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Robert Edward Rubin (born August 29, 1938) is an American retired banking executive, lawyer, and former government official. He served as the 70th United States Secretary of the Treasury during the
Clinton administration Bill Clinton's tenure as the 42nd president of the United States began with his first inauguration on January 20, 1993, and ended on January 20, 2001. Clinton, a Democrat from Arkansas, took office following a decisive election victory over ...
. Before his government service, he spent 26 years at Goldman Sachs, eventually serving as a member of the board and co-chairman from 1990 to 1992. Rubin is credited as a major force behind Clinton-era economic prosperity, including the 1993 Deficit Reduction Act and
Balanced Budget Act of 1997 The Balanced Budget Act of 1997 () was an omnibus legislative package enacted by the United States Congress, using the budget reconciliation process, and designed to balance the federal budget by 2002. This act was enacted during Bill Clinton's ...
. However, critics of Rubin have since argued that the bank-friendly policies he supported contributed to the
financial crisis of 2007–2008 Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of fi ...
. As of 2022, Rubin is active in several organizations, including as a co-founder of The Hamilton Project, as co-chair emeritus of the
Council on Foreign Relations The Council on Foreign Relations (CFR) is an American think tank specializing in U.S. foreign policy and international relations. Founded in 1921, it is a nonprofit organization that is independent and nonpartisan. CFR is based in New York City ...
, and as a senior counselor at
Centerview Partners Centerview Partners is an American independent investment banking firm. Centerview operates primarily as an investment banking advisory firm. Centerview has 60 partners and 300 professionals with expertise across a wide range of industries, ge ...
.


Early life and education

Rubin was born on August 29, 1938, in New York City to Jewish parents Sylvia (née Seiderman) and Alexander Rubin. He moved to Miami Beach, Florida, at an early age and graduated from
Miami Beach High School Miami Beach Senior High School (Beach High, MBSH) is a secondary school located at 2231 Prairie Avenue Miami Beach, Florida, across from the Miami Beach Convention Center and Botanical Garden. It is located at the corner of Prairie Avenue and D ...
. In 1960, Rubin graduated with an
A.B. Bachelor of arts (BA or AB; from the Latin ', ', or ') is a bachelor's degree awarded for an undergraduate program in the arts, or, in some cases, other disciplines. A Bachelor of Arts degree course is generally completed in three or four years ...
''
summa cum laude Latin honors are a system of Latin phrases used in some colleges and universities to indicate the level of distinction with which an academic degree has been earned. The system is primarily used in the United States. It is also used in some Sou ...
'' in economics from Harvard College. He then attended
Harvard Law School Harvard Law School (Harvard Law or HLS) is the law school of Harvard University, a private research university in Cambridge, Massachusetts. Founded in 1817, it is the oldest continuously operating law school in the United States. Each class i ...
for three days before leaving to see the world. He later attended the London School of Economics and received an
LL.B. Bachelor of Laws ( la, Legum Baccalaureus; LL.B.) is an undergraduate law degree in the United Kingdom and most common law jurisdictions. Bachelor of Laws is also the name of the law degree awarded by universities in the People's Republic of Chi ...
from Yale Law School in 1964.


Early career

Rubin was an attorney at the firm of
Cleary, Gottlieb, Steen & Hamilton Cleary Gottlieb Steen & Hamilton LLP (known as Cleary Gottlieb) is an American multinational law firm headquartered at One Liberty Plaza in New York City. Known as a white shoe law firm, Cleary employs over 1,200 lawyers worldwide. History The ...
in New York City from 1964 to 1966 before joining Goldman Sachs in 1966 as an associate in the risk arbitrage department. He later served as co-
chief operating officer A chief operating officer or chief operations officer, also called a COO, is one of the highest-ranking executive positions in an organization, composing part of the " C-suite". The COO is usually the second-in-command at the firm, especially if t ...
, and became co-senior partner and co-chairman in 1990. Rubin served as New York finance chairman for the Walter Mondale presidential campaign in 1984 and headed the host committee for the 1992 Democratic National Convention in New York. He served on the board of directors of the New York Stock Exchange, the U.S. Securities and Exchange Commission Market Oversight and Financial Services Advisory Committee, and advisory panels for New York Gov.
Mario Cuomo Mario Matthew Cuomo (, ; June 15, 1932 – January 1, 2015) was an American lawyer and politician who served as the 52nd governor of New York for three terms, from 1983 to 1994. A member of the Democratic Party, Cuomo previously served as ...
and Mayor David Dinkins.


Clinton administration

From January 25, 1993, to January 10, 1995, Rubin served in the White House as Assistant to the President for Economic Policy. In that capacity, he directed the National Economic Council, which Bill Clinton created after winning the presidency. The National Economic Council, or NEC, enabled the White House to coordinate closely the workings of the Cabinet departments and agencies on policies ranging from budget and tax to international trade and alleviating poverty. The NEC coordinated policy recommendations going into the President's office, and monitored implementation of the decisions that came out. Robert S. Strauss credited Rubin with making the system work. "He's surely the only man or woman in America that I know who could make the NEC succeed," Strauss said in 1994. "Anyone else would have been a disruptive force, and the council wouldn't have worked."


1993 Deficit Reduction Act

Rubin encouraged Clinton to focus on deficit reduction and he was "one of the chief architects" of Clinton's 1993 Deficit Reduction Act plan. Supporters said the Act helped create the late 1990s budget surplus and strong economic growth, while opponents noted it raised taxes. As officials deliberated the deficit reduction plan, Rubin advocated for tax increases on those in the upper-income tax bracket. ''The Baltimore Sun'' said that the budget deal "was critical" and "convinced nervous bond traders that the new Democratic president was serious about the deficit, lowering long-term interest rates, spurring economic growth and, ultimately, helping to balance the budget."


Secretary of the Treasury

Clinton nominated Rubin as Treasury secretary in December 1994. On January 10, 1995, Rubin was sworn in as the 70th United States Secretary of the Treasury after the U.S. Senate confirmed him in a 99-0 vote. Rubin's tenure with the Clinton administration, especially as the head of Treasury, was marked by economic prosperity in the U.S. Rubin is credited as one of the main individuals behind U.S. economic growth, creating near full-employment and bullish stock markets while avoiding inflation. From the time he joined the White House until he announced his resignation from Treasury in 1999, U.S. unemployment fell from 6.9 percent to 4.3 percent; the U.S. budget went from a $255 billion deficit to a $70 billion surplus, and inflation fell. Rubin was succeeded in early July 1999 as Treasury secretary by his deputy, Lawrence Summers. According to ''CNN Money'', Rubin was "one of the architects of the Clinton administration's economic policy, and is often credited—along with Federal Reserve Chairman Alan Greenspan—for the booming eight-year economic expansion, the second-longest in U.S. history". Senator
Chuck Hagel Charles Timothy Hagel ( born October 4, 1946)


1990s international crises

Upon being sworn into office as Treasury secretary in January 1995, Rubin was confronted with the
Mexican peso crisis The Mexican peso crisis was a currency crisis sparked by the Mexican government's sudden devaluation of the peso against the U.S. dollar in December 1994, which became one of the first international financial crises ignited by capital flight. ...
, which threatened to result in Mexico defaulting on its foreign obligations. President Bill Clinton, with the advice of Rubin and Greenspan, provided $20 billion in U.S.
loan guarantee A loan guarantee, in finance, is a promise by one party (the guarantor) to assume the debt obligation of a borrower if that borrower defaults. A guarantee can be limited or unlimited, making the guarantor liable for only a portion or all of the d ...
s to the Mexican government through the
Exchange Stabilization Fund The Exchange Stabilization Fund (ESF) is an emergency reserve fund of the United States Treasury Department, normally used for foreign exchange intervention. This arrangement (as opposed to having the central bank intervene directly) allows the US ...
. Mexico recovered and the U.S. Treasury made a $580 million profit as a result of the loan agreement. In 1997 and 1998, Rubin, Greenspan, and Deputy Treasury Secretary Summers worked with the International Monetary Fund and others to promote U.S. policy in response to financial crises in Russian, Asian, and Latin American financial markets. On the cover of its February 15, 1999 edition, ''
Time Magazine ''Time'' (stylized in all caps) is an American news magazine based in New York City. For nearly a century, it was published Weekly newspaper, weekly, but starting in March 2020 it transitioned to every other week. It was first published in New ...
'' dubbed the three policymakers "The Committee to Save the World".


Balanced budget agreement

Early in the Clinton administration, Rubin touted a balanced budget and a strong dollar as a way for the Fed to lower interest rates. He also argued that a balanced federal budget's broad benefits to society outweighed concerns that one group could benefit more than others. Rubin was the Clinton administration's chief negotiator with a Republican-controlled Congress on the balanced-budget deal. The
Balanced Budget Act of 1997 The Balanced Budget Act of 1997 () was an omnibus legislative package enacted by the United States Congress, using the budget reconciliation process, and designed to balance the federal budget by 2002. This act was enacted during Bill Clinton's ...
has been referred to as the "capstone" of Rubin's tenure as Treasury secretary.


Regulation of derivatives

In 1998, Rubin and
Federal Reserve The Federal Reserve System (often shortened to the Federal Reserve, or simply the Fed) is the central banking system of the United States of America. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after ...
chairman Alan Greenspan opposed giving the
Commodity Futures Trading Commission The Commodity Futures Trading Commission (CFTC) is an independent agency of the US government created in 1974 that regulates the U.S. derivatives markets, which includes futures, swaps, and certain kinds of options. The Commodity Exchange Ac ...
(CFTC) oversight of over-the-counter credit derivatives when this was proposed by
Brooksley Born Brooksley Elizabeth BornCalifornia Births, 1905 - 1995Brooksley Elizabeth Born/ref> (born August 27, 1940) is an American Lawyer, attorney and former public official who, from August 26, 1996, to June 1, 1999, was chair of the Commodity Futures T ...
, then head of the CFTC. Rubin and other senior officials recommended Congress relieve the CFTC of regulatory authority over derivatives in November 1999. Over-the-counter credit derivatives were eventually excluded from regulation by the CFTC by the
Commodity Futures Modernization Act of 2000 The Commodity Futures Modernization Act of 2000 (CFMA) is United States federal legislation that ensured financial products known as over-the-counter (OTC) derivatives remained unregulated. It was signed into law on December 21, 2000 by President ...
. According to a
PBS The Public Broadcasting Service (PBS) is an American public broadcaster and non-commercial, free-to-air television network based in Arlington, Virginia. PBS is a publicly funded nonprofit organization and the most prominent provider of educati ...
''
Frontline Front line refers to the forward-most forces on a battlefield. Front line, front lines or variants may also refer to: Books and publications * ''Front Lines'' (novel), young adult historical novel by American author Michael Grant * ''Frontlines ...
'' report, derivatives played a key role in the
financial crisis of 2007–2008 Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of fi ...
. Arthur Levitt Jr., a former chairman of the Securities and Exchange Commission, has said in explaining Rubin's strong opposition to the regulations proposed by Born that Greenspan and Rubin were "joined at the hip on this. They were certainly very fiercely opposed to this and persuaded me that this would cause chaos."Goodman, Peter S. (October 8, 2008)
"Taking Hard New Look at a Greenspan Legacy"
''The New York Times''.
However, in Rubin's autobiography, he notes that he believed derivatives could pose significant problems and that many people who used derivatives did not fully understand the risks they were taking. In 2008, ''The New York Times'' reported that the proposal in 1997 would not have improved oversight of derivatives. Rubin said the financial system "could benefit from better regulation of derivatives". However, "the politics would have made this impossible," he said. Rubin said he had been concerned about derivatives' potential to create systemic risk since his time at Goldman Sachs. In an interview on ''ABCs '' This Week'' program in April 2010, former President Clinton said Rubin was wrong in the advice he gave him not to regulate derivatives, which was by then seen as one of the underlying causes of the 2007–08 financial crisis. Clinton adviser Doug Band later said Clinton "inadvertently conflated an analysis he received on a specific derivatives proposal with then-Federal Reserve Chairman Alan Greenspan's arguments against any regulation of derivatives". He said Clinton still wished he had pursued legislation to regulate derivatives while confirming that he still believed he had received excellent advice on the economy and the financial system from Rubin and others during his presidency.


Urban policy

Rubin was a leading advocate for investment in distressed rural and urban communities in the Clinton administration, from his time with the NEC, leading the effort to expand the
Community Reinvestment Act The Community Reinvestment Act (CRA, P.L. 95-128, 91 Stat. 1147, title VIII of the Housing and Community Development Act of 1977, ''et seq.'') is a United States federal law designed to encourage commercial banks and savings associations to hel ...
, to his time at Treasury, where he advocated for more
community development financial institution A community development financial institution (US) or community development finance institution (UK) - abbreviated in both cases to CDFI - is a financial institution that provides credit and financial services to underserved markets and populations, ...
s (CDFI) to invest in inner cities and increase the CDFI Fund. Addressing the needs of the urban poor was a top priority for Rubin during his tenure in the Clinton administration. Rubin also assisted with the Clinton administration's plan to increase empowerment and enterprise zones across the U.S. The initiative offered tax breaks for businesses investing in those zones.


The Decline of the Glass-Steagall Act

As Treasury Secretary, Robert Rubin was on the record for stating that the Glass-Steagall Act was obsolete and outdated, and indeed its provisions had become less effective over time. However, it was not until the late 1990s that the Congress and the Clinton administration finally came round to repealling the act. This resulted in part from lobbying pressure exercized by Sanford I. Weill on Congress and the White House to repeal the Act, and so allow the mega-merger he had organized between Travelers Group and Citicorp in 1998 to stand. Rubin resigned from the Clinton administration in July 1999. In October 1999, Rubin joined the leadership at Citigroup. Glass–Steagall was eventually repealed by the Gramm–Leach–Bliley Act under Rubin's successor, Lawrence Summers, and was signed by Clinton in November 1999.


Post-government career


Local Initiatives Support Corporation

Upon leaving the Clinton administration, Rubin joined the board of the
Local Initiatives Support Corporation The Local Initiatives Support Corporation (LISC) is a US non-profit community development financial institution (CDFI) that supports community development initiatives across the country. It has offices in nearly 40 cities and works across 2,100 r ...
(LISC), the nation's leading community development support organization, as chairman. Reflecting on his decision to join an institution devoted to bringing economic activity to neglected areas of the country, the '' Chicago Tribune'' said the following in an editorial: "Even before he became Bill Clinton's treasury secretary, during his days as a high-powered Wall Street executive, Rubin was passionate about fostering business investment as the way to fight poverty in depressed city and rural areas. That made him somewhat unusual among Democrats, who generally emphasized government anti-poverty programs."


Citigroup

Rubin joined
Citigroup Citigroup Inc. or Citi ( stylized as citi) is an American multinational investment bank and financial services corporation headquartered in New York City. The company was formed by the merger of banking giant Citicorp and financial conglomera ...
in 1999 as chairman of the executive committee of the board. In 2001, Enron, a major client of Citigroup, faced a credit ratings downgrade as a result of the Enron scandal. Rubin called a ranking Treasury Department official, unsuccessfully seeking the Bush Administration's help in forestalling the downgrade. A subsequent staff investigation by the
Senate Governmental Affairs committee The United States Senate Committee on Homeland Security and Governmental Affairs is the chief oversight committee of the United States Senate. It has jurisdiction over matters related to the Department of Homeland Security and other homeland s ...
cleared Rubin of having done anything illegal. Rubin later maintained that he had acted both as a Citigroup executive protecting his company's position and as a former Treasury official concerned about the impact that Enron's failure might have on the larger economy. Rubin rejected criticisms of a possible conflict of interest and has said that if faced with the same choice, he would do it again. Rubin briefly became chairman of Citigroup's board of directors from November 2007 to December 2007. According to ''The New York Times'', Rubin's role at Citigroup focused on meeting with clients and government and business leaders, bringing in business, and serving as a sounding board to bank leadership. As the ''Times'' reported in 2007, Rubin "has said publicly since he came to Citigroup in 1999 that he had no interest in running the bank". ''The Wall Street Journal'' reported Rubin joined Citigroup as a board member and as a participant "in strategic managerial and operational matters of the Company, but ..no line responsibilities". The newspaper called this mix of oversight and management responsibilities "murky". Following the 2008 financial crisis, critics argued Rubin increased risk-taking at Citigroup, thereby exposing the bank to greater losses, and that economic policies he promoted as Treasury secretary exacerbated the situation. According to ''The Wall Street Journal'', Rubin has stated that "he wasn't alone in failing to foresee the severity of the crisis that would emerge". Other industry observers criticized the lack of clarity about Rubin's role within the bank. The federal government spent $45 billion to acquire a stake in Citigroup in 2008 through the Troubled Asset Relief Program. Citigroup repaid $20 billion of the
bailout A bailout is the provision of financial help to a corporation or country which otherwise would be on the brink of bankruptcy. A bailout differs from the term ''bail-in'' (coined in 2010) under which the bondholders or depositors of global syst ...
money in December 2009 and the Treasury sold its remaining stake one year later, for a total net profit of $12 billion. In December 2008, investors filed a lawsuit contending that Citigroup executives, including Rubin, sold shares at inflated prices while concealing the firm's risks. Citigroup settled the lawsuit in 2012, paying $590 million to claimants and denying any wrongdoing as part of the settlement. Rubin resigned from Citigroup in 2009. Between 1999 and 2009, Rubin received total compensation, including employee stock options, of $126 million from Citigroup."Rethinking Bob Rubin From Goldman Sachs Star to Crisis Scapegoat"
Bloomberg News
His compensation was criticized, with writer Nassim Nicholas Taleb noting that Rubin "collected more than $120 million in compensation from Citibank in the decade preceding the banking crash of 2008. When the bank, literally insolvent, was rescued by the taxpayer, he didn't write any check—he invoked uncertainty as an excuse." In 2010, the
Financial Crisis Inquiry Commission The Financial Crisis Inquiry Commission (FCIC) was a ten-member commission appointed by the leaders of the United States Congress with the goal of investigating the causes of the financial crisis of 2007–2008. The Commission has been nicknamed ...
interviewed Rubin as part of their investigation into the causes of the
financial crisis of 2007–2008 Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of fi ...
and concluded that Rubin "may have violated the laws of the United States in relation to the financial crisis" related to his role at Citigroup. The commission unanimously voted to refer him to the
United States Department of Justice The United States Department of Justice (DOJ), also known as the Justice Department, is a federal executive department of the United States government tasked with the enforcement of federal law and administration of justice in the United State ...
for further investigation; however, the DOJ did not pursue any further investigation or actions against Rubin.


Other work

In 2001, Rubin received an honorary doctoral degree from Harvard University, and on July 1, 2002, he became a member of
Harvard Corporation The President and Fellows of Harvard College (also called the Harvard Corporation or just the Corporation) is the smaller and more powerful of Harvard University's two governing boards, and is now the oldest corporation in America. Together with ...
, the executive governing board of Harvard University. He served as a member of the Harvard Corporation board until June 2014 and continues to serve on its finance committee. Rubin has written a memoir, ''In an Uncertain World: Tough Choices from Wall Street to Washington'' (), co-written by
Jacob Weisberg Jacob Weisberg (born 1964) is an American political journalist, who served as editor-in-chief of The Slate Group, a division of Graham Holdings Company. In September 2018, he left Slate to co-found Pushkin Industries, an audio content company, ...
. It was a ''New York Times'' bestseller as well as one of ''
Business Week ''Bloomberg Businessweek'', previously known as ''BusinessWeek'', is an American weekly business magazine published fifty times a year. Since 2009, the magazine is owned by New York City-based Bloomberg L.P. The magazine debuted in New York City ...
''s ten best business books of 2003. Rubin had been suggested as a possible appointee to a cabinet post for President
Barack Obama Barack Hussein Obama II ( ; born August 4, 1961) is an American politician who served as the 44th president of the United States from 2009 to 2017. A member of the Democratic Party, Obama was the first African-American president of the U ...
. Rubin, alongside
Austan Goolsbee Austan Dean Goolsbee (born August 18, 1969) is an American economist and writer. He is the Robert P. Gwinn Professor of Economics at the University of Chicago's Booth School of Business.
and
Paul Volcker Paul Adolph Volcker Jr. (September 5, 1927 – December 8, 2019) was an American economist who served as the 12th chairman of the Federal Reserve from 1979 to 1987. During his tenure as chairman, Volcker was widely credited with having ended th ...
, was one of Obama's economic advisers. In January 2014, Secretary Rubin joined former Senator Olympia Snowe, former Education Secretary Donna Shalala, former Secretary of State George Shultz, former Housing and Urban Affairs Secretary Henry Cisneros, Gregory Page the Chair of Cargill, and Al Sommer, the Dean Emeritus of the Bloomberg School of Public Health as members of the U.S. Climate Risk Committee. They oversaw the development of an analysis of the economic risks of
climate change in the United States Climate change in the United States has led to the country warming by 2.6°F (1.4°C) since 1970. Due to climate change, the climate of the United States is shifting in ways that are widespread and varied between regions. From 2010 to 2019, the ...
that was published on June 24, 2014. In an address at the Climate Leadership Conference on March 4, 2015, Mr. Rubin spoke about the economic effects of climate change and the costs of inaction. Calling climate change "the existential threat of our age," he called for the adoption of three proposals – revising estimates of the Gross Domestic Product to reflect climate change externalities, disclosure to investors by companies of the costs of carbon they emit that they might be required to absorb, and including in the U.S. government's fiscal projections the future costs of dealing with climate change – to help catalyze a more active response to climate change risks. He first outlined the proposals in a Washington Post op-ed column titled "How Ignoring Climate Change Could Sink the U.S. Economy." In April 2016, he was one of eight former Treasury secretaries who called on the United Kingdom to remain a member of the European Union ahead of the June 2016 Referendum. As of 2020, Rubin is actively engaged as a founder of The Hamilton Project, an economic policy think tank that produces research and proposals on how to create a growing economy that benefits more
Americans Americans are the citizens and nationals of the United States of America.; ; Although direct citizens and nationals make up the majority of Americans, many dual citizens, expatriates, and permanent residents could also legally claim Ameri ...
. He is co-chairman emeritus of the
Council on Foreign Relations The Council on Foreign Relations (CFR) is an American think tank specializing in U.S. foreign policy and international relations. Founded in 1921, it is a nonprofit organization that is independent and nonpartisan. CFR is based in New York City ...
. Rubin also serves as chairman of the board of the
Local Initiatives Support Corporation The Local Initiatives Support Corporation (LISC) is a US non-profit community development financial institution (CDFI) that supports community development initiatives across the country. It has offices in nearly 40 cities and works across 2,100 r ...
, a community development support organization. He serves as a trustee of Mount Sinai Health System. Additionally, Rubin serves as a senior counselor at
Centerview Partners Centerview Partners is an American independent investment banking firm. Centerview operates primarily as an investment banking advisory firm. Centerview has 60 partners and 300 professionals with expertise across a wide range of industries, ge ...
, an investment banking advisory firm based in New York City. And he has been member of the advisory board of the
Peter G. Peterson Foundation The Peter G. Peterson Foundation is an American foundation established in 2008 by Peter G. Peterson, former US Secretary of Commerce in the Nixon Administration and co-founder of the Blackstone Group, an American financial-services company. ...
.


Personal life

Rubin and his wife, Judith O. Rubin, have two grown sons together, James Rubin (not to be confused with the former diplomat and journalist James Rubin who served under President Clinton), and Philip Rubin. The Rubins were long time members of Temple Beth Sholom on Miami Beach.


See also

* Rubinomics * Bob Rubin Trade


References


Sources


The White House - Office of the Press Secretary


Further reading

* Clinton, Bill (2005). ''
My Life My Life may refer to: Autobiographies * ''Mein Leben'' (Wagner) (''My Life''), by Richard Wagner, 1870 * ''My Life'' (Clinton autobiography), by Bill Clinton, 2004 * ''My Life'' (Meir autobiography), by Golda Meir, 1973 * ''My Life'' (Mosley a ...
''. Vintage. . *Rubin, Robert (2003). In An Uncertain World. Random House.


External links


Profile
at
Council on Foreign Relations The Council on Foreign Relations (CFR) is an American think tank specializing in U.S. foreign policy and international relations. Founded in 1921, it is a nonprofit organization that is independent and nonpartisan. CFR is based in New York City ...
* * * * * , - , - , - , - {{DEFAULTSORT:Rubin, Robert Chairs of the Council on Foreign Relations 1938 births 20th-century American politicians Alumni of the London School of Economics Jewish American bankers American chief executives American chief operating officers Businesspeople from New York City Chairmen of Goldman Sachs Citigroup people Clinton administration cabinet members Harvard Law School alumni Harvard College alumni Living people Jewish American members of the Cabinet of the United States Presidential Citizens Medal recipients United States Secretaries of the Treasury Yale Law School alumni People associated with Cleary Gottlieb Steen & Hamilton Politicians from New York City