Undersecretary of the Treasury Robert Glauber, an...
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Undersecretary of the Treasury Robert Glauber, an architect of the savings and loan bailout, is returning to a position at Harvard University, the Treasury Department said.
Glauber, 52, who will leave the government Friday, was instrumental in writing the savings and loan bailout legislation enacted by Congress in August, 1989.
He also was a major player in drafting sweeping bank reform legislation proposed by the Bush Administration, and he had a significant role in developing reforms of the Treasury auction process after Solomon Bros. admitted violating auction rules.
Congress decided to enact a limited bank reform bill that covered several regulatory oversight issues and refinanced the dwindling deposit insurance fund for banks.
Before joining Treasury in May, 1989, Glauber was chairman of the advanced management program at Harvard and a member of its finance faculty.
Glauber also headed a presidential task force that studied the 1987 stock market crash. The group recommended changes to prevent a recurrence, then help implement the reforms.
“Bob Glauber has been an invaluable asset to the Treasury team,” Secretary Nicholas F. Brady said.
No replacement has been announced.
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