They were certainly very fiercely opposed to this and persuaded me that this would cause chaos." Rubin and his deputy Lawrence Summers also steered through the 1999 repeal of the Glass–Steagall Act (1933), which had separated investment banking from the retail side.
up through and including Citigroup's bailout by the U. He is co-chairman of the Council on Foreign Relations, and is a member of the Africa Progress Panel (APP), a group of ten distinguished individuals who advocate at the highest levels for equitable and sustainable development in Africa.
Rubin also serves as chairman of the board of the Local Initiatives Support Corporation, the nation's leading community development support organization, and serves on the board of trustees of Mount Sinai-NYU Health. He joined the management committee in 1980 along with Jon Corzine.
In the article, Rubin advocates for the reform of the financial system in order to better protect against systemic risk and devastating crises in the future.
Rubin says "the market-based model must be combined with strong and effective government, nationally and transnationally, to deal with critical challenges that markets won't adequately address." Upon leaving the Clinton administration, Rubin joined the board of the Local Initiatives Support Corporation (LISC), the nation's leading community development support organization, as chairman.
He was a member of Boy Scout Troop 35, sponsored by the American Legion, and received the rank of Eagle Scout. Rubin is married to Judith Leah (Oxenberg) Rubin, who served as the New York City Commissioner of Protocol for four years under Mayor David Dinkins.
The Rubins have two grown sons, James ("Jamie") Rubin (not to be confused with the former diplomat and journalist James Rubin who served under President Clinton), and Philip Rubin.
Robert Edward "Bob" Rubin (born August 29, 1938) is an American lawyer, former cabinet member, and retired banking executive.
He served as the 70th United States Secretary of the Treasury during the Clinton administration.
Additionally, Rubin serves as counselor at Centerview Partners, an investment banking advisory firm based in New York City. Rubin was Vice Chairman and Co-Chief Operating Officer from 1987 to 1990.
He moved to Miami Beach, Florida, at an early age and graduated from Miami Beach High School. From the end of 1990 to 1992, Rubin served as Co-Chairman and Co-Senior Partner along with Stephen Friedman.
In its February 15, 1999, edition, Time Magazine dubbed the three policymakers "The Committee to Save the World." Upon Rubin's retirement, Clinton called him the "greatest secretary of the Treasury since Alexander Hamilton".