Tears of joy streamed down your cheek as you saw your eldest son off to his first day of school this morning. And ever since he left, Spider-Man backpack slung over his left shoulder and transformer in hand, you’ve been eagerly expecting his return.

You wonder: Did he behave? Was he polite? Did he manage to learn anything?

Finally, the door flies open. A shock of blond hair rushes toward you, arms extended for a bear hug.

“Mommy, mommy, I love school! The kids are so nice, the teacher is funny and we played games all day.”

“That’s wonderful. Did they teach you anything?”

“Yes! We talked about what we want to be when we grow up. Mommy, when I grow up, I want to be the Treasury Secretary of the United States.”

Wait a second.

A doctor, an astronaut, a baseball player - those make sense. But Treasury Secretary? Is this kid for real?

Turns out little Billy’s sharper than you think.

Only 2 months ago, newspapers were calling Henry Paulson, the current Treasury Secretary, the most powerful man in the world.

And for good reason.

The US economy -- the largest in the world -- is in the throws of financial calamity, and he’s the man charged with doing something about it.

After Inauguration Day on January 20th, the torch will be passed - most likely to Timothy Geithner, the head of the New York Federal Reserve Bank. His nomination by President-Elect Barack Obama was cheered by Wall Street to the tune of a 6% late-day rally.

Secretary Paulson’s notoriety is a sign of the times, but by and large Treasury Secretaries are low-profile, old white guys that really, really, like finance. If you rattled off the names Donald Reagan, Lloyd Bentsen, Paul O’Neill -- all former holders of the job -- most people would return a blank stare.

The Treasury itself describes the job of Secretary as “the principal economic advisor to the President” with a “critical role in policy-making.” In other words, he tells the Commander-in-Chief how much stuff costs.

Furthermore, the Secretary is responsible for managing the public debt. And a $10.6 trillion burden isn’t something to be taken lightly.

The incoming Timothy Geithner will assume the additional responsibility of doling out what’s left of the $700 billion bailout package.