President-elect Barack Obama came out and held a press conference today to introduce his economic team. At the press conference Obama formally named New York Federal Reserve president Timothy Geithner as the next Treasury secretary to replace current holder Henry Paulson, and tapped former Treasury chief Larry Summers as his chief White House economic advisor.
During the news conference Obama said, 'We can't allow the auto industry to vanish,' Obama says, but urges no 'blank check'
Here is video of today's press conference:
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