Word: rubins
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...soften recessions, the President tried to distinguish his opposition to the amendment from his support for "the impulses that are giving rise to it." He also pursued a low-key campaign of quiet calls to wavering Democrats, offering them a chance to sit down with Treasury Secretary Robert Rubin and Budget Director Alice Rivlin to work through the numbers. Says one White House adviser: "The last thing Senator Conrad wanted was the President's calling him up and pressuring...
After Wednesday's market chaos, U.S. Treasury Secretary Robert Rubin met in Washington with Mexican Finance Minister Guillermo Ortiz for talks aimed at nailing down all the details and conditions of the $20 billion in loans and guarantees that the U.S. is prepared to extend, out of an international bailout package totaling almost $50 billion. A U.S. source described the talks as ``very hot.'' Lawrence Summers, Undersecretary for International Affairs at the Treasury and a participant, said the U.S. was insisting on ``very tough conditions'' to make sure the loans would be repaid. One condition is that...
...Clinton Administration proposed sweeping changes in the nation's banking system that would permit commercial banks to sell insurance and underwrite securities. Treasury Secretary Robert Rubin outlined the new proposal, which would allow banks to "affiliate" with Wall Street firms, insurance companies and other financial service providers. It would repeal several federal restrictions, including the Depression-era Glass Steagall Act, which forbids banks from underwriting securities or selling insurance. Banks for years have been seeking a repeal of Glass-Steagall. Their efforts were blocked by Rep. John Dingell (D-Mich.), who chaired the House Energy and Commerce Committee until...
...Kathleen Adams, Lina Lofaro, Alice Park, Jeffery C. Rubin, Alain L. Sanders and Sidney Urquhart
...White House acknowledge that it would have to go it alone. ``The Administration relied on [House Speaker] Newt Gingrich's saying he was for it,'' says a Democratic congressional leader, ``and they relied on him for everything after that.'' But when neither Gingrich nor anyone else could deliver, Clinton, Rubin and Panetta huddled in Panetta's White House office at 11:30 p.m. to complete work on the executive action. Clinton arrived from a dinner of the National Governors Association still dressed in a tuxedo and promptly helped himself to the Domino's pepperoni-and-mushroom pizza that Panetta...