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Obama's cabinet takes shape

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Obama's cabinet takes shape

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US President-elect Barack Obama now has his economic team in place.

The two economic gurus charged with rescuing the economy and stemming the worst financial crisis in 70 years are his close campaign aide Lawrence Summers, and the President of the New York Federal Reserve, Timothy Geithner.

Geithner has worked closely with the present Treasury Secretary Henry Paulson, and Federal Reserve Chairman Bernard Bernanke to try to stem the fall-out of this financial crisis.

However the “will-she-or-won’t-she” question has not been answered all weekend. Hillary Clinton has yet to personally confirm if she will be Obama’s Secretary of State. But insiders say she is ready to take up the role.