Robert Rubin once again wields enormous influence in government. His followers working for Obama.

[Better Believe It]

Robert Rubin returns
By EAMON JAVERS
April 8, 2010

Former Treasury Secretary Robert Rubin — who watched his reputation as an economic titan shatter after he left the Clinton White House — is decidedly out of favor in the nation’s capital.

Except for one place — the Obama administration.

Behind the scenes, Rubin still wields enormous influence in Barack Obama’s Washington, chatting regularly with a legion of former employees who dominate the ranks of the young administration’s policy team. He speaks regularly to Treasury Secretary Timothy Geithner, who once worked for Rubin at Treasury.

And as Obama battles critics on the left who believe his financial reform push lets Wall Street off the hook, his team can’t afford to be seen taking advice from Rubin — who won a reputation among his party’s liberals as too pro-market and too anti-worker.

Still, with his legion of former employees and regular phone calls, Rubin remains influential in the capital.

The long list of Rubin acolytes working for Obama includes National Economic Council Director Larry Summers, Geithner counselor Gene Sperling, Budget Director Peter Orszag, Deputy Assistant to the President Michael Froman (who worked with Rubin at Treasury and at Citigroup), National Economic Council official Jason Furman, Deputy National Security Adviser Tom Donilon and Gary Gensler, the head of the Commodity Futures Trading Commission. Summers and many of the other officials also get regular phone calls from Rubin.

Also, many of the basic assumptions underlying Obama’s approach to the economy can be traced to Rubin’s ideas about the way capitalism should work, say former colleagues.

Rubin’s critics say they see his fingerprints on proposals in Obama’s regulatory reform agenda.

“This is the guy whose policies basically allowed Wall Street to play Russian roulette with our future, and now millions of Americans are out of work as a result,” said Daniel Pedrotty, director of the AFL-CIO’s office of investment. “He took his money and fled the scene of the crime.”


Many of the basic assumptions underlying the president's approach to the economy can be traced to the ideas of former Treasury Secretary Robert Rubin, say former colleagues.

Read the full article at:

http://www.politico.com/news/stories/0410/35515.html

[RUMMYisFROSTED]

1. What a piece of shit.

Robert Rubin returns
By EAMON JAVERS
April 8, 2010

Former Treasury Secretary Robert Rubin — who watched his reputation as an economic titan shatter after he left the Clinton White House — is decidedly out of favor in the nation’s capital.

Except for one place — the Obama administration.

Behind the scenes, Rubin still wields enormous influence in Barack Obama’s Washington, chatting regularly with a legion of former employees who dominate the ranks of the young administration’s policy team. He speaks regularly to Treasury Secretary Timothy Geithner, who once worked for Rubin at Treasury.

And as Obama battles critics on the left who believe his financial reform push lets Wall Street off the hook, his team can’t afford to be seen taking advice from Rubin — who won a reputation among his party’s liberals as too pro-market and too anti-worker.

Still, with his legion of former employees and regular phone calls, Rubin remains influential in the capital.

The long list of Rubin acolytes working for Obama includes National Economic Council Director Larry Summers, Geithner counselor Gene Sperling, Budget Director Peter Orszag, Deputy Assistant to the President Michael Froman (who worked with Rubin at Treasury and at Citigroup), National Economic Council official Jason Furman, Deputy National Security Adviser Tom Donilon and Gary Gensler, the head of the Commodity Futures Trading Commission. Summers and many of the other officials also get regular phone calls from Rubin.

Also, many of the basic assumptions underlying Obama’s approach to the economy can be traced to Rubin’s ideas about the way capitalism should work, say former colleagues.

Rubin’s critics saythey see his fingerprints on proposals in Obama’s regulatory reform agenda.

“This is the guy whose policies basically allowed Wall Street to play Russian roulette with our future, and now millions of Americans are out of work as a result,” said Daniel Pedrotty, director of the AFL-CIO’s office of investment. “He took his money and fled the scene of the crime.”




I can't find a speck of opinion.

[RandomThoughts]

2. Great pointing out of the slant in the post. And a good point n/t

[Better Believe It]

3. You're right. Rubin certainly is. In fact, that might be a compliment!

[RUMMYisFROSTED]

5. No doubt.

[Better Believe It]

4. Robert Rubin: Why Won't He Go Away?

Robert Rubin: Why Won't He Go Away?
By Dean Baker
Co-Director of the Center for Economic and Policy Research
March 8, 2010

As Treasury Secretary, Robert Rubin put in place all the pieces that set up the economy for the disaster that we are now living through. He pushed legislation that weakened regulation of the financial sector; he cheered on a stock bubble that eventually grew to $10 trillion and he established an over-valued dollar as a matter of official policy.

He then left to take a top job at Citigroup where he was able to enjoy the fruits of his labor. He earned well over $100 million in the decade after he left the Clinton administration. In the fall of 2008, when Citigroup was saved from bankruptcy with a taxpayer bailout, Rubin quietly slipped out the back door (with his money), resigning from his position at Citigroup.

It may not seem just that someone like Rubin would be allowed to live out his life in luxury after the policies that he promoted and personally profited from led to so much suffering for so many people. But that is the way things work in the United States these days. However, what is even more infuriating is that he doesn't seem to have any intention of going away. He is still pontificating on the economy and desperately trying to rewrite history to exonerate himself.

Having inflicted enormous damage on tens of millions of families who have lost their jobs, their homes and/or their life's savings, it would be nice if Rubin could have the decency to fade from the public scene.

http://www.huffingtonpost.com/dean-baker/robert-rubin-why-wont-he_b_490569.html

[Better Believe It]

6. For Sunday night DU'ers. Hope you'll had a nice weekend!