerry-Edwards Presidential Campaign for the primary and general elections in 2004.

President-elect Obama also named Desiree Rogers, a current Allstate executive, as special assistant to the president and White House social secretary.

Ms. Rogers joined Allstate Financial in July as the president of social networking for Allstate Financial. Her job was to develop an internet based community among the firm's 12 million households focused on financial discussions among everyday Americans.

Ms. Rogers serves on the board of Allstate Life Insurance Company, Equity Residential and Blue Cross Blue Shield of Illinois.

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AIG Bailout Supervisor Named To Head Treasury

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