MSNBC: Geithner Favored for Treasury Pick

MSNBC reports that barring last minute changes, Timothy Geithner, a career Treasury official under three administrations, is likely going to serve as the next secretary of the Treasury Dept.

Geithner has been involved in the current Wall Street bailout under Treasury Secretary Henry Paulson Jr.

The next Treasury secretary will be left to cope with a flailing economy and failing banks. The role of the government in the economy could continue to be redefined as economic conditions worsen.

Former Treasury Sec. Larry Summers was also under consideration, but MSNBC reports that the Obama administration is looking for a change. The list of other prospects didn’t extend far beyond that. As my colleague Matt DeLong notes, who else wants this job right now?