ACCESSING CLASSIFIED FILES
Decrypting documents...
Your connection is being monitored
Back to Individuals
high risk
Robert Rubin
70th United States Secretary of the Treasury
Government Official
Overview
Robert Rubin served as Treasury Secretary under President Clinton from 1995 to 1999, during which he co-led the financial deregulation movement including the repeal of the Glass-Steagall Act. After leaving government, he joined the board of Citigroup, which was subsequently bailed out during the 2008 financial crisis. Critics argue his deregulatory policies directly contributed to the conditions that caused the financial meltdown.
Key Affiliations
Controversies & Concerns
Co-led repeal of Glass-Steagall Act, removing Depression-era banking safeguards
Joined Citigroup board after leaving Treasury; Citigroup received $45 billion in TARP bailout funds
Earned over $126 million from Citigroup while the bank took on catastrophic risk
Advocated against regulation of derivatives markets that later amplified the 2008 crisis
Related Investigations (1)
Known Associates & Connections
Tim Geithner
Mentor to Geithner; Rubin's deregulation led to financial crisis
Henry Paulson
Successor at Goldman and later Treasury
Christopher Dodd
Dodd-Frank reform came after crisis Rubin's deregulation caused
Sources & Documentation
1 documented sources from official records, investigations, and reports
Personal Information
Education
Key Timeline
1995
Appointed Treasury Secretary under President Clinton
1999
Glass-Steagall Act repealed with Gramm-Leach-Bliley Act
1999
Left Treasury, joined Citigroup board
2008
Citigroup received $45 billion in TARP bailout funds