deregulating the banking industry would be good for capital gains, as well as Main Street.
Another potential pick for the post is Robert Rubin, who served under Clinton in the same position and is currently Director and Senior Counselor of Citigroup. Rubin played a key role in abetting another neoliberal objective: deregulation. Where Volker was hung up on economic austerity, Rubin pushed for more deregulatory policies that ended up shifting jobs, and entire industries, overseas.
Rubin even pushed for Clinton’s dismantling of Glass-Steagall, testifying that deregulating the banking industry would be good for capital gains, as well as Main Street. “[The] banking industry is fundamentally different from what it was two decades ago, let alone in 1933,” Rubin testified before the House Committee on Banking and Financial Services in May of 1995.
Rubin even pushed for Clinton’s dismantling of Glass-Steagall, testifying that deregulating the banking industry would be good for capital gains, as well as Main Street. “[The] banking industry is fundamentally different from what it was two decades ago, let alone in 1933,” Rubin testified before the House Committee on Banking and Financial Services in May of 1995.
