Posted on 04/13/2010 6:15:45 PM PDT by DOGHEAD
Robert Rubin was a top executive at Citigroup when the mortgage-securities disaster struck. He went before the Financial Crisis Inquiry Commission recently and expressed regret for the crisis that helped create a tidal wave of foreclosures in the U.S.
(Excerpt) Read more at kcbs.com ...
Obviously I meant $126 Million while the economy crumbled.
Why isn’t Bawney Fwank and Chris Dodd not in jail either? They’re the ones who used Fannie and Freddie as personal political piggie banks.
He should have gone to jail when he asked Bush’s Treas Sec to withhold his ruling on Enron so he could get his customers out of the stock. I believe it was O’Neil who reported what Rubin had done.
Further, when O’Neill left the msm was touting Rubin for his replacement.
Because he’s a Democrat.
Because to be convicted of a crime, the facts have to be proven beyond a reasonable doubt.
Rubin claims that he did not know what was going on. Can anyone prove that he did? SOX applies to the CEO, but not to the BofD.
Well, If he was that un informed to not know that the company that he was heading was allowing put backs on the products that they were selling to the tune of $45 billion
then he has to be the most inept and incompetent head of a company since the beginning of time. And if that is true then why are all of his cronies still running the economy?
Exactly. Hey, wasn’t there a post over the weekend that Barney baby wasn’t going to run for re-election?? Haven’t heard anything since...Anyone know about it?
Rubin is part of the World Elite. He will never see jail.
wait wait wait!! I know this one!
Because he’s a Democrat?
He was not the ‘head’ - that honor belonged to Charles Prince. He was a member of the Board of Directors, which many investors regard as little more than a rubber stamp for management.
Prince didn’t know anything either.
Not me. I hope for the good of the nation he stays home.
Exactly. The same question was asked about a certain senator from Mass for the last 40 years too.
The testimony said that he received a memo from staffers warning about the CDO’s which he ignored. Both should be in jail. I personally believe that Rubin (and others) were the architects of this at Citi, or at least had knowledge of what was going on. Can anyone prove it? Probably not but we don’t seem to have anyone pressing it either.
Taxpayers will get to pay for the bailout.. Well, I know they paid back $20 Billion so they still owe. This is a SOB that owes the taxpayers $25 billion yet he is allowed to run around lecturing with a $126 million payout. His buddies are all on Obama’s economic team at the White House.
Me too. He’s a big reason the nation is in the mess it’s in....
Remember the media and Congressional lynch mob out for Ken Lay and the rest of the Enron executives. Enron was a minor blip compared to the damage done by Rubin and other Wall Street investment bank speculators.
Lay had the misfortune of being from Texas and supporting Republican candidates. Rubin and other perpetrators of the current crisis had the fortune to be members of the Eastern liberal elite.
Two sets of standards in this country. Like it, change it, or leave.
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