Friday, July 30, 2010

Robert E. Rubin



May 1 1998

Robert E. Rubin, secretary of the Treasury, recommended that Congress pass legislation to reform or repeal the Glass-Steagall Act of 1933 to modernize the country's financial system....the proposals would permit affiliations between banks and other financial services companies

, such as securities firms and insurance companies. (1)

October-November 1999

Just days after the administration (including the Treasury Department) agrees to support the repeal, Treasury Secretary Robert Rubin, the former co-chairman of a major Wall Street investment bank, Goldman Sachs, raises eyebrows by accepting a top job at Citigroup as Weill's chief lieutenant.

December 4, 2008

Ponzi Scheme at Citi Bank suit slams Rubin:

Director Rubin and ousted CEO Prince - and their lieutenants over the past five years - are named in a federal lawsuit for an alleged complex cover-up of toxic securities that spread across the globe, wiping out trillions of dollars in their destructive paths. (3)

(1) http://www.allbusiness.com/government/business-regulations/500983-1.html

(2) http://www.pbs.org/wgbh/pages/frontline/shows/wallstreet/weill/demise.html quotes appears here without permission, but in solidarity and support.
http://money.cnn.com/2008/01/31/news/economy/rubin_benner.fortune/

No comments:

Post a Comment