Citigroup To Led By Ex-Treasury Chief
Official Treasury Photo
Like many Treasury chiefs, Rubin became Secretary of the Treasury after tenure at Goldman Sachs & Co. (26 years and co-chair).
Rubin, who the NYT says would be interim chief, knows the right people in Washington if Congressional help is needed with the subprime mortgage situation. Will this be another savings and loan fiasco?
Rubin served as Secretary under President Clinton (1995-1999), so it might be a bit harsh to characterize this as part of the Beltway revolving door, unless those insider connections are needed to salvage more than Citigroup's pride.
What do you think?
Profile of the Treasury Department from US Economy @ About.com.
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Comments
- Chuck Manson says:
The Dems are already rushing in with proposed legislation directed at mortgage brokers and bankers. Just like they did in the 80’s, they’ll make the mess worse. Legislation in committe right now would make it much harder and much more expensive for even average borrowers to get mortgages. Those dems never miss a chance to over regulate when the time is wrong.
C