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Tag: Robert Rubin


White House/Pete Souza

Geithner Tacitly Acknowledges Special Relationship With Citigroup

In his new book, former New York Fed chair and Treasury Secretary Timothy Geithner suggests that his relationship with Citigroup executive Robert Rubin did affect his supervision of the bank, which taxpayers ultimately bailed out with $45 billion.

Posted on May 14, 2014 READ MORE



Clinton’s Advisory Team Pressed for Wall Street Deregulation, Documents Show

New documents reveal the back story of how Wall Street deregulation was pushed by the advisers of President Clinton.

Posted on Apr 21, 2014 READ MORE



White House/Pete Souza

The Inconvenient Truth About Jack Lew

I suppose that he can’t be much worse than Timothy Geithner, but that should be scant cause for cheer over the news that the president has nominated Jack Lew as Treasury secretary.

Posted on Jan 11, 2013 READ MORE



AP/Mark Lennihan

A Sign That Obama Will Repeat Economic Mistakes

Reports in the business press tout a prime participant in the great banking hustle as a possible candidate to be the next Treasury secretary.

Posted on Dec 7, 2012 READ MORE



Having ‘Skin in the Game’

Nassim Nicholas Taleb’s new tour de force book “Antifragile: Things That Gain From Disorder” is a frame-of-reference altering work that a Wall Street Journal reviewer confessed he would have to read “again and again”

Posted on Dec 6, 2012 READ MORE



White House / Pete Souza

Will Timothy Geithner Lead Us Over or Around the Fiscal Cliff?

If “pragmatic deal maker,” as The Wall Street Journal describes Geithner, means someone who believes any deal with Republicans is better than no deal, and deficit reduction is more important than job creation, we could be in for a difficult December.

Posted on Nov 27, 2012 READ MORE



AP/Dima Gavrysh

For He’s a Jolly Good Scoundrel

The men most responsible for the collapse of the American dream are heaped with honors at the highest levels of society.

Posted on Apr 18, 2012 READ MORE


Season’s Greetings From Occupy Harvard

Harvard’s “Occu-Elves” deliver lumps of coal to “naughty boys,” including the school’s former president, Lawrence Summers, and Robert Rubin, two men who helped engineer the economic meltdown.

Posted on Dec 19, 2011 READ MORE



Composite image: Handout / Mary Altaffer, AP

Truthdigger of the Week: Judge Jed Rakoff

There are those occasions when the choice for Truthdigger of the Week is so clear that our tribute practically writes itself. This is one of those times.

Posted on Dec 2, 2011 READ MORE



AP / Damian Dovarganes

California Refuses to Accept Obama’s Banking Sellout

There is no three-strikes law for crooked bankers, who usually get off with a fine and a promise not to do it again, and again and again.

Posted on Nov 10, 2011 READ MORE



AP / J. Scott Applewhite

Too Big to Jail

Can we all agree that a $1 billion swindle represents a lot of money? So why isn’t former Citigroup Chairman Robert Rubin breaking a sweat?

Posted on Nov 2, 2011 READ MORE



AP / J. Scott Applewhite

The Men We Trusted to Lead Us

Why are Ben Bernanke and Barack Obama just now discovering that there is a jobs crisis in this country?

Posted on Sep 28, 2011 READ MORE



AP / Carolyn Kaster

If McCain Had Won

Nothing reveals the true state of American politics today more than the fact that Democratic President Barack Obama has left the Democratic Party far weaker than it would have been had McCain been elected.

Posted on Jul 15, 2011 READ MORE



AP / Jacquelyn Martin

Bill Clinton’s Legacy of Denial

Endorsing the Republican agenda of financial industry deregulation, reversing New Deal safeguards, President Clinton pursued policies that in the long run created more damage to the American economy than any other president since Herbert Hoover.

Posted on Jun 21, 2011 READ MORE



AP / Pablo Martinez Monsivais

In Money-Changers We Trust

Two years into the Obama presidency and the economic data is still looking grim. Don’t be fooled by the gyrations of the stock market, where optimism is mostly a reflection of the ability of financial corporations—thanks to massive government largesse—to survive the mess they created.

Posted on Dec 29, 2010 READ MORE



AP / Louis Lanzano

The Man Who Shattered Our Economy

Rejoice, the housing market is back. Sandy Weill just picked up a humdinger of a wine vineyard estate in Sonoma, Calif., for a record $31 million, so the foreclosure crisis must be over.

Posted on Nov 17, 2010 READ MORE



AP / Cliff Owen

The Big Guy’s on Our Side

Paul Volcker, or the “big guy,” as President Barack Obama refers to the former Federal Reserve chair who heads his Economic Recovery Advisory Board, nailed it in a series of blistering remarks on the sorry state of our economy.

Posted on Sep 28, 2010 READ MORE



democracynow.org

Amy Goodman Interviews Robert Scheer About ‘The Great American Stickup’

We’ve heard about the robber barons on Wall Street who brought on our current economic crisis, but they couldn’t have done it without the help of key political players like Bill Clinton, for one, as Robert Scheer tells Amy Goodman in this “Democracy Now!” interview about his new book.

Posted on Sep 7, 2010 READ MORE


Rubin
AP / J. Scott Applewhite

The Rubin Con Goes On

The corruptions of journalism were on full display when CNN’s Fareed Zakaria turned to Robert Rubin this past Sunday for advice on how to fix the financial crisis that he, as much as anyone, caused.

Did you miss the live Q & A session? Listen to the podcast here.

Posted on Aug 10, 2010 READ MORE


Blankfein
AP / Charles Dharapak

‘God, What a Piece of Crap’

It was the Perry Mason moment in the unraveling of what was left of Goldman Sachs’ reputation. Only in this case, it involved a grizzled former prosecutor, Sen. Carl Levin, rather than a genial defense attorney.

Posted on Apr 27, 2010 READ MORE


Goldman Sachs
AP / Mark Lennihan

Goldman Plays, We Pay

The story of the financial debacle will end the way it began, with the super-hustlers from Goldman Sachs at the center of the action and profiting wildly. Never in U.S. history has one company wielded such destructive power over our political economy, irrespective of whether a Republican or a Democrat happened to be president.

Posted on Apr 20, 2010 READ MORE



Robert Reich Edition

What Noam Chomsky has to say about globalization, why older is wiser, and proof that at least two of the three bozos who most wrecked the economy still don’t get it.

Posted on Apr 6, 2010 READ MORE


Treasury Department
AP / Evan Vucci

No Banker Left Behind

They do have a license to steal. There is no other way to read Tuesday’s report from the New York state comptroller that bonuses for Wall Street financiers rose 17 percent to $20.3 billion in 2009. Of course that is less than the $32.9 billion for bonus rewards back in 2007, when those hotshots could still pretend that they were running sound businesses. 

Posted on Feb 23, 2010 READ MORE


Volcker
AP / Gerald Herbert

Volcker Rules

Finally President Barack Obama has come to his senses on financial regulation. His endorsement of what he calls the “Volcker Rule” for once puts him squarely on the side of ordinary Americans as opposed to the banking bandits who have so thoroughly fleeced the public.

Posted on Feb 2, 2010 READ MORE


Wall Street CEOs
AP / J. Scott Applewhite

Wall Street’s Fat Cats Are Still in Charge

Most Americans now know that Wall Street bankers are so greedy as to never be trusted, and I suppose it is a sign of progress that our president finally seems to grasp the obvious.

Posted on Dec 15, 2009 READ MORE


Matt Taibbi

Matt Taibbi: Obama’s Wall Street 180 Started on Election Day

Rolling Stone’s Matt Taibbi walks through Barack Obama’s banking sellout, beginning with the president’s transition team. According to Taibbi, Obama’s transformation from populist to Wall Street’s best friend started on day one.

Posted on Dec 9, 2009 READ MORE



AP / Alex Brandon

Who Are You and What Have You Done With the Community Organizer We Elected President?

What’s up with Barack Obama? Finally someone has a good idea about how to deal with Wall Street and the White House condemns it. 

Posted on Nov 18, 2009 READ MORE


Geithner
AP / Gerald Herbert

Zooming In on the Year’s Biggest Hoax

Who are these people? I am not referring to the pathetic parents of “Balloon Boy,” whose fake drama I have been unable to escape while on the treadmill this week, thanks to my gym’s insistence on tuning its flat-screen TVs to Wolf Blitzer’s nonstop self-parody.

Posted on Oct 21, 2009 READ MORE


Blankfein
AP / Mark Lennihan

‘Government Sachs’ Strikes Gold ... Again

Connect the dots: Goldman Sachs made $3.44 billion in profit this past quarter, while the U.S deficit topped $1 trillion for the first time in the nation’s history and appeared to be headed toward doubling that figure before the budget year is out. Since most of the increase in the federal deficit is due to bailing out the banks and salvaging the greater economy they helped destroy, why is the top investment bank doing so well?

Posted on Jul 14, 2009 READ MORE


Obama and Geithner
AP photo / Ron Edmonds

Cashing In on ‘Government Sachs’

We are so inured to tales of business corruption that even a devastating exposé in The Wall Street Journal no longer shocks us. The fact that the chairman of the New York Federal Reserve Bank made millions off his secret purchase of Goldman Sachs stock has barely registered a blip of outrage. 

Posted on May 5, 2009 READ MORE


Obama, Gensler and Tarullo
AP photo / Gerald Herbert

Obama’s Toxic Advisers

Bernie Sanders, the senator from Vermont who is independent in spirit as well as party label, has placed a hold on President Obama’s nomination of Gary Gensler to head the Commodity Futures Trading Commission. Sounds like a minor issue to get worked up about, but I see this appointment as further evidence that the president has entrusted his economic policy to the wrong people.

Posted on Mar 24, 2009 READ MORE


geithner
AP photo / Pablo Martinez Monsivais

Runaway Wall Street

It is instructional that only one of the three tax-challenged Obama appointees has survived public scorn to claim a high position in the new administration. Oddly enough, it is Treasury Secretary Timothy Geithner, the man who will collect our taxes, whose career has not been stunted by his failure to pay them.

Posted on Feb 4, 2009 READ MORE


Geithner and Summers
AP photo / Lawrence Jackson

Wall Street Robber Barons Ride Again

Why rush to throw another $350 billion of taxpayer money at the Wall Street bandits and their political cronies who created the biggest financial mess since the Great Depression? And why should we taxpayers be expected to double our debt exposure when the 10 still-secret bailout contracts made in the first round are being kept from the public?

Posted on Jan 13, 2009 READ MORE


Rubin
treas.gov

Rubin Bows Out of Citigroup

Almost a year ago, Citigroup’s then-director Robert Rubin downplayed the enormity of the economic catastrophe headed our way and made a pre-emptive move to shift any potential blame to politicians instead of financial experts such as himself. Fast-forward to the present and the picture changes considerably.

Posted on Jan 9, 2009 READ MORE


Bush and Paulson
AP photo / Charles Dharapak

Republicans Bring Socialism to America

Let the record show that it was George W. Bush, the rich Texas Republican, who brought socialism to America, so don’t blame it on that African-American Chicago Democrat community organizer who made it into the White House.

Posted on Dec 9, 2008 READ MORE


Summers and Obama
AP photo / Charles Dharapak

Obama Chooses Wall Street Over Main Street

Maybe Ralph Nader was right in predicting that the same Wall Street hustlers would have a lock on our government no matter which major party won the election. I hate to admit it, since it wasn’t that long ago that I heatedly challenged Nader in a debate on this very point.

Posted on Nov 25, 2008 READ MORE


Obama and Rubin
AP photo / Chris Carlson

Obamanomics = Rubinomics?

Judging by the new additions to Barack Obama’s economic squad, the president-elect appears to be borrowing heavily from Robert Rubin’s ranks, but here’s an argument as to why Obama’s approach will differ from Rubin’s (but consider the source here).

Posted on Nov 24, 2008 READ MORE


Obama and the economists
AP photo / Chris Carlson

The Battle for Obama’s Economic Soul

Instead of running with the “European socialist” crowd, as John McCain has claimed, Barack Obama has turned to the same American “free market” elite that views government as merely a corporate subsidiary. Even within that group, however, there are serious splits, and the more enlightened side seems to be winning.

Posted on Oct 21, 2008 READ MORE


NYSE
AP photo / Henny Ray Abrams

Boston Tea Party, 2008

How dare you throw that tea into Boston Harbor! Such is the anti-democratic arrogance of the fear-mongering pundits and politicians who tell us if we taxpayers don’t instantly give the Wall Street banking bandits a $700-billion bailout, we are destroying America.

Posted on Sep 30, 2008 READ MORE


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