back to top

We’ve updated our privacy notice and cookie policy. Learn more about cookies, including how to disable them, and find out how we collect your personal data and what we use it for.

Community

The Rubin Con Goes On - Asking the Devil Questions

I just don't understand how everyone that caused all of these financial problems are trying to walk away like they had nothing to do with any of this... Good read: By Robert Scheer Via Truthdig The corruptions of journalism were on full display when CNN’s Fareed Zakaria turned to Robert Rubin this past Sunday for advice on how to fix the financial crisis that he, as much as anyone, caused. I was trapped on a treadmill in front of an overhead television and unable to turn the thing off in time to avoid this assault on my mental and physical health. As a result I was forced to hear Rubin, Bill Clinton’s treasury secretary, insist that he always favored regulating toxic derivatives and is therefore not at all responsible for the ensuing economic meltdown. He was responding to the sole critical question from the CNN host, who quoted a question by New York Times columnist Paul Krugman: “Did all the senior members of the [Obama] economics team have to be protégés of Robert Rubin, the apostle of financial deregulation?” Unfortunately, Zakaria just rolled over when his guest simply lied in response: “First of all, I am not the apostle of financial deregulation. Quite the contrary. On derivatives … I developed a deep concern about the systemic problem that was created. When I was back at Goldman Sachs, it was a concern I had … a concern I had when I was in government. And in fact, when I wrote my book in 2003, I was so concerned about it that I actually included that that discussion in there.” read more:http://www.truthdig.com/report/item/the_rubin_con_goes_on_20100810/

Posted on
This post was created by a member of BuzzFeed Community, where anyone can post awesome lists and creations. Learn more or post your buzz!