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Former Clinton Treasury Secretary Robert Rubin: Too Big to Jail

Published on Thursday, November 3, 2011 by TruthDig.com
Too Big to Jail
by Robert Scheer

Can we all agree that a $1 billion swindle represents a lot of money, and the fact that Citigroup agreed last week to pay a $285 million fine to settle SEC charges for “misleading investors” demonstrates a damning admission of culpability? [Former Citigroup Chief Executive Officer Charles Prince, left, and former Treasury Secretary Robert Rubin, who was a senior adviser and chairman of Citigroup during the mortgage and financial crises, testify on Capitol Hill in 2010. (AP / J. Scott Applewhite)] Former Citigroup Chief Executive Officer Charles Prince, left, and former Treasury Secretary Robert Rubin, who was a senior adviser and chairman of Citigroup during the mortgage and financial crises, testify on Capitol Hill in 2010. (AP / J. Scott Applewhite)

So why has Robert Rubin, the onetime treasury secretary who went on to become Citigroup chairman during the time of the corporation’s financial shenanigans, never been held accountable for this and other deep damage done to the U.S. economy on his watch?

Rubin’s tenure atop the world of high finance began when he was co-chairman of Goldman Sachs, before he became Bill Clinton’s treasury secretary and pushed through the reversal of the Glass-Steagall Act, an action that legalized the formation of Citigroup and other “too big to fail” banking conglomerates.

read more http://www.commondreams.org/view/2011/11/03-6



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