Given what he said, I'm surprised that Robert Rubin consented to an interview with the Wall Street Journal. He actually invoked Greenspan as someone whose reputation was unfairly tarnished as Rubin feels his own may be. Why is it so hard for people to admit they screwed up? I can understand why a 30-year-old may plead ignorance or innocence. But Rubin is 70. He was not being paid the big bucks to look the other way. Yet, the mantra is the same: it's the system, not my bank; it's the other guys, not me.
Will Rubin's unwillingness to admit errors - which is the first step in solving problems - be replicated in his followers, Summers and Geithner? Obama's smartest thing may be the appointment of the Economic Recovery Advisory Board whose members will hopefully be adults.
1 comment:
Al - I agree 100 percent.
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