President Clinton announced on May 12, 1999, that Treasury Secretary Robert Rubin would leave his post and that his deputy, Lawrence Summers, would be nominated to succeed him. Known for three decades of work on Wall Street, Rubin stepped into the role of Treasury Department secretary well-versed in financial markets, but less familiar with the workings of Washington. He had to learn how to deal with members of Congress often hostile to the Clinton administration's economic policies, as he found out during a 1995 dispute over lifting the nation's debt limit. Rubin, a staunch defender of a strong U.S. dollar and trade balance, has received much credit for the Clinton administration's economic policies, including budget cuts and helping to deal with the financial crisis in Asia.
Sworn in: Jan. 10, 1995 (nominated December 1994, confirmed Jan. 10, 1995)
Succeeded: Lloyd Bentsen
Previous occupation: Director, National Economic Council, assistant to the president for economic policy, 1993-95; Goldman, Sachs & Co., New York City, 1966-92 (associate, 1966-71; general partner, 1971-80, management committee, 1980-87; vice chairman, co-chief operating officer, 1987-90; co-senior partner and co-chairman, 1990-92); attorney, law firm of Cleary, Gottlieb, Steen & Hamilton, New York City, 1964-66.
Education: Harvard College, 1960 (A.B. in economics, summa cum laude); Yale Law School, 1964 (L.L.B.); attended the London School of Economics.
Hometown: New York City
Date of Birth: Aug. 29, 1938
Spouse: Judith Oxenberg Rubin, who served as the New York City commissioner of protocol for four years under Mayor David M. Dinkins.
Children: Two adult sons, James and Philip
Of note: Rubin, the country's 70th Treasury secretary, served as the fund-raising chairman of President Clinton's 1992 campaign.
Summers a Key Player in Global Economy
May 13, 1999
An Unlikely Policy Partnership Forged in Mutual Respect
May 13, 1999
Treasury Secretary Rubin Resigns
May 12, 1999
Treasury's High-Stakes Player
June 18, 1998
Rubin: U.S. to Consider Reforms
April 15, 1998
Rubin Keeps Traders Cool In Asian Crisis
Dec. 13, 1997
Now Rubin Is on the Other Side of the Street
Feb. 20, 1997
Rubin Signals Shift to Curb Dollar's Rise
Feb. 8, 1997
GAO Says Rubin Tapped Retirement Funds Legally
Sept. 7, 1996
Rubin Spoke but Wall St. Heard 'Wolf '
Jan. 24, 1996
Rubin Wins Senate's Approval
Jan. 11, 1995
Rubin Stepping Into Spotlight at Treasury
Dec. 7, 1994
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