NEW YORK, NY November 21, 2008 —US stocks rallied today on word that president-elect Barack Obama has picked Tim Geitner, president of the Federal Reserve Bank of New York, to be treasury chief.

But more ominous signs from Citigroup are keeping the financial mood sour, certainly here in New York. Greg David, editorial director of Crains New York Business, joined us to discuss the financial news of the day.