At a gathering at the Museum of American Finance, Carlyle Group founder, David Rubinstein, accepted the John Whitehead Award, which is named after the co-chairman of Goldman Sachs who served as deputy secretary of State. In a conversation with former Treasury secretary Rob Rubin, as reported by Bloomberg, the two discussed how unfortunate it was that Antonio Weiss’ Wall Street credentials worked against him in his nomination as undersecretary of the Treasury. Weiss, who received opposition from Bernie Sanders and Elizabeth Warren, withdrew his nomination, and will serve instead as adviser to Secretary Jack Lew.
Rubin and Rubinstein agreed that a career on Wall Street is a good qualification for a government position, as Rubin was employed at Goldman Sachs before joining President Clinton’s cabinet. “I hope people won’t get discouraged, ” Rubinstein said, referring to the opposition against Weiss, “I hope people have enough wisdom to see they deserve these positions.”
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The Museum of American Finance has 50, 000 visitors each year and serves as a teaching aid for young people and adults alike in financial concepts. Former Treasury Secretary Lawrence Summers will give a”fireside chat” on bitcoin on February 11. Historical documents are on display as well as a bronze statue of Alexander Hamilton in the midst of the famous duel. During his acceptance speech, Rubenstein read from Alexander Hamilton, “I certainly made my share of mistakes in life. One of them was obviously agreeing to a duel by someone I could not stand.” Then Rubenstein quipped, “In those days, it was harder to get back at someone by just shorting their stock or engaging in a proxy fight.”