The news has already begun on who’s going to be who in the Barack Obama Oval Office. First up: Rahm Emanuel as chief of staff.

The Chicago-area U.S. representative caught Obama’s eye, according to ABC’s George Stephanopoulos on “Good Morning America” today, because he “knows policy, knows politics, knows Capitol Hill,” and Obama has told associates that Emanuel would “have his back.”

Bloomberg reports that Obama’s also looking at returning Lawrence Summers to his old Clinton-era post as head of the Treasury Department — a job pretty much no one wants to do these days.

Summers, 53, is favored to return to the Treasury post that he held under President Bill Clinton because Obama values his experience and familiarity with markets and global leaders, a crucial asset during the markets crisis.

Still, people close to the president-elect stress no final decision has been reached and that Timothy Geithner, president of the New York Federal Reserve, is also a strong contender. Geithner would also be welcome by many in the financial community; at age 47, he would be a fresh face in an administration that ran on a mantra of change.

As for Emanuel, let it be remembered that he was one of the national-stature Dems who pooh-poohed Howard Dean’s 50-state strategy that seems to have worked remarkably well for Obama. In terms of getting a quality team together, it seems that letting bygones be bygones could be yet another A+ strategy for Obama.