His hands visibly shaking as he answered questions, Rubin told congressional investigators he was not a decision-maker at the bank during the worst of its troubles. The former U.S. treasury secretary in the Clinton administration said Citi's risk-assessment ability was strong.
Great work if you can get it (and apparently Rubin is expert at getting it) making big bucks but carrying no responsibility. I think he used that same line for the dot-com bust (and follow-on) that was under way at the end of Clinton's second term.
Eight former and current Citi executives have testified. All have basically said that no one, including them, could have foreseen the problems that nearly destroyed the bank.
That's odd. I predicted it. Maybe they should have hired me. But I know several other people who predicted it as well (all bought low, sold high), so I would have had competition for the job. Maybe the problem is that some of these guys didn't.