President-elect Barack Obama has officially announced his team which will help him tackle the economic crisis. He named Timothy Geithner as Treasury Secretary and Lawrence Summers as his top economic advisor. Summers was a Treasury Secretary himself under the Clinton administration and should provide valuable input. In addition Obama said Christina Romer would join as his key economic adviser. Melody Barnes will also join Obama’s transition team in the role of Head Domestic Policy Council.
Despite gathering together what he call a strong team, Obama said that “we can’t expect full recovery to come immediately”. Asked about his plans for America’s ailing car industry, Obama said he wanted to “see a plan that made sense” band acknowledged that the public did not want to see money wasted. He also sent a message to the auto industry saying that they must realize there was an ecological shift taking place and that they should adapt [CNN].
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