Robert Rubin,
Secretary of the Treasury In office: 1/11/1995 – 7/2/1999
Robert Rubin recieved over $17,000,000 in compensation from CitiGroup and a further $33,000,000 in stock options as of 2008
In 1999, affirming his career-long interest in markets, Mr. Rubin joined Citigroup. Of note, the supermerger between Travelers Group and Citicorp was facilitated by the repeal of the Glass-Steagall Act (Gramm-Leach-Bliley Act). This legislation was passed under the Clinton administration, days before Rubin's resignation. Consolidation of investment, commercial banking, and insurance services as practiced by Citigroup under the direction of Rubin has been implicated in the subprime mortage crisis. He 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. Rubin wanted Enron creditors to lend money to the troubled company for a restructuring of its debt; a collapse of the energy giant might have serious consequences for financial markets and energy distribution. The Treasury official refused. A subsequent congressional staff investigation cleared Rubin of any wrongdoing, but he was still harshly criticized by political opponents.
Secretary of the Treasury In office: 1/11/1995 – 7/2/1999
Robert Rubin recieved over $17,000,000 in compensation from CitiGroup and a further $33,000,000 in stock options as of 2008
In 1999, affirming his career-long interest in markets, Mr. Rubin joined Citigroup. Of note, the supermerger between Travelers Group and Citicorp was facilitated by the repeal of the Glass-Steagall Act (Gramm-Leach-Bliley Act). This legislation was passed under the Clinton administration, days before Rubin's resignation. Consolidation of investment, commercial banking, and insurance services as practiced by Citigroup under the direction of Rubin has been implicated in the subprime mortage crisis. He 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. Rubin wanted Enron creditors to lend money to the troubled company for a restructuring of its debt; a collapse of the energy giant might have serious consequences for financial markets and energy distribution. The Treasury official refused. A subsequent congressional staff investigation cleared Rubin of any wrongdoing, but he was still harshly criticized by political opponents.
选择“Disable on www.wenxuecity.com”
选择“don't run on pages on this domain”
