Gunslinger wrote:
Obama transition members have Fannie ties
That isn't the half of it.......
(CBS) Former treasury secretary
Robert Rubin, who is advising Barack Obama, and former Hewlett-Packard head Carly Fiorina, who is advising John McCain, said on Face The Nation Sunday that a balanced budget is foreseeable despite a federal deficit that has ballooned to more than $400 billion.
"We could have had surpluses during this decade," said Rubin. "We started the decade with surpluses and we had good federal revenues. But instead, because of the fiscal policies put in place, we had deficits through all this period.
http://www.cbsnews.com/stories/2008/08/ ... 7557.shtmlRobert Rubin: What meltdown? In a talk on Wednesday, the Citigroup director said the current financial upheaval is just cyclical. And none of the blame that there was to assign went to Wall Street.By Katie Benner, writer-reporter
(Fortune) -- A lending catastrophe has consumed homeowners, mortgage companies, and the financial system, but
Robert Rubin, Citigroup's director and executive committee chair, doesn't seem particularly alarmed.
He told a small crowd at Manhattan's Cooper Union for the Advancement of Science and Art Wednesday that the problems now roiling the markets and forcing the Federal Reserve into a defensive posture are "all part of a cycle of periodic excess leading to periodic disruption," and that we are not in fact on the verge of a financial meltdown.
http://money.cnn.com/2008/01/31/news/ec ... r.fortune/Citi Swings Giant AxFinancial mammoth plans to cut 53,000 jobs — 20% of work force — in dramatic move to slash costs, manage debt crisis
Citigroup to Axe Another 53,000 Jobs
Monday, November 17, 2008
NEW YORK — Citigroup Inc. is cutting approximately 53,000 more jobs in the coming quarters as the banking giant struggles to steady itself after suffering massive losses from deteriorating debt.
http://www.foxnews.com/story/0,2933,453104,00.html