Rubin got to the top of Goldman Sachs--and put in 26 years total there. His 'magic' seems to have deserted him with Shittygroup (he made tons of money there as most eminent influence peddlar on the board, but had to resign). To understand Larry Summers as the bootlick following on Rubin's heels that he is, all you have to do is look at Rubin's resume'.
http://en.wikipedia.org/wiki/Robert_Rubin Criticism Rubin sparked controversy in 2001 when he contacted an acquaintance at the Treasury Department and asked if the department could convince bond-rating agencies not to downgrade the corporate debt of Enron, a debtor of Citigroup.[24] Rubin wanted Enron creditors to lend money to the troubled company for a restructuring of its debt.[citation needed] The Treasury official refused. A subsequent congressional staff investigation cleared Rubin of any wrongdoing, but he was still harshly criticized.[citation needed] Some critics claim the repeal of the Glass-Steagall Act was a key factor in the 2008 financial crisis. Enacted just after the 1930s great depression, the Glass-Steagall Act separated commercial and investment banking. That law was eventually abolished in 1999 under President Bill Clinton, whilst Rubin was financial secretary. President Obama's current banking system proposals, appear to be a return to these former principles although there is no talk of reinstating Glass-Steagall.Obama pushes new bank regulation Positions held During his time in the private sector, Rubin has served on the board of directors of the New York Stock Exchange, the Ford Motor Company, Citigroup, the Harvard Corporation, the New York Futures Exchange, the New York City Partnership and the Center for National Policy. He has also served on the board of trustees of the Carnegie Corporation of New York, Mt. Sinai Hospital and Medical School, the President's Advisory Committee for Trade Negotiations, the U.S. Securities and Exchange Commission Market Oversight and Financial Services Advisory Committee, the Mayor of New York's Council of Economic Advisors and the Governor's Council on Fiscal and Economic Priorities for the State of New York. On November 4, 2007, he became the Chairman of Citigroup and is currently co-chairman of the board of directors of the Council on Foreign Relations. On January 9, 2009, Rubin resigned from the position of Senior Counselor at Citigroup and announced he would not stand for re-election to the board. _______________________________________________ Marxism-Thaxis mailing list [email protected] To change your options or unsubscribe go to: http://lists.econ.utah.edu/mailman/listinfo/marxism-thaxis
