Rubin's in the Clear - So much for reform

[Carl Remick]

>From: Nomiprins at aol.com
>
>And just how is Robert Rubin's warning the rating agencies that downgrading
>Enron to junk "might wreak havoc in the markets" (3 weeks before Enron's
>bankruptcy and just after they disclosed a $1.2bln shareholder hit) while
>he's on Citi's pay roll and Citi's negotiating an Enron related banking 
>deal,
>  any different from investment bankers or CEO's urging analysts to 
>maintain
>upbeat calls on deadbeat companies?

Arguably the difference is that Rubin was bolder in issuing a CYA 
disclaimer.  After all, he reportedly started his phone call to Treasury 
Under Secretary Peter Fisher by saying it was "probably a bad idea" for 
Fisher to pressure the ratings agencies to delay downgrading Enron, then he 
simply asked Fisher "what he thought" of the idea.  Pretty smooth.

Carl

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