News Release

For Release

November 24, 2008

RAND President and CEO James A. Thomson today said the following regarding President-elect Barack Obama's nomination of Timothy F. Geithner, a member of RAND's Board of Trustees, as the next Secretary of the Treasury of the United States:

"President-elect Obama has made an outstanding choice in Tim Geithner. Tim blends a capacity for insightful analysis with a proven ability to act in times of crisis. He has been a valuable member of the Board of Trustees at RAND, which seeks to provide objective analysis and effective solutions to address challenges facing the public and private sectors around the world. With Tim, the American people will gain a talented and dedicated public servant."

Geithner, currently president of the Federal Reserve Bank of New York, previously served with the U.S. Department of Treasury for three administrations, holding the post of under secretary for international affairs from 1999 to 2001. He then joined the International Monetary Fund as director of the policy development and review department before assuming the New York Fed presidency in 2003.

Geithner was named to RAND's Board of Trustees in March 2006.

About RAND

RAND is a research organization that develops solutions to public policy challenges to help make communities throughout the world safer and more secure, healthier and more prosperous.