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SW: addec riticism points from Solomon's Reuters blog
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==Council on foreign relationsRecord and controversies==
Felix Salmon, writing in Blaming Rubin is a member of the COuncil on Foreign Relations.at his Reuters blog<ref>Felix SOlomon, [http://wwwblogs.cfrreuters.orgcom/biosfelix-salmon/2922010/robert_e_rubin.html CFR bio05/01/blaming-rubin/ Blaming Rubin], Accessed Oct 11Reuters, 2009May 1, 2010</ref>, outlined the following criticisms of Rubin's record: *He epitomized the way in which traders ousted investment bankers and turned investment banks into systemically-dangerous institutions by making them much larger than they had ever been in the past.*For all his vocal bellyaching about tail risk, he ultimately made his money as an arbitrageur, making leveraged bets that something with a 95% chance of happening was, indeed, going to happen. That’s a strategy which works until it doesn’t — but by the time it failed, Rubin had moved on to greater things.*He was one of those senior men at investment banks who encouraged risk-taking without understanding the risks which were being taken.*He was perfectly happy to see Larry Summers cheer on the single most disastrous deregulation of derivatives ever, the CFMA.*He allowed the illegal creation of Citigroup with a nod and a wink, knowing that Gramm-Leach-Bliley was just around the corner and would make Citigroup legal in retrospect.*He then collected his just rewards in the form of $126 million in pay from Citi, for a job which even Weisberg admits involved no managerial responsibility.*He turned the job of Treasury secretary into a job where the first priority was to make Wall Street happy, asking for nothing but cheap debt in return.*He institutionalized and epitomized the revolving door from Wall Street to Washington and back again.*He set himself up as a wise expert on risk, even as he had no idea what risks his own company was running.*He took on a job with significant power, but ducked any responsibility which might normally go with such power.*He specifically refused to take any responsibility for his recommendations to Weill and Prince on the subject of risk-taking.*He failed to push Prince to put in place any kind of succession plan, thereby creating a horrible vacuum at the top of Citigroup just as strong leadership was desperately needed.*He’s slippery and unapologetic in hindsight.
==Articles & resources==
