> Obama Regime Report < Obama Regime Report: Liberal Robert Rubin Oversees Citigroup Failure, Tune of 20 Billion, After the Bail Out Now Bails Out Himself

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Thursday, December 11, 2008

Liberal Robert Rubin Oversees Citigroup Failure, Tune of 20 Billion, After the Bail Out Now Bails Out Himself


One thing we don't hear much about is the domination 0f the ruined financial and banking industry is almost entirely infested with liberal ideologues from top to bottom. They've always been fiscally dangerous and this is why the conservatives of today have failed as well. Fiscal responsibility has been entirely tossed out the windows and today's troubles have been entirely caused by liberals.

Even the former treasury secretary, Clintonite Robert Rubin and his friends Jacob Lew and Michael Froman have now joined the scrapheap of liberal failures in banking leaving damaged Citigroup in his wake of high paid failure and has been kicked to the curb about 20 billion dollars too late. Just another in the the long line of ridiculously compensated liberal executives who have trashed America with their policies and mismanagement yet take with them millions counting in the hundreds to their own personal bank accounts in spite of the companies going belly up.

Franklin Raines of Fannie Scandal and his looting, hundreds upon hundreds of millions of dollars basically looted from the company in the form of salary, yet no calls for federal investigations of these failures as there were in the Enron looting which many considered a conservative failure and issue. Yet not as single charge leveled against this liberal crook and Obama financial adviser, God help us all.

It's high time these looting liberals are hauled into courtrooms to answer to these trillions of dollars of failures just like the conservative businessmen who have failed so visibly and miserably like Rubin.

And now they have the keys to the treasury, the white house and congress with no oppositional oversight whatsoever, and we're looking to these same crooks to fix what they themselves broke in the first place? Liberal Cowards and Crooks like Robert Rubin, even the liberal press knows the truth about this guy so why don't these federal prosecutors and banking oversight people start investigating this trillion dollar money grab.

Precipitated by Raines and his buddies in Congress like Barney"I didnt do it" Frank, Chris Dodd, Maxine Watters, Franklin Raines, Rubin of coarse, they are the culprits of this trillion plus dollar gargantuan financial meltdown, and everyone knows it. Everyone. Time for these crooks to go to prison, Frank 'll love it there so start with him, then move on down the line to crooks like Rubin.

Rubin’s Career at Citigroup Ends After $20 Billion of Losses

Bloomberg.com: Worldwide: "Jan. 10 (Bloomberg) -- Robert Rubin, the former Treasury secretary who advised Citigroup Inc. as it lost $20 billion in the subprime mortgage crisis, resigned his position as senior counselor and won’t stand for re-election to the board.

Rubin’s departure comes as Citigroup and Morgan Stanley are in talks to merge their brokerage units, said a person familiar with the matter. Rubin, 70, intends to “deepen his involvement in outside activities and organizations to which he has been strongly committed,” the New York-based bank said in a statement on Jan. 9.

Rubin, who served at the Treasury’s helm from 1995 to 1999 under President Bill Clinton, was criticized by investors for collecting more than $150 million in pay in a decade while failing to steer Citigroup away from subprime securities. The investments led to four straight quarterly losses and prompted the bank to turn to the government for a rescue package.

“His reputation has very much been damaged by what has happened at Citi,” Bert Ely, chief executive officer of Ely & Co., a bank consulting firm in Alexandria, Virginia, said in a Bloomberg TV interview. “Fair or not, Citi’s problems do reflect negatively on him.”"continued


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