Geithner is currently president of the New York Federal Reserve and has been deeply involved in trying to stop the Wall Street meltdown. He was reportedly against the decision to let Lehman fail, suggesting that he might do a better job of managing the crisis than Paulson. "I had heard from sources that he has been a great source of reason in all that's been going on," says Bernstein. "He's been working closely with Paulson, so he knows all the working parts."
And Geithner, a Democrat, has experience at the Treasury. He served as an Under Secretary at the Treasury under Larry Summers and Robert Rubin during the Clinton administration. Geithner's biggest negative in any bid to be Treasury Secretary may be his current importance. In any financial crisis, the head of the Federal Reserve Bank of New York has a large role to play. Obama might prefer to keep him in his position and bring another voice into the mix.