Thursday, April 01, 2004

Reading Rubin

My pick for in-flight reading in my trip to DC and CO was Robert Rubin's memoar, "In an Uncertain World". I haven't finished it, but it sure is a really entertaining reading. Chapter One was about the Mexican 1995 crises and how the White House, Fed, and Treasury handled the fiasco. How the "three marketers": Alan Greenspan, Robert Rubin, and Larry Summers struggled to convince the Congress and the American public to disburse a $25 billion rescue package to Mexico. Thrilling and dramatical! The book tells the story of how many leading figures in the American politics (D'Amato, Gingrich, Bush, etc) responded to Rubin's proposal. The chapter also pictured how cool Bill Clinton reacted and how he was willing to risk his career by endorsing the most "unpopular, risky decision" offered by Greenspan-Rubin-Summers trio to deal with the "first crisis in the new millenium". I can see why Krugman who hates so many people loves Rubin. Great book -- so far.

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