Treasury Sec. Rubin to give Commencement speech

Rubin has served in President Clinton's cabinet for the last four years. He will receive an honorary degree after his address. U.S. Treasury Secretary Robert Rubin will address graduates of the University's 12 schools during Penn's 243rd Commencement exercises, University officials announced yesterday. Rubin -- who was sworn in as the 70th Treasury secretary on January 10, 1995 -- serves as the United States' chief financial officer, overseeing domestic and international financial, economic and tax policy. Following his Commencement speech on May 17 at Franklin Field, Rubin, 60, will receive an honorary Doctor of Laws degree. University President Judith Rodin said the University is honored to have Rubin speak at Commencement. "Secretary Rubin has been one of the most active and productive Treasury secretaries in our country's history," Rodin said. She added that Rubin "has redefined the role of the [Secretary of the Treasury] post, effectively blending economics and diplomacy to effect change in world markets." Before becoming Secretary of the Treasury in 1995, Rubin served in the White House as the assistant to the president for economic policy between 1993 and 1995. In this role he directed the National Economic Council, which oversees domestic and international policymaking processes. Prior to joining the Clinton administration, Rubin spent 26 years at Goldman Sachs and Co. in New York City. He served as co-senior partner and co-chairperson of that firm from 1990 to 1992. Rubin's past activities have also included membership on numerous economic boards and committees, including the Board of Directors for the New York Stock Exchange and the President's Advisory Committee for Trade Negotiations. Rubin received a bachelor's degree and graduated summa cum laude form Harvard University in 1960, a law degree from Yale Law School in 1964 and attended the London School of Economics. Finance Professor Jeremy Siegel said that Rubin was an "excellent choice" for speaker. "He's in the middle of what's going on in the rest of the world," noted Siegel, adding that "he's very prestigious." This is the second year that the University has obtained a prominent political speaker for Commencement, following last year's address by former President Jimmy Carter. Senior Class President Sarah Gleit -- a member of the advisory committee that conducts the search for a speaker -- said she was thrilled to have an "accomplished, exemplary figure" speaking at this year's Commencement. "We expect he'll be inspiring," the College senior said, adding that Rubin is a "leader in the financial world and the political world." Fellow committee member and United Minorities Council Chairperson Chaz Howard agreed that Rubin would be a good speaker but noted that the financial expert might not be a top choice of many students. "I think it would have been nice to have someone who could appeal to everyone," the College junior said. But he added, "I'm sure the speech will be applicable [to all the students]." Commencement speakers in previous years have included figures from a broad range of occupations, spanning the political spectrum and the entertainment industry. Bill Cosby spoke at Commencement in 1997, broadcast journalist Tom Brokaw gave the address in 1996 and former National Endowment for the Arts Chairperson Jane Alexander appeared in 1995.

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