Keller @ Large: Do Paulson And Rubin Realize They Failed?

June 20, 2012 12:00 AM
Keller @ Large: Do Paulson And Rubin Realize They Failed?
" BOSTON (CBS) – The biotechnology industry is having its big annual convention this week here in town, and they always try to bring in some big-name celebrities for their keynote event.

Listen to Jon’s commentary:

Download: kelleratlargejune202012.mp3 //

But I guess Beyonce and the “good-job, good effort” kid from Miami weren’t available, because yesterday’s headliners were two former Secretaries of the U.S. Treasury, Henry Paulson and Robert Rubin.

There was a bit of a flap at the event when only trade press were allowed to cover the Paulson/Rubin show, while other reporters were barred.

“We want to ensure that our presenters are comfortable speaking openly,” said a convention flack, which is unintentionally amusing, because both men will go down in history as among the most notorious dissemblers of our time.

Rubin is the genius who made sure then-President Clinton prevented federal regulators from gaining authority of a new type of financial instrument called credit derivatives, the abuse of which wound up being a key factor in the 2008 collapse of our economy "

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