Bob Rubin Conspires To Help Enron Defraud American Taxpayers, Then Sheepishly Backs Off

CBS MarketWatch ^ | 01/11/2002 | Rachel Koning

[spoosman]

Former Clinton Treasury Secretary and current Citigroup executive Robert Rubin telephoned Treasury Undersecretary Peter Fisher regarding Enron and its creditors on Nov. 8, Treasury spokeswoman Michele Davis said Friday. Rubin "asked Fisher what he thought of the idea of Fisher placing a call to rating agencies to work with Enron's bankers to see if there is an alternative to an immediate downgrade," Davis said. "Fisher responded he didn't think it advisable to make such a call. Rubin said he thought that was a reasonable position. Fisher made no call." The eventual credit downgrades were a final action that pushed the troubled Enron almost immediately into the largest U.S. bankruptcy ever.

[spoosman]

This Rubin guy is a real piece of work. He is one of the key point men for the cartel. He is the master manipulator, and should always be remembered as the primary individual responsible for the unsustainable, artificial market inflation from 1995 - 2000, as well as the current appurtenant market deflation of 2000 to at least through the end of 2002, depending upon where the prices fall to. I suppose if it hadn't been Rubin leading the manipulation team, rigging the market with U.S. Treasury money, it would have been somebody else. Nonetheless, he is the master manipulator, and by far one of the most corrupt individuals who have ever soiled the corridors of power in the United States. He was a perfectly matched sidekick for the Clintonistas.

[vrwconspiracist]

Sounds like the Republicans have a hole card...

[StanFran]

Citigroup, Rubin's employer, just happens to be Enron's biggest creditor. And it just happens, as reported on another thread, that Citigroup is Holy Joe Lieberman's biggest contributor.

[connectthedots]

Sounds like the Republicans have a hole card...

The Republicans are going to hammer the Democrats in November if they use the Enron issue.

[eureka!]

Funny how this little tidbit is buried on a friday evening biz piece./sarcasm.

Memo to Sunday pundits for the right:"The call was made by CLINTON'S TREASURY SECRETARY AND HIS UNETHICAL REQUEST WAS DENIED!!!"

[seamus]

Thanks for the bookmark special! That jerk Daniel Calloway -- who spouted so much garbage about how the Enron "scandal" was going to go "straight to the heart of exposing what is wrong with the way the Bush administration is conducting itself these days" -- could not have realized how soon he'd be proven right!

A reporter for the very same news service that employs Calloway has "exposed" for all to see that Bush's White House does not operate like the Clinton White House -- using its power to rig the rules for buddies and campaign contributors.

When asked to pull a favor, the Bushies at Treasury said "It wouldn't be right." What a refreshing response.

[rollin]

Tell me it isn't so!

You don't think Loserman would take funds from an Enron creditor?

Oh my gosh . . . what is the world of politics coming to?

[NativeNewYorker]

asked Fisher what he thought of the idea of Fisher placing a call to rating agencies

This suggestion would have utterly gutted the already heavily compromised rating agencies.

Fisher's refusal may have cost him future employment at Citi, but his reputation for honesty has risen a notch.

[rwfromkansas]

bump

[jwalsh07]

Rubin's a smart guy but he stepped on it here. IMHO, Rubin and his pals at Goldman/Sux created the dot.com bubble that lasted just long enough to keep dot.clinton out of the joint.

[deport]

CBS Market Watch..... this is going, going, well who knows where, but maybe to places the democrats may not want it to.

[Brett66]

That's the problem with this Enron thing, when the sh*t hits the fan, everyone gets splattered.

[an amused spectator]

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[Howlin]

More:

And, emphasizing that it wasn't only Bush administration officials who were close to Enron, the Treasury Department disclosed Friday evening that former Treasury Secretary Robert Rubin, a Democrat, had also sought Fisher's intervention on behalf of Enron.

Rubin, now chairman of the executive committee of financial giant Citigroup, called Fisher on Nov. 8, at a time that rating agencies were poised to downgrade their opinions on the financial status of Enron.

``Rubin asked Fisher what he thought of the idea of Fisher placing a call to rating agencies to encourage them to work with Enron's bankers to see if there was an alternative to an immediate downgrade,'' said Davis.

``Fisher responded that he didn't think it advisable to make such a call,'' said the Treasury spokeswoman. Rubin said he thought that was a reasonable position. Fisher made no such call.''

A Rubin spokesman, Michael Schlein, confirmed Treasury's characterization of the conversation with Fisher as ``largely accurate.'' Schlein added that Rubin ``had prefaced the call by saying, `This may not be the best idea,' and in the end agreed with Fisher that it wasn't a good idea.''

Citigroup Inc., the nation's largest bank, is among a group of banks that lent hundreds of millions of dollars to Enron, hoping to keep it going so earlier loans would be repaid. Citigroup was said to be owed about $800 million.

And everybody, please start watching AMERICA NOW on CNBC at 8 PM EST every night.......it's great!!!!

[PhiKapMom]

Don't think the RATS are going to like what they have wished for with an investigation -- looks like it is headed right at them! Gotta love it! The members of the press corps led by the Clinton News Network are going to look like the absolutely liberal biased folks they are! They should have checked the facts before aiming all their snide remarks and outright lies at the Bush Administration!

[aristeides]

FYI.

[aristeides]

Joseph W. Sutton, president of Enron, was scheduled to go on Ron Brown's fatal flight in 1996, but for some reason he was one of the scheduled passengers who managed to miss the flight.