We very strongly want to see good financial services modernization legislation passed this year, ... The bill that came out of the Senate banking committee does not meet these requisites.
More Quotes from Robert Rubin:
We always have to be watchful with respect to anything that can affect our system, ... But I don't know of anything in that area that rises to the level of a systemic risk to our economy at this time.Robert Rubin
With the safeguards we have proposed, ... subsidiaries and affiliates are absolutely identical with respect to the ability of a bank to transfer any subsidy that may exist in the bank.
Robert Rubin
The international community has a strong program. I think the key, however, is that the program is only as effective as the implementation. And I think that we have been in a very aggressive mode over the course of the last year, and I think that what we need to do is remain in even more aggressive mode as we go forward, so each of us does our part,
Robert Rubin
Unfortunately, Russia hasn't adopted the reforms it needs, but we need to work with them to see they adopt the reforms,
Robert Rubin
The surpluses present an enormous opportunity and one that we must not squander, ... We believe that the surpluses should be reserved until Social Security is placed on sound financial footing for the next century. After 2010, the huge baby boom generation will begin retiring which will put increased pressure on Social Security and it was on that basis that we reached the conclusion that nothing should be done with these surpluses until that problem is addressed.
Robert Rubin
They can all come together and begin to feed on each other, in which case you could have a very severe and seriously threatening set of economic impacts that would create an immensely difficult problem for our economy and our political system,
Robert Rubin
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Measured by any standard, white or black, Washington must be regarded today as one of the great men of this country: and in the future he will be so honored.
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