One is reminded of Benjamin Ginsburg's thesis in Fatal Embrace. Jews worm their way into positions of power, abuse them then whine when things go wrong.
A Jew who worked for Clinton. This is not a recommendation.
Critics credit Rubin with helping create the conditions for the Financial crisis of 2007–2008, as a result of the policies he pursued as Treasury Secretary. Together with then-Federal Reserve chairman Alan Greenspan, Rubin strongly opposed the regulation of derivatives,.......... Overexposure to credit derivatives of mortgage-backed securities was a key reason for the failure of US financial institutions Bear Stearns, Lehman Brothers, Merrill Lynch, American International Group, and Washington Mutual in 2008........... According to the New York Times, "In November 1999, senior regulators—including Mr. Greenspan and Mr. Rubin—recommended that Congress permanently strip the CFTC of regulatory authority over derivatives." This advice was accepted and derivatives were kept clear of regulation by the CFTC. Other competent critics of Rubin's philosophy and policies include Kevin Phillips.[11][12]
The government’s rescue of
Citi in 2008 provided a reminder of Rubin’s attempt earlier in the
decade to prop up
Enron, then a Citi client, by asking a
Treasury official to lean on
credit rating agencies to maintain a more positive rating than Enron
deserved.
UNQUOTE
It sounds
about right to me.
Errors & omissions, broken links, cock ups, over-emphasis, malice [ real or imaginary ] or whatever; if you find any I am open to comment.
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Updated on 04/05/2010 22:18