President of the New York Federal Reserve Bank Timothy Geithner, seen testifying before a Senate Banking, Housing and Urban Affairs Committee hearing on April 3, 2008, has been chosen by President-elect Barack Obama as the next Treasury Secretary in his administration on November 21, 2008. U.S. stocks spiked after the announcement, with the Dow Jones industrial average closing above 8,000. (UPI Photo/Roger L. Wollenberg)