Who Will Be Time Magazine's Person of the Year?

Time magazine founder Henry Luce started the now famous contest of "Person of the Year" back in 1927--Charles Lindbergh nabbed the honor though he did not appear on the issue's cover. Throughout the years everyone from President John F. Kennedy to the American Soldier have earned the coveted spot. Last year's honoree was then-President-elect Barack Obama.

Yesterday Time magazine managing editor Richard Stengel hosted and moderated a panel of famous guests at New York's Time & Life Building to discuss who should be the 2009 Person of the Year.

Among the panelists were Barbara Walters, Tom Colicchio, Rudy Giuliani, Gayle King and Dr. Mehmet Oz. Among the nominees: Twitter, Iranian protestors, Bernie Madoff, Steve Jobs, Derek Jeter and many others.

By the end of the discussion, there was no clear front-runner. Who would you pick for Time's Person of the Year?

Richard Stengel will announce this year's pick on Dec. 16  on NBC's Today Show.The person (or persons) will appear on the Dec. 28 issue of Time magazine.