Word: rohatyn
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WASHINGTON, D. C.: After Republicans forced the White House to drop its campaign to name heavyweight investment banker Felix Rohatyn to the Federal Reserve's number two spot, the Clinton Administration finds itself scrambling for an acceptable replacement. Chairman Alan Greenspan is expected to be reconfirmed in his job, but TIME's Adam Zagorin says President Clinton is fighting an uphill battle to fill the two open spots on the board with liberal economists who could counter Greenspan's fiscal conservatism. "It's unclear which Clinton nominees, if any, could pass muster with Al D'Amato and the Senate Banking...
...President does have a chance to nudge the Fed a bit more, legitimately. To fill the just-vacated post of vice chairman, the Administration has been floating the name of Felix Rohatyn, a top investment- banking dealmaker at Lazard Freres. Rohatyn, a Democrat best known as the head of the municipal corporation that saved New York City from bankruptcy in the 1970s, has both the assertive personality and the towering reputation on Wall Street to voice progrowth arguments forcefully inside the board. In any case, to keep the economy humming, the budget-bound President has only one place to look...
Another frequently mentioned candidate is Felix Rohatyn, a Wall Street investment banker, and long-time friend of Greenspan...
...Rohatyn, the managing director of Lazard Freres & Co., is one of the few prominent Wall Street figures who has supported liberal and Democratic causes, according to the Wall Street Journal...
...notion of privatizing Social Security? "Maybe," says Michael Steinhardt, the hedge-fund guru who chairs the Progressive Foundation, which will publish the manifesto. Steinhardt is one of about two dozen wealthy Democrats behind the project, a roster that includes entertainment mogul Barry Diller; investment bankers Steve Rattner, Felix Rohatyn and Barrie Wigmore; and entrepreneurs Mitch Hart, who started Electronic Data Systems with Ross Perot, and Sandy Robertson, who assembled much of the California support so vital to Clinton's '92 drive...