With half the money already spent, and thousands of banks -- some struggling mightily to survive -- squabbling over their share, his role in shaping the future of America’s economic landscape will be especially critical.

So, who is this Geithner fellow anyway?

Very possibly, the kid who ran home from school and told his mother he wanted to control America's purse strings. His credentials are, indeed, impeccable.

Born in Brooklyn, Geithner received a first-rate education. After attending the International School in Bangkok for post-secondary studies, he graduated from Dartmouth with a Bachelor of Arts in government (foreshadowing!) and Asian studies. Next came a Masters degree in international economics from Johns Hopkins. Dumb guy.

Out of graduate school, Geithner worked for 3 years with Kissinger Associates in Washington before joining the Treasury in 1988. No stranger to international relations, he’s lived in East Africa, India, Thailand, China and Japan - and for a time was the assistant attaché at the American Embassy in Tokyo.

Prior to being appointed director of the Policy Development and Review Department of the International Monetary Fund, Geithner served as Under Secretary of the Treasury for International Affairs from 1998 to 2001.

He was named President and Chief Executive Officer of the New York Fed in 2003.

Throughout the last 12 months, Geithner has been repeatedly shoved into the national spotlight, as financial institutions in his native New York have sputtered.

Earlier this year, he kept watch as Ambac (ABK) and MBIA (MBI), the country’s biggest bond insurers, nearly collapsed. He played an integral role in the sale of Bear Stearns to JPMorgan (JPM) and got his hands dirty in the bailout of AIG (AIG). Some even point to him as an advocate for letting Lehman Brothers fail.

When he takes the reins from Secretary Paulson in January, he’ll be charged with preventing what many believe could become this generation’s Great Depression. The next economic stimulus package and any rescue of beleaguered automakers General Motors (GM), Ford (F) and Chrysler will bear Geithner’s mark. Additionally, the entire regulatory framework of the US financial system is expected to be overhauled in the not-too-distant future. The secretary is likely to preside over that initiative.

Geithner has his work cut out for him, but it wouldn’t be too much of a leap to say he’s been preparing to do this job his whole life - maybe even since his first day of school.