informationliberation
The news you're not supposed to know...




An Introduction to Austrian Economics: Understand Economics, Understand Everything
The Century of the Self: The Untold History of Controlling the Masses Through the Manipulation of Unconscious Desires
The Disappearing Male: From Virility to Sterility

The Obama Deception: The Mask Comes Off
Operation Gladio: The Hidden History of U.S. Sponsored False Flag Terrorism in EuropeThe New American Century: The Untold History of The Project for the New American Century
(more)
Article posted Mar 09 2012, 5:11 PM Category: Economy Source: Bloomberg Print

Rubin Says He Has Too Many Dollars 13 Years After Departing U.S. Treasury

By Nina Mehta

Robert Rubin, who as U.S. Treasury secretary in the 1990s promoted a stronger dollar, said he has too much of his personal investments in the currency.

A “disproportionate amount” of his assets are in cash and he “should be more allocated away from the dollar,” Rubin, 73, said yesterday in a speech at the TradeTech conference in New York. He said he also was “greatly overweighted” in private equity and had investments in hedge funds.

Rubin, who served in President Bill Clinton’s administration between holding senior jobs at Goldman Sachs Group Inc. (GS) and Citigroup Inc. (C), had a so-called strong-dollar policy as Treasury secretary that successors followed. He said yesterday that his support for Federal Reserve quantitative easing has waned since the initial round, known as QE1.

“QE1 was a necessity, QE2 I sort of wondered about,” he said. “QE3 would accomplish very little. Not only would it expand the money supply, it would undermine confidence that the Fed would ultimately monetize our debt.”

The U.S. economic outlook is the “most uncertain and the most complex” it’s been in the past half-century, Rubin said. He cited concerns about the European sovereign-debt crisis, the labor and housing markets, and stagnant mean wages. A lack of change in U.S. income distribution “could undermine public support for trade and market-based economics,” he said.

Rubin, who left the Treasury in 1999, collected more than $150 million in pay from Citigroup in the decade that followed. He took a part-time counselor role at merger-advisory boutique Centerview Partners LLP in 2010 and stopped advising hedge funds Taconic Capital Advisors LP and Farallon Capital Management LLC, Adam Miller, his spokesman, said at the time.

Read More





Latest Economy
- Obamacare Architect Says Society Would Be Better Off If People Only Lived To Age 75
- Elizabeth Warren Says US Has "No Future" If Free-Market Embraced
- Cost of Renouncing US Citizenship Goes From Free In 2010 to 450$, And Now It's Been Jacked to $2,350
- Colorado's Illegal Pot Market Thrives
- Neighborhood Bully - America Recklessly Throws its Weight Around
- Doug Casey on the Phil Donahue Show (1980/1981)
- Yellen: Where No Man Has Gone Before
- Block on CNBC: Privatize the Roads









No Comments Posted Add Comment


Add Comment
Name
Comment

* No HTML


Verification *
Please Enter the Verification Code Seen Below
 


PLEASE NOTE
Please see our About Page, our Disclaimer, and our Comments Policy.


FAIR USE NOTICE
This site contains copyrighted material the use of which in some cases has not been specifically authorized by the copyright owner. Such material is made available for the purposes of news reporting, education, research, comment, and criticism, which constitutes a 'fair use' of such copyrighted material in accordance with Title 17 U.S.C. Section 107. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner. It is our policy to respond to notices of alleged infringement that comply with the DMCA and other applicable intellectual property laws. It is our policy to remove material from public view that we believe in good faith to be copyrighted material that has been illegally copied and distributed by any of our members or users.

About Us - Disclaimer - Privacy Policy



Advanced Search
Username:

Password:

Remember Me
Forgot Password?
Register

Man Assaulted, Arrested, Cellphone Illegally Confiscated after Filming a Car on Fire - 09/30Cops Seize Car When Told To Get A Warrant, Tell Owner That's What He Gets For 'Exercising His Rights' - 09/29Cop Who Murdered James Boyd, Caught Plotting on Dashcam, "I'm Going to Shoot Him in the Penis" - 09/29SC Trooper Groubert Told Supervisor Man He Shot 'Kept Coming Towards' Him, Contradicting Video - 09/29Guards at Concentration Camps Were Just Doing Their Jobs - 09/30Government "Security" Dictated by Prank-Calling Sadist in Walmart Shooting - 09/30Blackmail, Witness Tampering, Criminal Misconduct: Routine Business for the Flathead County Gestapo - 09/29Ninth Circuit Outlaws Random Motorist Searches Over Fish - 09/29

Rialto, CA Police Made to Wear Cameras, Use of Force Drops by Over Two-ThirdsCop Who Karate Chopped NY Judge In Throat Gets Off Scot-FreeFlorida Cop Smashes Compliant Woman's Face Into Car -- "Maybe Now You Can Understand Simple Instructions"VIDEO: Lapel Cam Reveals A Day In The Life Of A U.S. Police Officer (Tasing, Beating, Breaking & Entering, Stomping On Heads... and Laughing About It)Caught On Tape: Officer Sucker Punches Inmate In Face, Files Report Claiming 'Self Defense'Insult Person On Twitter, Go To JailSWAT Team Brings TV Crew To Film Raid Against Threatening Internet Critic -- Raids Innocent Grandma InsteadCop Karate Chops NY Judge In The Throat
(more)

 
Top