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Clinton Cabinet / Rubin Resignation #186116

ABC Evening News for Wednesday, May 12, 1999
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(Studio: Peter Jennings) Report introduced.

(White House: Sam Donaldson) The announcement of the resignation of Treasury Secretary Robert Rubin featured; details given of Rubin's role in the administration's economic policies. [President CLINTON - praises Rubin.] [RUBIN - comments.] [Merrill Lynch Bruce STEINBERG - says the economy is booming on its own.] The question of whether Federal Reserve Board chairman Alan Greenspan will re-up for another term noted.

(Studio: Peter Jennings) Interview held with Rubin. [RUBIN - talks about the weak global economy and the need to focus on world economic growth; judges that the economy will continue in a period of solid growth, but we cannot be complacent.]

(New York: Betsy Stark) Lawrence Summers, who will succeed Rubin as Treasury Secretary, profiled. [Brookings Institution Robert LITAN - cites Summers' qualifications.] His role in the 1994 bailout of the Mexico economy and his later work with the economies of Asia and Brazil outlined. [Council on Foreign Relations Walter Russell MEAD - speculates on the relationship between the stock market and Summers.]

Donaldson, Sam;
Jennings, Peter;
Stark, Betsy

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