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News
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Rubin offered board seat: Lay
Offer made two days after Treasury secretary said he would step down.
February 21, 2002: 9:52 a.m. ET
graphic NEW YORK (CNN/Money) - Former Enron Chairman Kenneth Lay offered Robert Rubin a seat on Enron's Board while Rubin was still Treasury Secretary during the Clinton Adminstration, CNNfn has confirmed.

The offer was made through a letter Lay sent to  Rubin on May 14, 1999, two days after Rubin announced his intentions to step down from his government post.

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The letter extolled the Treasury secretary's service, saying "You have done an outstanding job not only for your country but for the world.  Your steady hand will be missed." He went on to praise  Lawrence Summers, who had been named Rubin's successor.

He then wrote: "One additional point. If you are considering joining any corporate boards, I would like very much to talk to you. Given the way Enron has evolved, not only do we badly need a person with your experience and insights but also I think you would find serving on our board intellectually and otherwise interesting. I have placed a call to you in the hope that I might mention this to you personally."

Rubin did not accept the offer and instead went to work for the financial services company Citigroup. graphic




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