“The reality is that the economic crisis we face is no longer just an American crisis, it is a global crisis – and we will need to reach out to countries around the world to craft a global response. [Tim Geithner's] extensive international experience makes him uniquely suited for this work.  Growing up partly in Africa and having lived and worked throughout Asia; having served as Under Secretary of the Treasury for International Affairs – one of many roles in the international arena; and having studied both Chinese and Japanese, Tim understands the language of today’s international markets in more ways than one.”

–President-elect Barack Obama, in remarks Monday introducing his pick of New York Federal Reserve Bank President Timothy Geithner for Treasury Secretary.