Rubin and Greenspan to face crisis inquiry


Francesco Guerrera and Alan Rappeport
Financial Times
April 5, 2010

Robert Rubin, the former Treasury secretary who played a key role in financial deregulation during Bill Clinton’s presidency and who has kept a low profile since stepping down as a special adviser to Citigroup in January 2009, is to be questioned by the US financial crisis inquiry commission this week.

  • A d v e r t i s e m e n t
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The committee, created by Congress and given sweeping powers in May 2009, is also to question Chuck Prince, the former chief executive of Citi, as well as Alan Greenspan, former chairman of the Federal Reserve Board.

The line-up suggests the committee is narrowing the scope of its investigation ahead of a final report to Congress in December.

Phil Angelides, the commission’s chairman, said he would ask Mr Greenspan, who led the Fed between 1987 and 2006, why the central bank did not curb subprime lending before the housing bubble burst.

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