Robert Rubin

Gramm-Leach-Bliley Act Repeals Glass-Steagall, Enables 2008 Crisis

1999-11-12 00:00:00 +0000 UTC | Importance: 10/10

President Bill Clinton signs the Gramm-Leach-Bliley Act (Financial Services Modernization Act) into law on November 12, 1999, repealing key provisions of the Glass-Steagall Act of 1933 that separated commercial banking from investment banking and insurance. The Senate passes the final bill 90-8 on …

Phil Gramm Jim Leach Thomas J. Bliley Jr. Bill Clinton Robert Rubin +4 more deregulation regulatory-capture neoliberalism banking-deregulation financial-crisis-precursor +3 more

President's Working Group Recommends Exempting $80 Trillion Derivatives Market from Regulation

1999-11-05 00:00:00 +0000 UTC | Importance: 9/10

The President’s Working Group on Financial Markets issues a unanimous report recommending that over-the-counter derivatives be explicitly exempted from federal regulation, directly repudiating CFTC Chair Brooksley Born’s 1998 warnings about systemic risk. The report is signed by Treasury …

Lawrence Summers Robert Rubin Alan Greenspan Arthur Levitt Bill Rainer +1 more derivatives deregulation cfma financial-crisis regulatory-capture +2 more

Robert Rubin Joins Citigroup for $126 Million After Engineering Glass-Steagall Repeal

1999-10-26 00:00:00 +0000 UTC | Importance: 9/10

Robert Rubin joins Citigroup just four months after leaving his position as Treasury Secretary, shortly after the November 1999 passage of the Gramm-Leach-Bliley Act that repealed Glass-Steagall. Rubin’s move to Citigroup - the principal beneficiary of Glass-Steagall repeal - represents one of …

Robert Rubin Citigroup Sandy Weill Goldman Sachs Treasury Department revolving-door citigroup glass-steagall corruption regulatory-capture +2 more

Lawrence Summers Becomes Treasury Secretary, Accelerates Derivatives Deregulation Campaign

1999-07-02 00:00:00 +0000 UTC | Importance: 8/10

The U.S. Senate confirms Lawrence Summers as the 71st Secretary of the Treasury, replacing Robert Rubin and continuing the aggressive deregulation agenda. Summers had spent the previous year as Deputy Secretary orchestrating opposition to derivatives regulation, including making an “irate …

Lawrence Summers Bill Clinton Robert Rubin U.S. Senate Wall Street derivatives dealers treasury derivatives deregulation revolving-door financial-crisis +2 more

Time Magazine Celebrates "Committee to Save the World" While They Block Derivatives Regulation

1999-02-15 00:00:00 +0000 UTC | Importance: 8/10

Time Magazine publishes its February 15, 1999 edition featuring Treasury Secretary Robert Rubin, Deputy Secretary Lawrence Summers, and Federal Reserve Chairman Alan Greenspan on the cover as “The Committee to Save the World,” celebrating their management of the 1997-1998 Asian and …

Robert Rubin Lawrence Summers Alan Greenspan Time Magazine Brooksley Born derivatives deregulation financial-crisis media-propaganda regulatory-capture +2 more

Federal Reserve Grants Citigroup Temporary Waiver for Glass-Steagall Violation

1998-09-01 00:00:00 +0000 UTC | Importance: 8/10

In September 1998, the Federal Reserve Board granted Citicorp a temporary waiver allowing its merger with Travelers Group, effectively circumventing the Glass-Steagall Act and Bank Holding Company Act. This strategic regulatory maneuver created Citigroup, the first ‘universal bank’ since …

Federal Reserve Alan Greenspan Citicorp Travelers Group Sandy Weill +4 more federal-reserve citigroup glass-steagall-violation regulatory-waiver systemic-corruption +3 more

Brooksley Born's Derivatives Regulation Warning Systematically Suppressed

1998-05-07 00:00:00 +0000 UTC | Importance: 10/10

CFTC Chair Brooksley Born issued a concept release seeking public comment on regulating the $29 trillion over-the-counter derivatives market, warning of systemic risks from unregulated trading. Within hours, Treasury Secretary Robert Rubin, Federal Reserve Chairman Alan Greenspan, and SEC Chairman …

Brooksley Born Robert Rubin Lawrence Summers Alan Greenspan Arthur Levitt derivatives cftc regulatory-capture financial-crisis systemic-risk +2 more

Citigroup Merger Violates Glass-Steagall, Forces Deregulation

1998-04-06 00:00:00 +0000 UTC | Importance: 10/10

Citicorp CEO John Reed and Travelers Group CEO Sanford Weill announce on April 6, 1998, the merger of their companies to form Citigroup, a $140 billion conglomerate combining banking, securities, and insurance services under brands including Citibank, Smith Barney, Primerica, and Travelers. The …

Sanford Weill John Reed Citicorp Travelers Group Federal Reserve +3 more deregulation regulatory-capture neoliberalism banking-deregulation corporate-power +2 more

Robert Rubin Appointed Treasury Secretary After 26 Years at Goldman Sachs

1995-01-10 00:00:00 +0000 UTC | Importance: 8/10

Robert E. Rubin was sworn in as the 70th Secretary of the Treasury, bringing Wall Street directly into the highest levels of economic policymaking. Rubin had spent 26 years at Goldman Sachs, rising to co-chairman from 1990-1992, before joining the Clinton administration as director of the National …

Robert Rubin Bill Clinton Goldman Sachs revolving-door goldman-sachs treasury financial-deregulation regulatory-capture

Clinton Signs NAFTA Creating Corporate Tribunals to Override National Laws

1993-12-08 00:00:00 +0000 UTC | Importance: 9/10

President Bill Clinton signs the North American Free Trade Agreement (NAFTA) into law, creating the first major free trade agreement to include Investor-State Dispute Settlement (ISDS) provisions binding developed nations. NAFTA’s Chapter 11 establishes corporate tribunals that allow …

Bill Clinton Al Gore Robert Rubin NAFTA Corporate Lobbies Mexican Government +1 more nafta free-trade corporate-tribunals isds investor-state-disputes +3 more