Today on Zakaria GPS we have Robert Rubin, Citibank and Wall Street megamoneymeister and Clinton’s Secretary of the Treasury.
Rubin is always one of the most impressive observers of the economy, and distinguished as one of the few Secty’s of treasury who presided over a Federal balanced budget. He articulates complexity well and also avoids the partisan nonsense that clouds these debates. For example he was complimentary of Paulson’s efforts
Main point was that we need to do more to address mortgages at home and bank level to stabilize things and that he wanted a *huge* stimulous package – probably not in the form of tax rebates because they don’t tend to hit economy fast enough and are often saved.
Rubin is Obama’s economic advisor (along with Volker, Buffett, Summers). Rubin was very complimentary of Obama’s style and intellect, pointing out that at the meetings Obama is always quick to divorce the campaign considerations from the economic solutions, and to listen to those who agree and disagree.
The bad news is that Rubin sounded like he was not willing to go back to Washington and take the position of Secretary of the Treasury again even though many (certainly I) would like to see him there again.