« $4 Million Is Now Rich? |
Main
| A Google Earth Tour Of McCain's McMansions »
21 Aug 2008 01:33 pm
Obama And Rubin, Ctd.
A reader writes:
A few tidbits on Mr. Rubin:
1. Citgroup was one of the lead lobbying entities in the late-90's for the repeal of Glass-Steagel.
2. That legislation passed in Oct-1999 and reversed 60+ plus years of
U.S. policy, led to a huge roll-up in the financial services industry
where commercial banking, investment banking, brokerages and insurance
services (the Citi-Travelers merger was about the largest) were brought
under one roof (precisely what Glass-Steagel was designed to preclude)
and was and is a significant underlying factor in the mess going on
today.
3. Rubin went to work for Citigroup a short time after the repeal of
Glass-Steagel passed and was in an upper tier management role while
alot of the excesses being dealt with today were accumulated (and
Citigroup is among the most afflicted).
4. While a sharp guy, Rubin is and has always been the quintessential Limo-Liberal.
5. Wall Street and the financial services biz OWNS Congress at this
point. The last thing we need is another Rubin or Paulson running
things in the economic realm at the White House.
Share This
TrackBack URL for this entry:
http://www.typepad.com/services/trackback/6a00d83451c45669e200e55413d5dc8834
Listed below are links to weblogs that reference 'Obama And Rubin, Ctd.'
