Tuesday, August 16, 2011

Robert Rubin is brilliant. I wish I'd have gone to university, I could have learnt me somethin'

Robert Rubin is is a very famous and rich man, one of the most important coupon clippers in banking and government. He is presently co-chairman of Goldman Sachs, the coupon clipping outfit that lost over one billion dollars of the Libyan people's money and is being investigated constantly for thievery of one sort or another, always from workers and the poor.

Rubin along with Bill Clinton abolished the depression era Glass Steagall Act in 1999 that separated commercial and investment banking.  He  received over $17,000,000 in compensation from Citigroup and a further $33,000,000 in stock options as of 2008.

I was reading Charlie Rose's interview with him in Business Week and the clarity of his thought, of the way he expresses himself and explains, in the most lucid and simple way the economics of capitalism, reveals why he is as wealthy as he is and I am not.  Rose asked if Rubin thinks the super committee that has come out of the debt ceiling debate will work.  That debate was the one where Obama capitulated and agreed to spending cuts and no taxes. Rubin's response:
What we should do now, and it directly relates to your question, is I think that we need to have a real public discussion about the consequences of our decisions. And what we need is far greater public understanding of what we need to do. And if the public understands the importance of putting in place a serious deficit-reduction program that defers its implementation date for a couple of years to try to give us time to get back on track, and also understands that we must have substantially increased revenues if we’re going to have the public investment that we need and the social safety net that the American people want, then we can put ourselves in a position where confidence can be substantially increased.
Wow! You can't get any clearer than that.
Rubin is a member of the Africa Progress Panel (APP), an independent authority on Africa aimed at helping the people there. Rubin is also a founder of The Hamilton Project, an economic policy think tank which is intended to produce research and proposals on how to create a growing economy that benefits more Americans. according to Wikipedia.     Rubin is a real thug.  Him and Alan Greenspan opposed  the regulation of derivatives that are causing such havoc in the financial services industry.  The London Riots and the LA riots have caused far less misery and damage than this fella's policies.  The youth get jail, Rubin gets rich and the Presidential Citizens Medal from President Clinton.
 
Heaven help the Africans and the rest of us if Robert Rubin is in the room.

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