Word: rubins
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REPORTERS: Elizabeth L. Bland, Hannah Bloch, Barbara Burke, Tresa Chambers, Tom Curry, Kathryn Jackson Fallon, Janice M. Horowitz, Jeanette Isaac, Daniel S. Levy, Lina Lofaro, Lisa McLaughlin, Lawrence Mondi, Alice Park, Michael Quinn, Jeffery C. Rubin, Andrea Sachs, Alain L. Sanders, David Seideman, Sribala Subramanian, David E. Thigpen...
...White House liked much of what Gingrich said. For example, on who could offer the bigger tax cuts: "We cannot have a bidding war. We made that mistake in the '80s. We ought to set a parameter with regards to the tax cut." To Treasury Secretary-designate Bob Rubin, Gingrich said, "We don't want to do anything that hurts us in terms of the markets." The White House took that as a sign the Speaker may be willing to scale back some of his plans...
...Senate confirmed Robert Rubin as Secretary of the Treasury today by a vote of 99-0 (Senator Jay Rockefeller was absent). Rubin, a former co-chairman of Wall Street's Goldman Sachs, has earned bipartisan respect for his performance as chairman of President Clinton's National Economic Council. He succeeds Lloyd Bentsen, a former chairman of the Senate Finance Committee, who resigned the Treasury post last month to return to private business in Texas...
Separately, Gingrich learned that the White House had launched a subterranean assault on another G.O.P. budget proposal. Treasury Secretary-to- be Robert Rubin was talking privately to Wall Street economists about the dangers of the Republican plan to change the government's accounting rules to make tax cuts appear less expensive. A negative reaction by the financial markets could discredit many of the Republican taxing and spending plans. Typically, Gingrich's planned response to Rubin was a counterassault, inviting 25 top Wall Street economists to Washington to suggest they were "being stupid" to buy the White House line...
REPORTERS: Elizabeth L. Bland, Hannah Bloch, Barbara Burke, Tresa Chambers, Tom Curry, Kathryn Jackson Fallon, Janice M. Horowitz, Jeanette Isaac, Daniel S. Levy, Lina Lofaro, Lisa McLaughlin, Lawrence Mondi, Alice Park, Michael Quinn, Jeffery C. Rubin, Andrea Sachs, Alain L. Sanders, David Seideman, Sribala Subramanian, David E. Thigpen...