Stocking a cabinet

STOCKING A CABINET…. A flurry of cabinet news late this Friday afternoon. The New York Times’ Peter Baker, for example, reports that the process has ended and Hillary Clinton has agreed to become the next Secretary of State.

Hillary Rodham Clinton has decided to give up her Senate seat and accept the position of secretary of state, making her the public face around the world for the administration of the man who beat her for the Democratic presidential nomination, two confidants said Friday.

Mrs. Clinton came to her decision after additional discussion with President-elect Barack Obama about the nature of her role and his plans for foreign policy, said one of the confidants, who insisted on anonymity to discuss the situation. […]

“She’s ready,” said the confidant. Mrs. Clinton was reassured after talking again with Mr. Obama because their first meeting in Chicago last week “was so general,” the confidant said. The purpose of the follow-up talk, he added, was not to extract particular concessions but “just getting comfortable” with the idea of working together.

A second Clinton associate confirmed that her camp believes they have a done deal.

Also, MSNBC is reporting that Tim Geithner, New York Federal Reserve Bank president, will be the next Treasury secretary.

NBC News has learned that the president-elect is preparing to roll out his economic team on Monday — and will personally announce the team and answer questions — part of an effort to reassure markets.

Barring last minute changes, the nominee for Treasury Secretary will be NY Fed President Tim Geithner — a career Treasury official under both Bob Rubin and Larry Summers — who actually had worked at the Treasury in three administrations under five Secretaries — going back to 1988.

And in still more cabinet news, the Washington Post’s Chris Cillizza reports that Bill Richardson may be headed for Commerce.

New Mexico Gov. Bill Richardson has emerged as a “serious contender” to head the Commerce Department under President-elect Barack Obama, according to a Democratic official close to the proceedings.

The Albuquerque Journal had a similar report.