March 26, 2008 –
Lawrence Summers spoke at the Council on Foreign Relations last week and was a bit uncomfortable about my question regarding Clinton administration anti-money-laundering policy.
I pointed out that Treasury Secretary Robert Rubin (who happens to be one of the Council‘s co-chairs) had not acted against money-laundering because he didn‘t want to stop the free flow of cash into the US – in effect, into Wall Street. But when Summers succeeded Rubin in the job, he had taken action.
The facts are important because Rubin is poised to move into a Democratic administration — especially if Clinton wins — as a high-level Wall Street influential.
Nov 3, 2007
Learning of General Pervez Musharraf‘s declaration of emergency rule (martial law) in Pakistan, I can‘t help but recall the gushing introduction of the general made by Citigroup honcho and Democratic financial eminence grise Robert Rubin when the dictator, who came to power in a military coup, spoke at the Sept 25, 2006 meeting of the Council on Foreign Relations.
Rubin urged the audience to “understand a great deal more than those in our country tend to know about Pakistan, the Muslim world, the meaning of democracy in the context of countries very different from our own.”
Rubin‘s obsequious comments might be connected to the fact that Musharraf had appointed a top Citigroup official to be his finance minister, giving the bank privileged entrÃ©e into the country.
A question now for Robert Rubin: Just how do you fit martial law into your expansive meaning of democracy?