Wednesday, November 26, 2008
Flashback to 1999
It's striking to consider how much has changed in nine years. In the wake of the financial meltdown, Alan Greenspan's reputation has taken a beating, Robert Rubin's reputation is starting to take one too, and Larry Summers -- three years after losing his job as Harvard president following some politically incorrect speculations about standard deviations -- is on his way back to Washington, to head the incoming Obama Administration's Council of Economic Advisers.
In his profile of Robert Rubin in the Financial Times last year ("Man in the News: Robert Rubin"), John Gapper noted that a framed copy of this Time Magazine cover adorned a wall in Rubin's office at Citigroup.