Hubbard, RG

<h1 class="title-blog"></h1><div>https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)</div><div>
</div><div><div id="mw-content-text" lang="en" dir="ltr" class="mw-content-ltr" style="direction: ltr; background-color: rgb(255, 255, 255);">Robert Glenn Hubbard (born September 4, 1958) is an <a href="https://en.wikipedia.org/wiki/United_States" title="United States" style="text-decoration: none; background: none;">American</a> <a href="https://en.wikipedia.org/wiki/Economist" title="Economist" style="text-decoration: none; background: none;">economist</a> and academic. He is currently the Dean of the <a href="https://en.wikipedia.org/wiki/Columbia_University" title="Columbia University" style="text-decoration: none; background: none;">Columbia University</a> <a href="https://en.wikipedia.org/wiki/Columbia_Business_School" title="Columbia Business School" style="text-decoration: none; background: none;">Graduate School of Business</a>, where he is also <a href="https://en.wikipedia.org/wiki/Russell_Carson" title="Russell Carson" style="text-decoration: none; background: none;">Russell L. Carson</a> Professor of <a href="https://en.wikipedia.org/wiki/Finance" title="Finance" style="text-decoration: none; background: none;">Finance</a> and <a href="https://en.wikipedia.org/wiki/Economics" title="Economics" style="text-decoration: none; background: none;">Economics</a>.<a href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#cite_note-Glater2004-2" style="text-decoration: none; background: none;">[2]</a> Hubbard previously served as Deputy Assistant Secretary at the <a href="https://en.wikipedia.org/wiki/U.S.Department_of_the_Treasury" class="mw-redirect" title="U.S. Department of the Treasury" style="text-decoration: none; background: none;">U.S. Department of the Treasury</a> from 1991 to 1993, and as <a href="https://en.wikipedia.org/wiki/Chair(official)" class="mw-redirect" title="Chair (official)" style="text-decoration: none; background: none;">Chairman</a> of the <a href="https://en.wikipedia.org/wiki/Council_of_Economic_Advisors" class="mw-redirect" title="Council of Economic Advisors" style="text-decoration: none; background: none;">Council of Economic Advisors</a> from 2001 to 2003.Hubbard is a Visiting Scholar at the <a href="https://en.wikipedia.org/wiki/Conservatism_in_the_United_States" title="Conservatism in the United States" style="text-decoration: none; background: none;">conservative</a> <a href="https://en.wikipedia.org/wiki/American_Enterprise_Institute" title="American Enterprise Institute" style="text-decoration: none; background: none;">American Enterprise Institute</a>, where he studies <a href="https://en.wikipedia.org/wiki/Tax_policy" title="Tax policy" style="text-decoration: none; background: none;">tax policy</a> and <a href="https://en.wikipedia.org/wiki/Health_care" title="Health care" style="text-decoration: none; background: none;">health care</a>.<a href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#cite_note-AEI-3" style="text-decoration: none; background: none;">[3]</a><div id="toc" class="toc" style="border: 1px solid rgb(162, 169, 177); background-color: rgb(248, 249, 250); padding: 7px; display: table; zoom: 1;"><div id="toctitle" style="direction: ltr; text-align: center;"><h2 style="background: none; margin: 1em 0px 0.25em; overflow: hidden; padding: 0px; border: none; display: inline; line-height: 1.3;">Contents</h2>  [<a role="button" tabindex="0" id="togglelink" style="background: none; cursor: pointer;">hide</a>] </div><ul style="list-style-type: none; margin: 0.3em 0px; padding: 0px; list-style-image: none;"><li class="toclevel-1 tocsection-1" style="margin-bottom: 0.1em;"><a href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#Early_life" style="text-decoration: none; background: none;">1Early life</a></li><li class="toclevel-1 tocsection-2" style="margin-bottom: 0.1em;"><a href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#Career" style="text-decoration: none; background: none;">2Career</a><ul style="list-style-type: none; margin: 0px 0px 0px 2em; padding: 0px; list-style-image: none;"><li class="toclevel-2 tocsection-3" style="margin-bottom: 0.1em;"><a href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#Academic" style="text-decoration: none; background: none;">2.1Academic</a></li><li class="toclevel-2 tocsection-4" style="margin-bottom: 0.1em;"><a href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#Government" style="text-decoration: none; background: none;">2.2Government</a></li><li class="toclevel-2 tocsection-5" style="margin-bottom: 0.1em;"><a href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#Political_advisor" style="text-decoration: none; background: none;">2.3Political advisor</a></li><li class="toclevel-2 tocsection-6" style="margin-bottom: 0.1em;"><a href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#Other" style="text-decoration: none; background: none;">2.4Other</a></li><li class="toclevel-2 tocsection-7" style="margin-bottom: 0.1em;"><a href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#Inside_Job_interview_and_aftermath" style="text-decoration: none; background: none;">2.5Inside Job interview and aftermath</a></li></ul></li><li class="toclevel-1 tocsection-8" style="margin-bottom: 0.1em;"><a href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#Columbia_Business_School.28CBS.29_Follies" style="text-decoration: none; background: none;">3Columbia Business School (CBS) Follies</a></li><li class="toclevel-1 tocsection-9" style="margin-bottom: 0.1em;"><a href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#References" style="text-decoration: none; background: none;">4References</a></li><li class="toclevel-1 tocsection-10" style="margin-bottom: 0.1em;"><a href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#External_links" style="text-decoration: none; background: none;">5External links</a></li></ul></div><h2 style="background: none; font-weight: normal; margin: 1em 0px 0.25em; overflow: hidden; padding: 0px; border-bottom: 1px solid rgb(170, 170, 170); line-height: 1.3;">Early life[<a href="https://en.wikipedia.org/w/index.php?title=Glenn_Hubbard(economist)&action=edit&section=1&editintro=Template:BLP_editintro" title="Edit section: Early life" style="text-decoration: none; background: none;">edit</a>]</h2>Born September 4, 1958, Hubbard was raised in <a href="https://en.wikipedia.org/wiki/Apopka,Florida" title="Apopka, Florida" style="text-decoration: none; background: none;">Apopka, Florida</a>, a suburb of <a href="https://en.wikipedia.org/wiki/Orlando,Florida" title="Orlando, Florida" style="text-decoration: none; background: none;">Orlando, Florida</a>. His father taught at a local community college and his mother taught at a high school. Hubbard's younger brother, Gregg, is a member of the country-pop band <a href="https://en.wikipedia.org/wiki/Sawyer_Brown" title="Sawyer Brown" style="text-decoration: none; background: none;">Sawyer Brown</a>.<a href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#cite_note-Segal-4" style="text-decoration: none; background: none;">[4]</a>Hubbard is an Eagle Scout. A member of the chess team, he was a stellar student who graduated at the top of his class. He scored well enough on his College Level Examination Program to enter the <a href="https://en.wikipedia.org/wiki/University_of_Central_Florida" title="University of Central Florida" style="text-decoration: none; background: none;">University of Central Florida</a> with enough credits to graduate with two degrees in three years. He obtained his <a href="https://en.wikipedia.org/wiki/Bachelor_of_Arts" title="Bachelor of Arts" style="text-decoration: none; background: none;">B.A.</a> and <a href="https://en.wikipedia.org/wiki/Bachelor_of_Science" title="Bachelor of Science" style="text-decoration: none; background: none;">B.S.</a> degrees <a href="https://en.wikipedia.org/wiki/Summa_cum_laude" class="mw-redirect" title="Summa cum laude" style="text-decoration: none; background: none;">summa cum laude</a> from the University of Central Florida in 1979, and his masters and <a href="https://en.wikipedia.org/wiki/Ph.D." class="mw-redirect" title="Ph.D." style="text-decoration: none; background: none;">Ph.D.</a> in economics from <a href="https://en.wikipedia.org/wiki/Harvard_University" title="Harvard University" style="text-decoration: none; background: none;">Harvard University</a> in 1983.<a href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#cite_note-Segal-4" style="text-decoration: none; background: none;">[4]</a><h2 style="background: none; font-weight: normal; margin: 1em 0px 0.25em; overflow: hidden; padding: 0px; border-bottom: 1px solid rgb(170, 170, 170); line-height: 1.3;">Career[<a href="https://en.wikipedia.org/w/index.php?title=Glenn_Hubbard(economist)&action=edit&section=2&editintro=Template:BLP_editintro" title="Edit section: Career" style="text-decoration: none; background: none;">edit</a>]</h2><h3 style="background: none; margin: 0.3em 0px 0px; overflow: hidden; padding-top: 0.5em; padding-bottom: 0px; border-bottom: none; line-height: 1.6;">Academic[<a href="https://en.wikipedia.org/w/index.php?title=Glenn_Hubbard(economist)&action=edit&section=3&editintro=Template:BLP_editintro" title="Edit section: Academic" style="text-decoration: none; background: none;">edit</a>]</h3>Hubbard has been at <a href="https://en.wikipedia.org/wiki/Columbia_University" title="Columbia University" style="text-decoration: none; background: none;">Columbia University</a> since 1988, being <a href="https://en.wikipedia.org/wiki/Russell_Carson" title="Russell Carson" style="text-decoration: none; background: none;">Russell L. Carson</a> Professor of Finance and Economics since 1994.<a href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#cite_note-metlife-5" style="text-decoration: none; background: none;">[5]</a>He was named <a href="https://en.wikipedia.org/wiki/Dean(education)" title="Dean (education)" style="text-decoration: none; background: none;">Dean</a> of <a href="https://en.wikipedia.org/wiki/Columbia_Business_School" title="Columbia Business School" style="text-decoration: none; background: none;">Columbia Business School</a> on July 1, 2004.<h3 style="background: none; margin: 0.3em 0px 0px; overflow: hidden; padding-top: 0.5em; padding-bottom: 0px; border-bottom: none; line-height: 1.6;">Government[<a href="https://en.wikipedia.org/w/index.php?title=Glenn_Hubbard(economist)&action=edit&section=4&editintro=Template:BLP_editintro" title="Edit section: Government" style="text-decoration: none; background: none;">edit</a>]</h3>Hubbard was Deputy Assistant Secretary at the U.S. Department of the Treasury from 1991 to 1993.<a href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#cite_note-AEI-3" style="text-decoration: none; background: none;">[3]</a>From February 2001 until March 2003, Hubbard was <a href="https://en.wikipedia.org/wiki/Chair(official)" class="mw-redirect" title="Chair (official)" style="text-decoration: none; background: none;">chairman</a> of the <a href="https://en.wikipedia.org/wiki/Council_of_Economic_Advisors" class="mw-redirect" title="Council of Economic Advisors" style="text-decoration: none; background: none;">Council of Economic Advisors</a> under <a href="https://en.wikipedia.org/wiki/Presidency_of_George_W.Bush" title="Presidency of George W. Bush" style="text-decoration: none; background: none;">President George W. Bush</a>. A <a href="https://en.wikipedia.org/wiki/Supply-side_economics" title="Supply-side economics" style="text-decoration: none; background: none;">supply-side economist</a>, he was instrumental in the design of the <a href="https://en.wikipedia.org/wiki/Jobs_and_Growth_Tax_Relief_Reconciliation_Act_of_2003" title="Jobs and Growth Tax Relief Reconciliation Act of 2003" style="text-decoration: none; background: none;">2003 Bush Tax cuts</a><a href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#cite_note-Andrews2005-6" style="text-decoration: none; background: none;">[6]</a>—an issue which split the economics profession on ideological lines, with those leaning left opposed and those leaning right supportive. See <a href="https://en.wikipedia.org/wiki/Economists%27_statement_opposing_the_Bush_tax_cuts" title="Economists' statement opposing the Bush tax cuts" style="text-decoration: none; background: none;">Economists' statement opposing the Bush tax cuts</a>.He was tipped by some media outlets to be a candidate for the position of <a href="https://en.wikipedia.org/wiki/Chairman_of_the_Federal_Reserve" class="mw-redirect" title="Chairman of the Federal Reserve" style="text-decoration: none; background: none;">Chairman of the Federal Reserve</a> when <a href="https://en.wikipedia.org/wiki/Alan_Greenspan" title="Alan Greenspan" style="text-decoration: none; background: none;">Alan Greenspan</a> retired, although he was not nominated for the position.<a href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#cite_note-Andrews2005-6" style="text-decoration: none; background: none;">[6]</a><h3 style="background: none; margin: 0.3em 0px 0px; overflow: hidden; padding-top: 0.5em; padding-bottom: 0px; border-bottom: none; line-height: 1.6;">Political advisor[<a href="https://en.wikipedia.org/w/index.php?title=Glenn_Hubbard(economist)&action=edit&section=5&editintro=Template:BLP_editintro" title="Edit section: Political advisor" style="text-decoration: none; background: none;">edit</a>]</h3>Hubbard served as economic advisor to the <a href="https://en.wikipedia.org/wiki/Mitt_Romney_presidential_campaign,2012" title="Mitt Romney presidential campaign, 2012" style="text-decoration: none; background: none;">2012 presidential campaign of Mitt Romney</a>,<a href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#cite_note-Politico-7" style="text-decoration: none; background: none;">[7]</a> a position he also held during <a href="https://en.wikipedia.org/wiki/Mitt_Romney_presidential_campaign,2008" title="Mitt Romney presidential campaign, 2008" style="text-decoration: none; background: none;">Romney's 2008 presidential campaign</a>.<a href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#cite_note-8" style="text-decoration: none; background: none;">[8]</a> In August 2012, <a href="https://en.wikipedia.org/wiki/Politico" title="Politico" style="text-decoration: none; background: none;">Politico</a> identified Hubbard as "a likely <a href="https://en.wikipedia.org/wiki/Mitt_Romney" title="Mitt Romney" style="text-decoration: none; background: none;">Romney</a> <a href="https://en.wiktionary.org/wiki/appointment" class="extiw" title="wikt:appointment" style="text-decoration: none; background: none;">appointee</a> as <a href="https://en.wikipedia.org/wiki/Federal_Reserve_chairman" class="mw-redirect" title="Federal Reserve chairman" style="text-decoration: none; background: none;">Federal Reserve chairman</a> or <a href="https://en.wikipedia.org/wiki/Treasury_secretary" class="mw-redirect" title="Treasury secretary" style="text-decoration: none; background: none;">Treasury secretary</a>".<a href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#cite_note-9" style="text-decoration: none; background: none;">[9]</a><h3 style="background: none; margin: 0.3em 0px 0px; overflow: hidden; padding-top: 0.5em; padding-bottom: 0px; border-bottom: none; line-height: 1.6;">Other[<a href="https://en.wikipedia.org/w/index.php?title=Glenn_Hubbard(economist)&action=edit&section=6&editintro=Template:BLP_editintro" title="Edit section: Other" style="text-decoration: none; background: none;">edit</a>]</h3>Hubbard serves as co-chair of the <a href="https://en.wikipedia.org/wiki/Committee_on_Capital_Markets_Regulation" title="Committee on Capital Markets Regulation" style="text-decoration: none; background: none;">Committee on Capital Markets Regulation</a>.<blockquote style="overflow: hidden; margin: 1em 0px; padding: 0px 40px;">Hubbard is a member of the Board of Directors of Automatic Data Processing, Inc., BlackRock Closed-End Funds, Capmark Financial Corporation, Duke Realty Corporation, <a href="https://en.wikipedia.org/wiki/KKR_Financial_Corporation" class="mw-redirect" title="KKR Financial Corporation" style="text-decoration: none; background: none;">KKR Financial Corporation</a> and Ripplewood Holdings. He is also a Director or Trustee of the Economic Club of New York, Tax Foundation, Resources for the Future, Manhattan Council and Fifth Avenue Presbyterian Church, New York, and a member of the Advisory Board of the National Center on Addiction and Substance Abuse... Director of MetLife and Metropolitan Life Insurance Company since February 2007.<a href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#cite_note-metlife-5" style="text-decoration: none; background: none;">[5]</a></blockquote>Hubbard is currently a board member of:<ul style="margin: 0.3em 0px 0px 1.6em; padding: 0px; list-style-image: url("data:image/svg+xml,%3C%3Fxml%20version%3D%221.0%22%20encoding%3D%22UTF-8%22%3F%3E%0A%3Csvg%20xmlns%3D%22http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%22%20version%3D%221.1%22%20width%3D%225%22%20height%3D%2213%22%3E%0A%3Ccircle%20cx%3D%222.5%22%20cy%3D%229.5%22%20r%3D%222.5%22%20fill%3D%22%2300528c%22%2F%3E%0A%3C%2Fsvg%3E%0A");"><li style="margin-bottom: 0.1em;"><a href="https://en.wikipedia.org/wiki/Automatic_Data_Processing" title="Automatic Data Processing" style="text-decoration: none; background: none;">Automatic Data Processing</a><a href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#cite_note-10" style="text-decoration: none; background: none;">[10]</a></li><li style="margin-bottom: 0.1em;"><a href="https://en.wikipedia.org/wiki/BlackRock" title="BlackRock" style="text-decoration: none; background: none;">BlackRock</a> Fin.<a href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#cite_note-11" style="text-decoration: none; background: none;">[11]</a></li><li style="margin-bottom: 0.1em;">Duke Realty<a href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#cite_note-12" style="text-decoration: none; background: none;">[12]</a></li><li style="margin-bottom: 0.1em;"><a href="https://en.wikipedia.org/wiki/KKR_Financial" class="mw-redirect" title="KKR Financial" style="text-decoration: none; background: none;">KKR Fin. Corp.</a></li><li style="margin-bottom: 0.1em;"><a href="https://en.wikipedia.org/wiki/Ripplewood_Holdings" title="Ripplewood Holdings" style="text-decoration: none; background: none;">Ripplewood Holdings</a></li><li style="margin-bottom: 0.1em;"><a href="https://en.wikipedia.org/wiki/MetLife" title="MetLife" style="text-decoration: none; background: none;">MetLife Inc</a>.<a href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#cite_note-metlife-5" style="text-decoration: none; background: none;">[5]</a></li><li style="margin-bottom: 0.1em;"><a href="https://en.wikipedia.org/wiki/FiscalNote" title="FiscalNote" style="text-decoration: none; background: none;">FiscalNote</a><a href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#cite_note-13" style="text-decoration: none; background: none;">[13]</a></li></ul><h3 style="background: none; margin: 0.3em 0px 0px; overflow: hidden; padding-top: 0.5em; padding-bottom: 0px; border-bottom: none; line-height: 1.6;">Inside Job interview and aftermath[<a href="https://en.wikipedia.org/w/index.php?title=Glenn_Hubbard(economist)&action=edit&section=7&editintro=Template:BLP_editintro" title="Edit section: Inside Job interview and aftermath" style="text-decoration: none; background: none;">edit</a>]</h3>Hubbard was interviewed in <a href="https://en.wikipedia.org/wiki/Charles_H.Ferguson" class="mw-redirect" title="Charles H. Ferguson" style="text-decoration: none; background: none;">Charles Ferguson's</a> Oscar-winning documentary film, <a href="https://en.wikipedia.org/wiki/Inside_Job(2010_film)" title="Inside Job (2010 film)" style="text-decoration: none; background: none;">Inside Job</a> (2010), discussing his advocacy, as chief economic advisor to the Bush Administration, of deregulation. Ferguson argues that deregulation led to the 2008 <a href="https://en.wikipedia.org/wiki/List_of_banks_acquired_or_bankrupted_during_the_2007%E2%80%932012_global_financial_crisis" class="mw-redirect" title="List of banks acquired or bankrupted during the 2007–2012 global financial crisis" style="text-decoration: none; background: none;">international banking crisis</a> sparked by the collapse of <a href="https://en.wikipedia.org/wiki/Lehman_Brothers" title="Lehman Brothers" style="text-decoration: none; background: none;">Lehman Brothers</a> and the sale of <a href="https://en.wikipedia.org/wiki/Merrill_Lynch" title="Merrill Lynch" style="text-decoration: none; background: none;">Merrill Lynch</a>. In the interview, Ferguson asks Hubbard to enumerate the firms from whom he receives outside income as an advisory board member in the context of possible <a href="https://en.wikipedia.org/wiki/Conflict_of_interest" title="Conflict of interest" style="text-decoration: none; background: none;">conflict of interest</a>. Hubbard, hitherto cooperative, declines to answer and threatens to end the interview with the remark, "You have three more minutes; give it your best shot."<a href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#cite_note-14" style="text-decoration: none; background: none;">[14]</a> After the release of the film, Columbia ramped up ongoing efforts to strengthen and clarify their conflict of interest disclosure requirements.<a href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#cite_note-spectator-15" style="text-decoration: none; background: none;">[15]</a>(Columbia Business School professor Michael Feiner, a member of the faculty committee of Columbia's Sanford C. Bernstein and Co. Center for Leadership and Ethics, has recommended that the film be shown to all business school students.<a href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#cite_note-spectator-15" style="text-decoration: none; background: none;">[15]</a>) One of Hubbard's consulting contracts was examined in a deposition in 2012. His work for <a href="https://en.wikipedia.org/wiki/Countrywide_Financial" class="mw-redirect" title="Countrywide Financial" style="text-decoration: none; background: none;">Countrywide Financial</a> for $1200/hr, attesting that the lender's loans were no worse than a <a href="https://en.wikipedia.org/wiki/Control_group" class="mw-redirect" title="Control group" style="text-decoration: none; background: none;">control group</a> of mortgages and not fraudulent, was examined by an attorney for <a href="https://en.wikipedia.org/wiki/MBIA" title="MBIA" style="text-decoration: none; background: none;">MBIA</a>. MBIA was suing Countrywide over its mortgage practices.<a href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#cite_note-16" style="text-decoration: none; background: none;">[16]</a><h2 style="background: none; font-weight: normal; margin: 1em 0px 0.25em; overflow: hidden; padding: 0px; border-bottom: 1px solid rgb(170, 170, 170); line-height: 1.3;">Columbia Business School (CBS) Follies[<a href="https://en.wikipedia.org/w/index.php?title=Glenn_Hubbard(economist)&action=edit&section=8&editintro=Template:BLP_editintro" title="Edit section: Columbia Business School (CBS) Follies" style="text-decoration: none; background: none;">edit</a>]</h2>Hubbard is also frequently featured in skits by Columbia Business School's "Follies" group, ranging from videos of him monitoring students on classroom video cameras<a href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#cite_note-17" style="text-decoration: none; background: none;">[17]</a> to songs about his relationship with Presidential candidate Mitt Romney.<a href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#cite_note-18" style="text-decoration: none; background: none;">[18]</a> Hubbard has also publicized his dissatisfaction with <a href="https://en.wikipedia.org/wiki/Ben_Bernanke" title="Ben Bernanke" style="text-decoration: none; background: none;">Ben Bernanke</a>'s nomination as <a href="https://en.wikipedia.org/wiki/Chair_of_the_Federal_Reserve" title="Chair of the Federal Reserve" style="text-decoration: none; background: none;">Chair of the Federal Reserve</a> with his comedic YouTube parody of "<a href="https://en.wikipedia.org/wiki/Every_Breath_You_Take" title="Every Breath You Take" style="text-decoration: none; background: none;">Every Breath You Take</a>", "Every Breath Bernanke Takes".<a href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#cite_note-19" style="text-decoration: none; background: none;">[19]</a><h2 style="background: none; font-weight: normal; margin: 1em 0px 0.25em; overflow: hidden; padding: 0px; border-bottom: 1px solid rgb(170, 170, 170); line-height: 1.3;">References[<a href="https://en.wikipedia.org/w/index.php?title=Glenn_Hubbard(economist)&action=edit&section=9&editintro=Template:BLP_editintro" title="Edit section: References" style="text-decoration: none; background: none;">edit</a>]</h2><div class="reflist columns references-column-width" style="margin-bottom: 0.5em; margin-top: 0.3em; column-width: 30em; list-style-type: decimal;"><ol class="references" style="margin: 0px 0px 0px 3.2em; padding: 0px; list-style-image: none; list-style-type: inherit;"><li id="cite_note-supervisors-1" style="margin-bottom: 0.1em; break-inside: avoid-column;">^ <a href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#cite_ref-supervisors_1-0" style="text-decoration: none; background: none;"><span class="cite-accessibility-label" style="user-select: none; top: -99999px; clip: rect(1px 1px 1px 1px); overflow: hidden; position: absolute !important; padding: 0px !important; border: 0px !important; height: 1px !important; width: 1px !important;">Jump up to:a</a> <a href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#cite_ref-supervisors_1-1" style="text-decoration: none; background: none;">b</a> <a href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#cite_ref-supervisors_1-2" style="text-decoration: none; background: none;">c</a> <a rel="nofollow" class="external text" href="https://www0.gsb.columbia.edu/mygsb/faculty/research/pubfiles/4572/Hubbard%20Curriculum%20Vitae%20-%20complete.pdf" style="text-decoration: none; background: url("//upload.wikimedia.org/wikipedia/commons/2/23/Icons-mini-file_acrobat.gif") right center no-repeat; padding-right: 18px;">Hubbard's CV</a></li><li id="cite_note-Glater2004-2" style="margin-bottom: 0.1em; break-inside: avoid-column;"><a href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#cite_ref-Glater2004_2-0" style="text-decoration: none; background: none;"><span class="cite-accessibility-label" style="user-select: none; top: -99999px; clip: rect(1px 1px 1px 1px); overflow: hidden; position: absolute !important; padding: 0px !important; border: 0px !important; height: 1px !important; width: 1px !important;">Jump up^{</a> }<cite class="citation web" style="font-style: inherit; word-wrap: break-word;">Glater, Jonathan D. (April 1, 2004). <a rel="nofollow" class="external text" href="http://query.nytimes.com/gst/fullpage.html?res=9C00E0D61439F932A35757C0A9629C8B63" style="text-decoration: none; background: linear-gradient(transparent, transparent) right center no-repeat, url("data:image/svg+xml,%3C%3Fxml%20version%3D%221.0%22%20encoding%3D%22UTF-8%22%20standalone%3D%22no%22%3F%3E%3Csvg%20xmlns%3D%22http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%22%20width%3D%2212%22%20height%3D%2212%22%3E%3Cpath%20fill%3D%22%23fff%22%20stroke%3D%22%2306c%22%20d%3D%22M1.5%204.518h5.982V10.5H1.5z%22%2F%3E%3Cpath%20d%3D%22M5.765%201H11v5.39L9.427%207.937l-1.31-1.31L5.393%209.35l-2.69-2.688%202.81-2.808L4.2%202.544z%22%20fill%3D%22%2306f%22%2F%3E%3Cpath%20d%3D%22M9.995%202.004l.022%204.885L8.2%205.07%205.32%207.95%204.09%206.723l2.882-2.88-1.85-1.852z%22%20fill%3D%22%23fff%22%2F%3E%3C%2Fsvg%3E"); padding-right: 13px;">"Former Bush Aide Will Lead Columbia Business School"</a>. <a href="https://en.wikipedia.org/wiki/New_York_Times" class="mw-redirect" title="New York Times" style="text-decoration: none; background: none;">New York Times</a>. Retrieved 2008-12-15.</cite><span title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AGlenn+Hubbard+%28economist%29&rft.atitle=Former+Bush+Aide+Will+Lead+Columbia+Business+School&rft.aufirst=Jonathan+D.&rft.aulast=Glater&rft.date=2004-04-01&rft.genre=unknown&rft_id=http%3A%2F%2Fquery.nytimes.com%2Fgst%2Ffullpage.html%3Fres%3D9C00E0D61439F932A35757C0A9629C8B63&rft.jtitle=New+York+Times&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal" class="Z3988" /></li><li id="cite_note-AEI-3" style="margin-bottom: 0.1em; break-inside: avoid-column;">^ <a href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#cite_ref-AEI_3-0" style="text-decoration: none; background: none;"><span class="cite-accessibility-label" style="user-select: none; top: -99999px; clip: rect(1px 1px 1px 1px); overflow: hidden; position: absolute !important; padding: 0px !important; border: 0px !important; height: 1px !important; width: 1px !important;">Jump up to:a</a> <a href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#cite_ref-AEI_3-1" style="text-decoration: none; background: none;">b</a> American Enterprise Institute, <a rel="nofollow" class="external text" href="http://www.aei.org/scholar/71" style="text-decoration: none; background: linear-gradient(transparent, transparent) right center no-repeat, url("data:image/svg+xml,%3C%3Fxml%20version%3D%221.0%22%20encoding%3D%22UTF-8%22%20standalone%3D%22no%22%3F%3E%3Csvg%20xmlns%3D%22http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%22%20width%3D%2212%22%20height%3D%2212%22%3E%3Cpath%20fill%3D%22%23fff%22%20stroke%3D%22%2306c%22%20d%3D%22M1.5%204.518h5.982V10.5H1.5z%22%2F%3E%3Cpath%20d%3D%22M5.765%201H11v5.39L9.427%207.937l-1.31-1.31L5.393%209.35l-2.69-2.688%202.81-2.808L4.2%202.544z%22%20fill%3D%22%2306f%22%2F%3E%3Cpath%20d%3D%22M9.995%202.004l.022%204.885L8.2%205.07%205.32%207.95%204.09%206.723l2.882-2.88-1.85-1.852z%22%20fill%3D%22%23fff%22%2F%3E%3C%2Fsvg%3E"); padding-right: 13px;">R. Glenn Hubbard</a></li><li id="cite_note-Segal-4" style="margin-bottom: 0.1em; break-inside: avoid-column;">^ <a href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#cite_ref-Segal_4-0" style="text-decoration: none; background: none;"><span class="cite-accessibility-label" style="user-select: none; top: -99999px; clip: rect(1px 1px 1px 1px); overflow: hidden; position: absolute !important; padding: 0px !important; border: 0px !important; height: 1px !important; width: 1px !important;">Jump up to:a</a> <a href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#cite_ref-Segal_4-1" style="text-decoration: none; background: none;">b</a> <cite class="citation web" style="font-style: inherit; word-wrap: break-word;">Segal, David (October 13, 2012). <a rel="nofollow" class="external text" href="http://www.nytimes.com/2012/10/14/business/glenn-hubbard-is-romneys-go-to-economist.html?pagewanted=all" style="text-decoration: none; background: linear-gradient(transparent, transparent) right center no-repeat, url("data:image/svg+xml,%3C%3Fxml%20version%3D%221.0%22%20encoding%3D%22UTF-8%22%20standalone%3D%22no%22%3F%3E%3Csvg%20xmlns%3D%22http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%22%20width%3D%2212%22%20height%3D%2212%22%3E%3Cpath%20fill%3D%22%23fff%22%20stroke%3D%22%2306c%22%20d%3D%22M1.5%204.518h5.982V10.5H1.5z%22%2F%3E%3Cpath%20d%3D%22M5.765%201H11v5.39L9.427%207.937l-1.31-1.31L5.393%209.35l-2.69-2.688%202.81-2.808L4.2%202.544z%22%20fill%3D%22%2306f%22%2F%3E%3Cpath%20d%3D%22M9.995%202.004l.022%204.885L8.2%205.07%205.32%207.95%204.09%206.723l2.882-2.88-1.85-1.852z%22%20fill%3D%22%23fff%22%2F%3E%3C%2Fsvg%3E"); padding-right: 13px;">"Romney's Go-To Economist"</a>. <a href="https://en.wikipedia.org/wiki/The_New_York_Times" title="The New York Times" style="text-decoration: none; background: none;">The New York Times</a>. Retrieved October 13, 2012.</cite><span title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AGlenn+Hubbard+%28economist%29&rft.atitle=Romney%27s+Go-To+Economist&rft.aufirst=David&rft.aulast=Segal&rft.date=2012-10-13&rft.genre=unknown&rft_id=http%3A%2F%2Fwww.nytimes.com%2F2012%2F10%2F14%2Fbusiness%2Fglenn-hubbard-is-romneys-go-to-economist.html%3Fpagewanted%3Dall&rft.jtitle=The+New+York+Times&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal" class="Z3988" /></li><li id="cite_note-metlife-5" style="margin-bottom: 0.1em; break-inside: avoid-column;">^ <a href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#cite_ref-metlife_5-0" style="text-decoration: none; background: none;"><span class="cite-accessibility-label" style="user-select: none; top: -99999px; clip: rect(1px 1px 1px 1px); overflow: hidden; position: absolute !important; padding: 0px !important; border: 0px !important; height: 1px !important; width: 1px !important;">Jump up to:a</a> <a href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#cite_ref-metlife_5-1" style="text-decoration: none; background: none;">b</a> <a href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#cite_ref-metlife_5-2" style="text-decoration: none; background: none;">c</a> <cite class="citation web" style="font-style: inherit; word-wrap: break-word;"><a rel="nofollow" class="external text" href="http://www.metlife.com/Applications/Corporate/WPS/CDA/PageGenerator/0,4132,P14649,00.html" style="text-decoration: none; background: linear-gradient(transparent, transparent) right center no-repeat, url("data:image/svg+xml,%3C%3Fxml%20version%3D%221.0%22%20encoding%3D%22UTF-8%22%20standalone%3D%22no%22%3F%3E%3Csvg%20xmlns%3D%22http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%22%20width%3D%2212%22%20height%3D%2212%22%3E%3Cpath%20fill%3D%22%23fff%22%20stroke%3D%22%2306c%22%20d%3D%22M1.5%204.518h5.982V10.5H1.5z%22%2F%3E%3Cpath%20d%3D%22M5.765%201H11v5.39L9.427%207.937l-1.31-1.31L5.393%209.35l-2.69-2.688%202.81-2.808L4.2%202.544z%22%20fill%3D%22%2306f%22%2F%3E%3Cpath%20d%3D%22M9.995%202.004l.022%204.885L8.2%205.07%205.32%207.95%204.09%206.723l2.882-2.88-1.85-1.852z%22%20fill%3D%22%23fff%22%2F%3E%3C%2Fsvg%3E"); padding-right: 13px;">"Director – R. Glenn Hubbard"</a>. <a href="https://en.wikipedia.org/wiki/Metlife" class="mw-redirect" title="Metlife" style="text-decoration: none; background: none;">Metlife</a>. Retrieved 2008-12-15. <q style="quotes: "\"" "\"" "'" "'";">R. Glenn Hubbard, Ph.D., age 50, has been the Dean of the Graduate School of Business at Columbia University since 2004 and the Russell L. Carson Professor of Finance and Economics since 1994. Dr. Hubbard has been a professor of the Graduate School of Business at Columbia University since 1988. He is also a visiting scholar and Director of the Tax Policy Program for the American Enterprise Institute, and was a member of the Panel of Economic Advisers for the Congressional Budget Office from 2004 to 2006. From 2001 to 2003, Dr. Hubbard served as Chairman of the U.S. Council of Economic Advisers and as Chairman of the Economic Policy Committee of the Organization for Economic Cooperation and Development. Dr. Hubbard is a member of the Board of Directors of Automatic Data Processing, Inc., BlackRock Closed-End Funds, Capmark Financial Corporation, Duke Realty Corporation, <a href="https://en.wikipedia.org/wiki/KKR_Financial_Corporation" class="mw-redirect" title="KKR Financial Corporation" style="text-decoration: none; background: none;">KKR Financial Corporation</a> and Ripplewood Holdings. He is also a Director or Trustee of the Economic Club of New York, Tax Foundation, Resources for the Future, Manhattan Council and Fifth Avenue Presbyterian Church, New York, and a member of the Advisory Board of the National Center on Addiction and Substance Abuse... Director of MetLife and Metropolitan Life Insurance Company since February 2007. <a rel="nofollow" class="external text" href="http://edgar.brand.edgar-online.com/EFX_dll/EDGARpro.dll?FetchFilingHtmlSection1?SectionID=6515274-32976-53380&SessionID=MsKjHHC7QJMP2s7" style="text-decoration: none; background: linear-gradient(transparent, transparent) right center no-repeat, url("data:image/svg+xml,%3C%3Fxml%20version%3D%221.0%22%20encoding%3D%22UTF-8%22%20standalone%3D%22no%22%3F%3E%3Csvg%20xmlns%3D%22http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%22%20width%3D%2212%22%20height%3D%2212%22%3E%3Cpath%20fill%3D%22%23fff%22%20stroke%3D%22%2306c%22%20d%3D%22M1.5%204.518h5.982V10.5H1.5z%22%2F%3E%3Cpath%20d%3D%22M5.765%201H11v5.39L9.427%207.937l-1.31-1.31L5.393%209.35l-2.69-2.688%202.81-2.808L4.2%202.544z%22%20fill%3D%22%2306f%22%2F%3E%3Cpath%20d%3D%22M9.995%202.004l.022%204.885L8.2%205.07%205.32%207.95%204.09%206.723l2.882-2.88-1.85-1.852z%22%20fill%3D%22%23fff%22%2F%3E%3C%2Fsvg%3E"); padding-right: 13px;">Link.</a></q></cite><span title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AGlenn+Hubbard+%28economist%29&rft.btitle=Director+%93+R.+Glenn+Hubbard&rft.genre=unknown&rft_id=http%3A%2F%2Fwww.metlife.com%2FApplications%2FCorporate%2FWPS%2FCDA%2FPageGenerator%2F0%2C4132%2CP14649%2C00.html&rft.pub=Metlife&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook" class="Z3988" /></li><li id="cite_note-Andrews2005-6" style="margin-bottom: 0.1em; break-inside: avoid-column;">^ <a href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#cite_ref-Andrews2005_6-0" style="text-decoration: none; background: none;"><span class="cite-accessibility-label" style="user-select: none; top: -99999px; clip: rect(1px 1px 1px 1px); overflow: hidden; position: absolute !important; padding: 0px !important; border: 0px !important; height: 1px !important; width: 1px !important;">Jump up to:a</a> <a href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#cite_ref-Andrews2005_6-1" style="text-decoration: none; background: none;">b</a> <cite class="citation news" style="font-style: inherit; word-wrap: break-word;"><a href="https://en.wikipedia.org/wiki/Edmund_Andrews(reporter)" class="mw-redirect" title="Edmund Andrews (reporter)" style="text-decoration: none; background: none;">Andrews, Edmund L.</a>; <a href="https://en.wikipedia.org/wiki/David_Leonhardt" title="David Leonhardt" style="text-decoration: none; background: none;">David Leonhardt</a>; Eduardo Porter; <a href="https://en.wikipedia.org/wiki/Louis_Uchitelle" title="Louis Uchitelle" style="text-decoration: none; background: none;">Louis Uchitelle</a> (October 26, 2005). <a rel="nofollow" class="external text" href="http://www.nytimes.com/2005/10/26/business/26fed.html" style="text-decoration: none; background: linear-gradient(transparent, transparent) right center no-repeat, url("data:image/svg+xml,%3C%3Fxml%20version%3D%221.0%22%20encoding%3D%22UTF-8%22%20standalone%3D%22no%22%3F%3E%3Csvg%20xmlns%3D%22http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%22%20width%3D%2212%22%20height%3D%2212%22%3E%3Cpath%20fill%3D%22%23fff%22%20stroke%3D%22%2306c%22%20d%3D%22M1.5%204.518h5.982V10.5H1.5z%22%2F%3E%3Cpath%20d%3D%22M5.765%201H11v5.39L9.427%207.937l-1.31-1.31L5.393%209.35l-2.69-2.688%202.81-2.808L4.2%202.544z%22%20fill%3D%22%2306f%22%2F%3E%3Cpath%20d%3D%22M9.995%202.004l.022%204.885L8.2%205.07%205.32%207.95%204.09%206.723l2.882-2.88-1.85-1.852z%22%20fill%3D%22%23fff%22%2F%3E%3C%2Fsvg%3E"); padding-right: 13px;">"At the Fed, an Unknown Became a Safe Choice"</a>. <a href="https://en.wikipedia.org/wiki/New_York_Times" class="mw-redirect" title="New York Times" style="text-decoration: none; background: none;">New York Times</a>. Retrieved 2008-12-15.</cite><span title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AGlenn+Hubbard+%28economist%29&rft.atitle=At+the+Fed%2C+an+Unknown+Became+a+Safe+Choice&rft.au=David+Leonhardt&rft.au=Eduardo+Porter&rft.aufirst=Edmund+L.&rft.aulast=Andrews&rft.au=Louis+Uchitelle&rft.date=2005-10-26&rft.genre=article&rft_id=http%3A%2F%2Fwww.nytimes.com%2F2005%2F10%2F26%2Fbusiness%2F26fed.html&rft.jtitle=New+York+Times&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal" class="Z3988" /></li><li id="cite_note-Politico-7" style="margin-bottom: 0.1em; break-inside: avoid-column;"><a href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#cite_ref-Politico_7-0" style="text-decoration: none; background: none;"><span class="cite-accessibility-label" style="user-select: none; top: -99999px; clip: rect(1px 1px 1px 1px); overflow: hidden; position: absolute !important; padding: 0px !important; border: 0px !important; height: 1px !important; width: 1px !important;">Jump up^{</a> }<cite class="citation web" style="font-style: inherit; word-wrap: break-word;">White, Ben. <a rel="nofollow" class="external text" href="http://www.politico.com/story/2015/03/jebonomics-different-enough-from-w-116401.html" style="text-decoration: none; background: linear-gradient(transparent, transparent) right center no-repeat, url("data:image/svg+xml,%3C%3Fxml%20version%3D%221.0%22%20encoding%3D%22UTF-8%22%20standalone%3D%22no%22%3F%3E%3Csvg%20xmlns%3D%22http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%22%20width%3D%2212%22%20height%3D%2212%22%3E%3Cpath%20fill%3D%22%23fff%22%20stroke%3D%22%2306c%22%20d%3D%22M1.5%204.518h5.982V10.5H1.5z%22%2F%3E%3Cpath%20d%3D%22M5.765%201H11v5.39L9.427%207.937l-1.31-1.31L5.393%209.35l-2.69-2.688%202.81-2.808L4.2%202.544z%22%20fill%3D%22%2306f%22%2F%3E%3Cpath%20d%3D%22M9.995%202.004l.022%204.885L8.2%205.07%205.32%207.95%204.09%206.723l2.882-2.88-1.85-1.852z%22%20fill%3D%22%23fff%22%2F%3E%3C%2Fsvg%3E"); padding-right: 13px;">"Jeb Bush's tricky path to an economic plan"</a>. Politico. Retrieved 29 March 2015.</cite><span title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AGlenn+Hubbard+%28economist%29&rft.aufirst=Ben&rft.aulast=White&rft.btitle=Jeb+Bush%27s+tricky+path+to+an+economic+plan&rft.genre=unknown&rft_id=http%3A%2F%2Fwww.politico.com%2Fstory%2F2015%2F03%2Fjebonomics-different-enough-from-w-116401.html&rft.pub=Politico&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook" class="Z3988" /></li><li id="cite_note-8" style="margin-bottom: 0.1em; break-inside: avoid-column;"><a href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#cite_ref-8" style="text-decoration: none; background: none;"><span class="cite-accessibility-label" style="user-select: none; top: -99999px; clip: rect(1px 1px 1px 1px); overflow: hidden; position: absolute !important; padding: 0px !important; border: 0px !important; height: 1px !important; width: 1px !important;">Jump up^{</a> }<a rel="nofollow" class="external text" href="http://online.wsj.com/article/SB10001424052970204778604577241583152450486.html" style="text-decoration: none; background: linear-gradient(transparent, transparent) right center no-repeat, url("data:image/svg+xml,%3C%3Fxml%20version%3D%221.0%22%20encoding%3D%22UTF-8%22%20standalone%3D%22no%22%3F%3E%3Csvg%20xmlns%3D%22http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%22%20width%3D%2212%22%20height%3D%2212%22%3E%3Cpath%20fill%3D%22%23fff%22%20stroke%3D%22%2306c%22%20d%3D%22M1.5%204.518h5.982V10.5H1.5z%22%2F%3E%3Cpath%20d%3D%22M5.765%201H11v5.39L9.427%207.937l-1.31-1.31L5.393%209.35l-2.69-2.688%202.81-2.808L4.2%202.544z%22%20fill%3D%22%2306f%22%2F%3E%3Cpath%20d%3D%22M9.995%202.004l.022%204.885L8.2%205.07%205.32%207.95%204.09%206.723l2.882-2.88-1.85-1.852z%22%20fill%3D%22%23fff%22%2F%3E%3C%2Fsvg%3E"); padding-right: 13px;">Romney Taps Bush Hands to Shape Economic Policies</a>, February 24, 2012</li><li id="cite_note-9" style="margin-bottom: 0.1em; break-inside: avoid-column;"><a href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#cite_ref-9" style="text-decoration: none; background: none;"><span class="cite-accessibility-label" style="user-select: none; top: -99999px; clip: rect(1px 1px 1px 1px); overflow: hidden; position: absolute !important; padding: 0px !important; border: 0px !important; height: 1px !important; width: 1px !important;">Jump up^{</a> }"Who's on the inside track for a Romney Cabinet" by MIKE ALLEN and JIM VANDEHEI, Politico, August 28, 2012, <a rel="nofollow" class="external text" href="http://www.politico.com/news/stories/0812/80233.html" style="text-decoration: none; background: linear-gradient(transparent, transparent) right center no-repeat, url("data:image/svg+xml,%3C%3Fxml%20version%3D%221.0%22%20encoding%3D%22UTF-8%22%20standalone%3D%22no%22%3F%3E%3Csvg%20xmlns%3D%22http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%22%20width%3D%2212%22%20height%3D%2212%22%3E%3Cpath%20fill%3D%22%23fff%22%20stroke%3D%22%2306c%22%20d%3D%22M1.5%204.518h5.982V10.5H1.5z%22%2F%3E%3Cpath%20d%3D%22M5.765%201H11v5.39L9.427%207.937l-1.31-1.31L5.393%209.35l-2.69-2.688%202.81-2.808L4.2%202.544z%22%20fill%3D%22%2306f%22%2F%3E%3Cpath%20d%3D%22M9.995%202.004l.022%204.885L8.2%205.07%205.32%207.95%204.09%206.723l2.882-2.88-1.85-1.852z%22%20fill%3D%22%23fff%22%2F%3E%3C%2Fsvg%3E"); padding-right: 13px;">Retrieved 2012-08-28</a></li><li id="cite_note-10" style="margin-bottom: 0.1em; break-inside: avoid-column;"><a href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#cite_ref-10" style="text-decoration: none; background: none;"><span class="cite-accessibility-label" style="user-select: none; top: -99999px; clip: rect(1px 1px 1px 1px); overflow: hidden; position: absolute !important; padding: 0px !important; border: 0px !important; height: 1px !important; width: 1px !important;">Jump up^{</a> }<cite class="citation web" style="font-style: inherit; word-wrap: break-word;"><a rel="nofollow" class="external text" href="http://www.investquest.com/iq/a/adp/mgt/adpmgt.htm" style="text-decoration: none; background: linear-gradient(transparent, transparent) right center no-repeat, url("data:image/svg+xml,%3C%3Fxml%20version%3D%221.0%22%20encoding%3D%22UTF-8%22%20standalone%3D%22no%22%3F%3E%3Csvg%20xmlns%3D%22http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%22%20width%3D%2212%22%20height%3D%2212%22%3E%3Cpath%20fill%3D%22%23fff%22%20stroke%3D%22%2306c%22%20d%3D%22M1.5%204.518h5.982V10.5H1.5z%22%2F%3E%3Cpath%20d%3D%22M5.765%201H11v5.39L9.427%207.937l-1.31-1.31L5.393%209.35l-2.69-2.688%202.81-2.808L4.2%202.544z%22%20fill%3D%22%2306f%22%2F%3E%3Cpath%20d%3D%22M9.995%202.004l.022%204.885L8.2%205.07%205.32%207.95%204.09%206.723l2.882-2.88-1.85-1.852z%22%20fill%3D%22%23fff%22%2F%3E%3C%2Fsvg%3E"); padding-right: 13px;">"Directors and Corporate Officers"</a>. ADP : Automatic Data Processing, Inc. Retrieved 2008-12-15.</cite><span title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AGlenn+Hubbard+%28economist%29&rft.atitle=Directors+and+Corporate+Officers&rft.genre=unknown&rft_id=http%3A%2F%2Fwww.investquest.com%2Fiq%2Fa%2Fadp%2Fmgt%2Fadpmgt.htm&rft.jtitle=ADP+%3A+Automatic+Data+Processing%2C+Inc.&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal" class="Z3988" /></li><li id="cite_note-11" style="margin-bottom: 0.1em; break-inside: avoid-column;"><a href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#cite_ref-11" style="text-decoration: none; background: none;"><span class="cite-accessibility-label" style="user-select: none; top: -99999px; clip: rect(1px 1px 1px 1px); overflow: hidden; position: absolute !important; padding: 0px !important; border: 0px !important; height: 1px !important; width: 1px !important;">Jump up^{</a> }<cite class="citation web" style="font-style: inherit; word-wrap: break-word;"><a rel="nofollow" class="external text" href="http://www.reuters.com/finance/stocks/officerProfile?symbol=CYE.N&officerId=1070932" style="text-decoration: none; background: linear-gradient(transparent, transparent) right center no-repeat, url("data:image/svg+xml,%3C%3Fxml%20version%3D%221.0%22%20encoding%3D%22UTF-8%22%20standalone%3D%22no%22%3F%3E%3Csvg%20xmlns%3D%22http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%22%20width%3D%2212%22%20height%3D%2212%22%3E%3Cpath%20fill%3D%22%23fff%22%20stroke%3D%22%2306c%22%20d%3D%22M1.5%204.518h5.982V10.5H1.5z%22%2F%3E%3Cpath%20d%3D%22M5.765%201H11v5.39L9.427%207.937l-1.31-1.31L5.393%209.35l-2.69-2.688%202.81-2.808L4.2%202.544z%22%20fill%3D%22%2306f%22%2F%3E%3Cpath%20d%3D%22M9.995%202.004l.022%204.885L8.2%205.07%205.32%207.95%204.09%206.723l2.882-2.88-1.85-1.852z%22%20fill%3D%22%23fff%22%2F%3E%3C%2Fsvg%3E"); padding-right: 13px;">"BlackRock Corporate High Yield Fund III Inc (CYE.N) Officers"</a>. <a href="https://en.wikipedia.org/wiki/Reuters" title="Reuters" style="text-decoration: none; background: none;">Reuters</a>. Retrieved 2008-12-15.</cite><span title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AGlenn+Hubbard+%28economist%29&rft.btitle=BlackRock+Corporate+High+Yield+Fund+III+Inc+%28CYE.N%29++Officers&rft.genre=unknown&rft_id=http%3A%2F%2Fwww.reuters.com%2Ffinance%2Fstocks%2FofficerProfile%3Fsymbol%3DCYE.N%26officerId%3D1070932&rft.pub=Reuters&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook" class="Z3988" /></li><li id="cite_note-12" style="margin-bottom: 0.1em; break-inside: avoid-column;"><a href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#cite_ref-12" style="text-decoration: none; background: none;"><span class="cite-accessibility-label" style="user-select: none; top: -99999px; clip: rect(1px 1px 1px 1px); overflow: hidden; position: absolute !important; padding: 0px !important; border: 0px !important; height: 1px !important; width: 1px !important;">Jump up^{</a> }<cite class="citation web" style="font-style: inherit; word-wrap: break-word;"><a rel="nofollow" class="external text" href="http://investor.dukerealty.com/phoenix.zhtml?c=60691&p=irol-govBoar" style="text-decoration: none; background: linear-gradient(transparent, transparent) right center no-repeat, url("data:image/svg+xml,%3C%3Fxml%20version%3D%221.0%22%20encoding%3D%22UTF-8%22%20standalone%3D%22no%22%3F%3E%3Csvg%20xmlns%3D%22http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%22%20width%3D%2212%22%20height%3D%2212%22%3E%3Cpath%20fill%3D%22%23fff%22%20stroke%3D%22%2306c%22%20d%3D%22M1.5%204.518h5.982V10.5H1.5z%22%2F%3E%3Cpath%20d%3D%22M5.765%201H11v5.39L9.427%207.937l-1.31-1.31L5.393%209.35l-2.69-2.688%202.81-2.808L4.2%202.544z%22%20fill%3D%22%2306f%22%2F%3E%3Cpath%20d%3D%22M9.995%202.004l.022%204.885L8.2%205.07%205.32%207.95%204.09%206.723l2.882-2.88-1.85-1.852z%22%20fill%3D%22%23fff%22%2F%3E%3C%2Fsvg%3E"); padding-right: 13px;">"dukerealty.com – Investor Relations – Management"</a>. Duke Realty. Retrieved 2008-12-15.</cite><span title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AGlenn+Hubbard+%28economist%29&rft.btitle=dukerealty.com+%93+Investor+Relations+%93+Management&rft.genre=unknown&rft_id=http%3A%2F%2Finvestor.dukerealty.com%2Fphoenix.zhtml%3Fc%3D60691%26p%3Dirol-govBoar&rft.pub=Duke+Realty&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook" class="Z3988" /></li><li id="cite_note-13" style="margin-bottom: 0.1em; break-inside: avoid-column;"><a href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#cite_ref-13" style="text-decoration: none; background: none;"><span class="cite-accessibility-label" style="user-select: none; top: -99999px; clip: rect(1px 1px 1px 1px); overflow: hidden; position: absolute !important; padding: 0px !important; border: 0px !important; height: 1px !important; width: 1px !important;">Jump up^{</a> }<a rel="nofollow" class="external free" href="https://www.fiscalnote.com/team" style="text-decoration: none; background: linear-gradient(transparent, transparent) right center no-repeat, url("data:image/svg+xml,%3C%3Fxml%20version%3D%221.0%22%20encoding%3D%22UTF-8%22%20standalone%3D%22no%22%3F%3E%3Csvg%20xmlns%3D%22http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%22%20width%3D%2212%22%20height%3D%2212%22%3E%3Cpath%20fill%3D%22%23fff%22%20stroke%3D%22%2306c%22%20d%3D%22M1.5%204.518h5.982V10.5H1.5z%22%2F%3E%3Cpath%20d%3D%22M5.765%201H11v5.39L9.427%207.937l-1.31-1.31L5.393%209.35l-2.69-2.688%202.81-2.808L4.2%202.544z%22%20fill%3D%22%2306f%22%2F%3E%3Cpath%20d%3D%22M9.995%202.004l.022%204.885L8.2%205.07%205.32%207.95%204.09%206.723l2.882-2.88-1.85-1.852z%22%20fill%3D%22%23fff%22%2F%3E%3C%2Fsvg%3E"); padding-right: 13px; word-wrap: break-word;">https://www.fiscalnote.com/team</a></li><li id="cite_note-14" style="margin-bottom: 0.1em; break-inside: avoid-column;"><a href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#cite_ref-14" style="text-decoration: none; background: none;"><span class="cite-accessibility-label" style="user-select: none; top: -99999px; clip: rect(1px 1px 1px 1px); overflow: hidden; position: absolute !important; padding: 0px !important; border: 0px !important; height: 1px !important; width: 1px !important;">Jump up^{</a> }<a rel="nofollow" class="external text" href="http://www.npr.org/templates/story/story.php?storyId=130272396" style="text-decoration: none; background: linear-gradient(transparent, transparent) right center no-repeat, url("data:image/svg+xml,%3C%3Fxml%20version%3D%221.0%22%20encoding%3D%22UTF-8%22%20standalone%3D%22no%22%3F%3E%3Csvg%20xmlns%3D%22http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%22%20width%3D%2212%22%20height%3D%2212%22%3E%3Cpath%20fill%3D%22%23fff%22%20stroke%3D%22%2306c%22%20d%3D%22M1.5%204.518h5.982V10.5H1.5z%22%2F%3E%3Cpath%20d%3D%22M5.765%201H11v5.39L9.427%207.937l-1.31-1.31L5.393%209.35l-2.69-2.688%202.81-2.808L4.2%202.544z%22%20fill%3D%22%2306f%22%2F%3E%3Cpath%20d%3D%22M9.995%202.004l.022%204.885L8.2%205.07%205.32%207.95%204.09%206.723l2.882-2.88-1.85-1.852z%22%20fill%3D%22%23fff%22%2F%3E%3C%2Fsvg%3E"); padding-right: 13px;">Transcript excerpt on "A Searing Look At Wall Street In 'Inside Job', Charles Ferguson interviewed by Melissa Block"</a>, which aired October 1, 2010 on <a href="https://en.wikipedia.org/wiki/NPR" title="NPR" style="text-decoration: none; background: none;">NPR</a>'s <a href="https://en.wikipedia.org/wiki/All_Things_Considered" title="All Things Considered" style="text-decoration: none; background: none;">All Things Considered</a>. During the program, Ferguson explained to <a href="https://en.wikipedia.org/wiki/Melissa_Block" title="Melissa Block" style="text-decoration: none; background: none;">Ms. Block</a>, "Well, the entire interview was fairly contentious, as you can imagine. It surprised me somewhat to realize that these people were not used to being challenged, that they'd never been questioned about this issue before. They clearly expected to be deferred to by me and I think by everybody."</li><li id="cite_note-spectator-15" style="margin-bottom: 0.1em; break-inside: avoid-column;">^ <a href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#cite_ref-spectator_15-0" style="text-decoration: none; background: none;"><span class="cite-accessibility-label" style="user-select: none; top: -99999px; clip: rect(1px 1px 1px 1px); overflow: hidden; position: absolute !important; padding: 0px !important; border: 0px !important; height: 1px !important; width: 1px !important;">Jump up to:a</a> <a href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#cite_ref-spectator_15-1" style="text-decoration: none; background: none;">b</a> <a rel="nofollow" class="external text" href="http://www.columbiaspectator.com/2011/04/13/inside-job-prompts-new-look-conflict-interest-policy" style="text-decoration: none; background: linear-gradient(transparent, transparent) right center no-repeat, url("data:image/svg+xml,%3C%3Fxml%20version%3D%221.0%22%20encoding%3D%22UTF-8%22%20standalone%3D%22no%22%3F%3E%3Csvg%20xmlns%3D%22http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%22%20width%3D%2212%22%20height%3D%2212%22%3E%3Cpath%20fill%3D%22%23fff%22%20stroke%3D%22%2306c%22%20d%3D%22M1.5%204.518h5.982V10.5H1.5z%22%2F%3E%3Cpath%20d%3D%22M5.765%201H11v5.39L9.427%207.937l-1.31-1.31L5.393%209.35l-2.69-2.688%202.81-2.808L4.2%202.544z%22%20fill%3D%22%2306f%22%2F%3E%3Cpath%20d%3D%22M9.995%202.004l.022%204.885L8.2%205.07%205.32%207.95%204.09%206.723l2.882-2.88-1.85-1.852z%22%20fill%3D%22%23fff%22%2F%3E%3C%2Fsvg%3E"); padding-right: 13px;">"‘Inside Job’ prompts new look at conﬂict of interest policy,"</a> published April 13, 2011, in the Columbia Spectator.</li><li id="cite_note-16" style="margin-bottom: 0.1em; break-inside: avoid-column;"><a href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#cite_ref-16" style="text-decoration: none; background: none;"><span class="cite-accessibility-label" style="user-select: none; top: -99999px; clip: rect(1px 1px 1px 1px); overflow: hidden; position: absolute !important; padding: 0px !important; border: 0px !important; height: 1px !important; width: 1px !important;">Jump up^{</a> }<a href="https://en.wikipedia.org/wiki/Matt_Taibbi" title="Matt Taibbi" style="text-decoration: none; background: none;">Taibbi, Matt</a>, <a rel="nofollow" class="external text" href="http://www.rollingstone.com/politics/blogs/taibblog/glenn-hubbard-leading-academic-and-mitt-romney-advisor-took-1200-an-hour-to-be-countrywides-expert-witness-20121220" style="text-decoration: none; background: linear-gradient(transparent, transparent) right center no-repeat, url("data:image/svg+xml,%3C%3Fxml%20version%3D%221.0%22%20encoding%3D%22UTF-8%22%20standalone%3D%22no%22%3F%3E%3Csvg%20xmlns%3D%22http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%22%20width%3D%2212%22%20height%3D%2212%22%3E%3Cpath%20fill%3D%22%23fff%22%20stroke%3D%22%2306c%22%20d%3D%22M1.5%204.518h5.982V10.5H1.5z%22%2F%3E%3Cpath%20d%3D%22M5.765%201H11v5.39L9.427%207.937l-1.31-1.31L5.393%209.35l-2.69-2.688%202.81-2.808L4.2%202.544z%22%20fill%3D%22%2306f%22%2F%3E%3Cpath%20d%3D%22M9.995%202.004l.022%204.885L8.2%205.07%205.32%207.95%204.09%206.723l2.882-2.88-1.85-1.852z%22%20fill%3D%22%23fff%22%2F%3E%3C%2Fsvg%3E"); padding-right: 13px;">"Glenn Hubbard, Leading Academic and Mitt Romney Advisor, Took $1200 an Hour to Be Countrywide's Expert Witness"</a>, <a href="https://en.wikipedia.org/wiki/Rolling_Stone(magazine)" class="mw-redirect" title="Rolling Stone (magazine)" style="text-decoration: none; background: none;">Rolling Stone</a> Taiblog, December 20, 2012. Retrieved 2012-12-26.</li><li id="cite_note-17" style="margin-bottom: 0.1em; break-inside: avoid-column;"><a href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#cite_ref-17" style="text-decoration: none; background: none;"><span class="cite-accessibility-label" style="user-select: none; top: -99999px; clip: rect(1px 1px 1px 1px); overflow: hidden; position: absolute !important; padding: 0px !important; border: 0px !important; height: 1px !important; width: 1px !important;">Jump up^{</a> }<cite class="citation audio-visual" style="font-style: inherit; word-wrap: break-word;"><a rel="nofollow" class="external text" href="https://www.youtube.com/watch?v=PAHvmbE7VmE&list=PL735298CFCE412337&index=20&feature=plpp_video" style="text-decoration: none; background: linear-gradient(transparent, transparent) right center no-repeat, url("data:image/svg+xml,%3C%3Fxml%20version%3D%221.0%22%20encoding%3D%22UTF-8%22%20standalone%3D%22no%22%3F%3E%3Csvg%20xmlns%3D%22http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%22%20width%3D%2212%22%20height%3D%2212%22%3E%3Cpath%20fill%3D%22%23fff%22%20stroke%3D%22%2306c%22%20d%3D%22M1.5%204.518h5.982V10.5H1.5z%22%2F%3E%3Cpath%20d%3D%22M5.765%201H11v5.39L9.427%207.937l-1.31-1.31L5.393%209.35l-2.69-2.688%202.81-2.808L4.2%202.544z%22%20fill%3D%22%2306f%22%2F%3E%3Cpath%20d%3D%22M9.995%202.004l.022%204.885L8.2%205.07%205.32%207.95%204.09%206.723l2.882-2.88-1.85-1.852z%22%20fill%3D%22%23fff%22%2F%3E%3C%2Fsvg%3E"); padding-right: 13px;">ECHO 360</a>. CBS Follies. December 16, 2011 – via YouTube. <q style="quotes: "\"" "\"" "'" "'";">Those ECHO 360 cameras in every room at CBS aren't just recording lectures so you can skip class on Jewish holidays. They're Hubbard's eyes and ears. He's watching you.</q></cite><span title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AGlenn+Hubbard+%28economist%29&rft.btitle=ECHO+360&rft.date=2011-12-16&rft.genre=unknown&rft_id=https%3A%2F%2Fwww.youtube.com%2Fwatch%3Fv%3DPAHvmbE7VmE%26list%3DPL735298CFCE412337%26index%3D20%26feature%3Dplpp_video&rft.pub=CBS+Follies&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook" class="Z3988" /></li><li id="cite_note-18" style="margin-bottom: 0.1em; break-inside: avoid-column;"><a href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#cite_ref-18" style="text-decoration: none; background: none;"><span class="cite-accessibility-label" style="user-select: none; top: -99999px; clip: rect(1px 1px 1px 1px); overflow: hidden; position: absolute !important; padding: 0px !important; border: 0px !important; height: 1px !important; width: 1px !important;">Jump up^{</a> }<cite class="citation audio-visual" style="font-style: inherit; word-wrap: break-word;"><a rel="nofollow" class="external text" href="https://www.youtube.com/watch?v=ECeIMxSnkaQ&list=PL92162A14A1FEF71D&index=21&feature=plpp_video" style="text-decoration: none; background: linear-gradient(transparent, transparent) right center no-repeat, url("data:image/svg+xml,%3C%3Fxml%20version%3D%221.0%22%20encoding%3D%22UTF-8%22%20standalone%3D%22no%22%3F%3E%3Csvg%20xmlns%3D%22http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%22%20width%3D%2212%22%20height%3D%2212%22%3E%3Cpath%20fill%3D%22%23fff%22%20stroke%3D%22%2306c%22%20d%3D%22M1.5%204.518h5.982V10.5H1.5z%22%2F%3E%3Cpath%20d%3D%22M5.765%201H11v5.39L9.427%207.937l-1.31-1.31L5.393%209.35l-2.69-2.688%202.81-2.808L4.2%202.544z%22%20fill%3D%22%2306f%22%2F%3E%3Cpath%20d%3D%22M9.995%202.004l.022%204.885L8.2%205.07%205.32%207.95%204.09%206.723l2.882-2.88-1.85-1.852z%22%20fill%3D%22%23fff%22%2F%3E%3C%2Fsvg%3E"); padding-right: 13px;">White House Dream</a>. CBS Follies. April 16, 2012 – via YouTube. <q style="quotes: "\"" "\"" "'" "'";">From the Columbia Business School Follies Spring 2012 Show</q></cite><span title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AGlenn+Hubbard+%28economist%29&rft.btitle=White+House+Dream&rft.date=2012-04-16&rft.genre=unknown&rft_id=https%3A%2F%2Fwww.youtube.com%2Fwatch%3Fv%3DECeIMxSnkaQ%26list%3DPL92162A14A1FEF71D%26index%3D21%26feature%3Dplpp_video&rft.pub=CBS+Follies&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook" class="Z3988" /></li><li id="cite_note-19" style="margin-bottom: 0.1em; break-inside: avoid-column;"><a href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#cite_ref-19" style="text-decoration: none; background: none;"><span class="cite-accessibility-label" style="user-select: none; top: -99999px; clip: rect(1px 1px 1px 1px); overflow: hidden; position: absolute !important; padding: 0px !important; border: 0px !important; height: 1px !important; width: 1px !important;">Jump up^{</a> }<cite id="CITEREFsnouri2006" class="citation" style="font-style: inherit; word-wrap: break-word;">snouri (2006-04-21), <a rel="nofollow" class="external text" href="https://www.youtube.com/watch?v=ipJTqCbETog" style="text-decoration: none; background: linear-gradient(transparent, transparent) right center no-repeat, url("data:image/svg+xml,%3C%3Fxml%20version%3D%221.0%22%20encoding%3D%22UTF-8%22%20standalone%3D%22no%22%3F%3E%3Csvg%20xmlns%3D%22http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%22%20width%3D%2212%22%20height%3D%2212%22%3E%3Cpath%20fill%3D%22%23fff%22%20stroke%3D%22%2306c%22%20d%3D%22M1.5%204.518h5.982V10.5H1.5z%22%2F%3E%3Cpath%20d%3D%22M5.765%201H11v5.39L9.427%207.937l-1.31-1.31L5.393%209.35l-2.69-2.688%202.81-2.808L4.2%202.544z%22%20fill%3D%22%2306f%22%2F%3E%3Cpath%20d%3D%22M9.995%202.004l.022%204.885L8.2%205.07%205.32%207.95%204.09%206.723l2.882-2.88-1.85-1.852z%22%20fill%3D%22%23fff%22%2F%3E%3C%2Fsvg%3E"); padding-right: 13px;">Every Breath Bernanke Takes</a>, retrieved 2016-03-30</cite><span title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AGlenn+Hubbard+%28economist%29&rft.au=snouri&rft.btitle=Every+Breath+Bernanke+Takes&rft.date=2006-04-21&rft.genre=book&rft_id=https%3A%2F%2Fwww.youtube.com%2Fwatch%3Fv%3DipJTqCbETog&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook" class="Z3988" /></li></ol></div><h2 style="background: none; font-weight: normal; margin: 1em 0px 0.25em; overflow: hidden; padding: 0px; border-bottom: 1px solid rgb(170, 170, 170); line-height: 1.3;">External links[<a href="https://en.wikipedia.org/w/index.php?title=Glenn_Hubbard(economist)&action=edit&section=10&editintro=Template:BLP_editintro" title="Edit section: External links" style="text-decoration: none; background: none;">edit</a>]</h2><ul style="margin: 0.3em 0px 0px 1.6em; padding: 0px; list-style-image: url("data:image/svg+xml,%3C%3Fxml%20version%3D%221.0%22%20encoding%3D%22UTF-8%22%3F%3E%0A%3Csvg%20xmlns%3D%22http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%22%20version%3D%221.1%22%20width%3D%225%22%20height%3D%2213%22%3E%0A%3Ccircle%20cx%3D%222.5%22%20cy%3D%229.5%22%20r%3D%222.5%22%20fill%3D%22%2300528c%22%2F%3E%0A%3C%2Fsvg%3E%0A");"><li style="margin-bottom: 0.1em;"><a rel="nofollow" class="external text" href="https://www8.gsb.columbia.edu/cbs-directory/detail/rgh1" style="text-decoration: none; background: linear-gradient(transparent, transparent) right center no-repeat, url("data:image/svg+xml,%3C%3Fxml%20version%3D%221.0%22%20encoding%3D%22UTF-8%22%20standalone%3D%22no%22%3F%3E%3Csvg%20xmlns%3D%22http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%22%20width%3D%2212%22%20height%3D%2212%22%3E%3Cpath%20fill%3D%22%23fff%22%20stroke%3D%22%2306c%22%20d%3D%22M1.5%204.518h5.982V10.5H1.5z%22%2F%3E%3Cpath%20d%3D%22M5.765%201H11v5.39L9.427%207.937l-1.31-1.31L5.393%209.35l-2.69-2.688%202.81-2.808L4.2%202.544z%22%20fill%3D%22%2306f%22%2F%3E%3Cpath%20d%3D%22M9.995%202.004l.022%204.885L8.2%205.07%205.32%207.95%204.09%206.723l2.882-2.88-1.85-1.852z%22%20fill%3D%22%23fff%22%2F%3E%3C%2Fsvg%3E"); padding-right: 13px;">Faculty page at Columbia University</a></li><li style="margin-bottom: 0.1em;"><a rel="nofollow" class="external text" href="http://aei.org/scholars/scholarID.71,filter.all/scholar.asp/" style="text-decoration: none; background: linear-gradient(transparent, transparent) right center no-repeat, url("data:image/svg+xml,%3C%3Fxml%20version%3D%221.0%22%20encoding%3D%22UTF-8%22%20standalone%3D%22no%22%3F%3E%3Csvg%20xmlns%3D%22http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%22%20width%3D%2212%22%20height%3D%2212%22%3E%3Cpath%20fill%3D%22%23fff%22%20stroke%3D%22%2306c%22%20d%3D%22M1.5%204.518h5.982V10.5H1.5z%22%2F%3E%3Cpath%20d%3D%22M5.765%201H11v5.39L9.427%207.937l-1.31-1.31L5.393%209.35l-2.69-2.688%202.81-2.808L4.2%202.544z%22%20fill%3D%22%2306f%22%2F%3E%3Cpath%20d%3D%22M9.995%202.004l.022%204.885L8.2%205.07%205.32%207.95%204.09%206.723l2.882-2.88-1.85-1.852z%22%20fill%3D%22%23fff%22%2F%3E%3C%2Fsvg%3E"); padding-right: 13px;">Scholar page at the American Enterprise Institute</a></li><li style="margin-bottom: 0.1em;"><a rel="nofollow" class="external text" href="http://www.c-span.org/person/?rhubbard" style="text-decoration: none; background: linear-gradient(transparent, transparent) right center no-repeat, url("data:image/svg+xml,%3C%3Fxml%20version%3D%221.0%22%20encoding%3D%22UTF-8%22%20standalone%3D%22no%22%3F%3E%3Csvg%20xmlns%3D%22http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%22%20width%3D%2212%22%20height%3D%2212%22%3E%3Cpath%20fill%3D%22%23fff%22%20stroke%3D%22%2306c%22%20d%3D%22M1.5%204.518h5.982V10.5H1.5z%22%2F%3E%3Cpath%20d%3D%22M5.765%201H11v5.39L9.427%207.937l-1.31-1.31L5.393%209.35l-2.69-2.688%202.81-2.808L4.2%202.544z%22%20fill%3D%22%2306f%22%2F%3E%3Cpath%20d%3D%22M9.995%202.004l.022%204.885L8.2%205.07%205.32%207.95%204.09%206.723l2.882-2.88-1.85-1.852z%22%20fill%3D%22%23fff%22%2F%3E%3C%2Fsvg%3E"); padding-right: 13px;">Appearances</a> on <a href="https://en.wikipedia.org/wiki/C-SPAN" title="C-SPAN" style="text-decoration: none; background: none;">C-SPAN</a></li><li style="margin-bottom: 0.1em;"><a rel="nofollow" class="external text" href="http://electioncentral.tpmcafe.com/blog/electioncentral/2006/dec/21/your_massive_election_central_guide_to_2008_presidential_campaign_staffs/" style="text-decoration: none; background: linear-gradient(transparent, transparent) right center no-repeat, url("data:image/svg+xml,%3C%3Fxml%20version%3D%221.0%22%20encoding%3D%22UTF-8%22%20standalone%3D%22no%22%3F%3E%3Csvg%20xmlns%3D%22http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%22%20width%3D%2212%22%20height%3D%2212%22%3E%3Cpath%20fill%3D%22%23fff%22%20stroke%3D%22%2306c%22%20d%3D%22M1.5%204.518h5.982V10.5H1.5z%22%2F%3E%3Cpath%20d%3D%22M5.765%201H11v5.39L9.427%207.937l-1.31-1.31L5.393%209.35l-2.69-2.688%202.81-2.808L4.2%202.544z%22%20fill%3D%22%2306f%22%2F%3E%3Cpath%20d%3D%22M9.995%202.004l.022%204.885L8.2%205.07%205.32%207.95%204.09%206.723l2.882-2.88-1.85-1.852z%22%20fill%3D%22%23fff%22%2F%3E%3C%2Fsvg%3E"); padding-right: 13px;">Election Central Guide to 2008</a></li><li style="margin-bottom: 0.1em;"><a rel="nofollow" class="external text" href="http://www.sonyclassics.com/insidejob/" style="text-decoration: none; background: linear-gradient(transparent, transparent) right center no-repeat, url("data:image/svg+xml,%3C%3Fxml%20version%3D%221.0%22%20encoding%3D%22UTF-8%22%20standalone%3D%22no%22%3F%3E%3Csvg%20xmlns%3D%22http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%22%20width%3D%2212%22%20height%3D%2212%22%3E%3Cpath%20fill%3D%22%23fff%22%20stroke%3D%22%2306c%22%20d%3D%22M1.5%204.518h5.982V10.5H1.5z%22%2F%3E%3Cpath%20d%3D%22M5.765%201H11v5.39L9.427%207.937l-1.31-1.31L5.393%209.35l-2.69-2.688%202.81-2.808L4.2%202.544z%22%20fill%3D%22%2306f%22%2F%3E%3Cpath%20d%3D%22M9.995%202.004l.022%204.885L8.2%205.07%205.32%207.95%204.09%206.723l2.882-2.88-1.85-1.852z%22%20fill%3D%22%23fff%22%2F%3E%3C%2Fsvg%3E"); padding-right: 13px;">Inside Job – Documentary Site at Sony.com</a></li><li style="margin-bottom: 0.1em;"><a rel="nofollow" class="external text" href="http://www.glennhubbard.net/" style="text-decoration: none; background: linear-gradient(transparent, transparent) right center no-repeat, url("data:image/svg+xml,%3C%3Fxml%20version%3D%221.0%22%20encoding%3D%22UTF-8%22%20standalone%3D%22no%22%3F%3E%3Csvg%20xmlns%3D%22http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%22%20width%3D%2212%22%20height%3D%2212%22%3E%3Cpath%20fill%3D%22%23fff%22%20stroke%3D%22%2306c%22%20d%3D%22M1.5%204.518h5.982V10.5H1.5z%22%2F%3E%3Cpath%20d%3D%22M5.765%201H11v5.39L9.427%207.937l-1.31-1.31L5.393%209.35l-2.69-2.688%202.81-2.808L4.2%202.544z%22%20fill%3D%22%2306f%22%2F%3E%3Cpath%20d%3D%22M9.995%202.004l.022%204.885L8.2%205.07%205.32%207.95%204.09%206.723l2.882-2.88-1.85-1.852z%22%20fill%3D%22%23fff%22%2F%3E%3C%2Fsvg%3E"); padding-right: 13px;">Personal Website and Archive</a></li></ul><table class="wikitable succession-box" style="margin: 0.5em auto; background-color: rgb(248, 249, 250); border: 1px solid rgb(162, 169, 177); border-collapse: collapse; clear: both;"><tbody><tr><th colspan="3" style="border-width: 5px 1px 1px; border-style: solid; border-color: rgb(204, 204, 255) rgb(170, 170, 170) rgb(170, 170, 170); border-image: initial; padding: 0.2em 0.4em; background-color: rgb(234, 236, 240); text-align: center;">Political offices</th></tr><tr style="text-align: center;"><td rowspan="1" style="border: 1px solid rgb(170, 170, 170); padding: 0.2em 0.4em; width: 199.775px;">Preceded by
<a href="https://en.wikipedia.org/wiki/Martin_Neil_Baily" title="Martin Neil Baily" style="text-decoration: none; background: none;">Martin Baily</a></td><td rowspan="1" style="border: 1px solid rgb(170, 170, 170); padding: 0.2em 0.4em; width: 270.175px;">Chair of the <a href="https://en.wikipedia.org/wiki/Council_of_Economic_Advisers" title="Council of Economic Advisers" style="text-decoration: none; background: none;">Council of Economic Advisers</a>
2001–2003</td><td rowspan="1" style="border: 1px solid rgb(170, 170, 170); padding: 0.2em 0.4em; width: 199.775px;">Succeeded by
<a href="https://en.wikipedia.org/wiki/Greg_Mankiw" title="Greg Mankiw" style="text-decoration: none; background: none;">Greg Mankiw</a></td></tr><tr><th colspan="3" style="border-width: 5px 1px 1px; border-style: solid; border-color: rgb(218, 165, 32) rgb(170, 170, 170) rgb(170, 170, 170); border-image: initial; padding: 0.2em 0.4em; background-color: rgb(234, 236, 240); text-align: center;">Academic offices</th></tr><tr style="text-align: center;"><td rowspan="1" style="border: 1px solid rgb(170, 170, 170); padding: 0.2em 0.4em; width: 199.775px;">Preceded by
<a href="https://en.wikipedia.org/wiki/Meyer_Feldberg" title="Meyer Feldberg" style="text-decoration: none; background: none;">Meyer Feldberg</a></td><td rowspan="1" style="border: 1px solid rgb(170, 170, 170); padding: 0.2em 0.4em; width: 270.175px;">Dean of <a href="https://en.wikipedia.org/wiki/Columbia_Business_School" title="Columbia Business School" style="text-decoration: none; background: none;">Columbia Business School</a>
2004–present</td><td rowspan="1" style="border: 1px solid rgb(170, 170, 170); padding: 0.2em 0.4em; width: 199.775px;">Incumbent</td></tr></tbody></table><div role="navigation" class="navbox" aria-labelledby="Chairs_of_the_Council_of_Economic_Advisers" style="box-sizing: border-box; border: 1px solid rgb(162, 169, 177); width: 1041.6px; clear: both; text-align: center; padding: 3px; margin: 1em auto 0px; background: rgb(253, 253, 253);"><table class="nowraplinks collapsible collapsed navbox-inner" id="collapsibleTable0" style="width: 1033.6px; border-spacing: 0px; background: transparent;"><tbody><tr><th scope="col" class="navbox-title" colspan="2" style="padding: 0.25em 1em; line-height: 1.5em; text-align: center; background: rgb(204, 204, 255);">[<a id="collapseButton0" href="https://en.wikipedia.org/wiki/Glenn_Hubbard(economist)#" style="text-decoration: none; background: none; white-space: nowrap;">show</a>]<div class="plainlinks hlist navbar mini" style="font-weight: normal; float: left; text-align: left; margin-right: 0.5em; width: 6em;"><ul style="margin: 0px; padding: 0px; list-style-image: url("data:image/svg+xml,%3C%3Fxml%20version%3D%221.0%22%20encoding%3D%22UTF-8%22%3F%3E%0A%3Csvg%20xmlns%3D%22http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%22%20version%3D%221.1%22%20width%3D%225%22%20height%3D%2213%22%3E%0A%3Ccircle%20cx%3D%222.5%22%20cy%3D%229.5%22%20r%3D%222.5%22%20fill%3D%22%2300528c%22%2F%3E%0A%3C%2Fsvg%3E%0A"); display: inline; white-space: nowrap; line-height: inherit;"><li class="nv-view" style="margin: 0px; display: inline; word-spacing: -0.125em;"><a href="https://en.wikipedia.org/wiki/Template:CEA_Chairs" title="Template:CEA Chairs" style="text-decoration: none; background: none;"><abbr title="View this template" style="border: none; cursor: inherit; font-variant-numeric: normal; font-variant-caps: small-caps; background: none transparent;">v</abbr></a></li><li class="nv-talk" style="margin: 0px; display: inline; word-spacing: -0.125em;"><a href="https://en.wikipedia.org/wiki/Template_talk:CEA_Chairs" title="Template talk:CEA Chairs" style="text-decoration: none; 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border: 1px solid rgb(162, 169, 177); width: 1041.6px; clear: both; text-align: center; padding: 3px; margin: -1px auto 0px; background: rgb(253, 253, 253);"><table class="nowraplinks hlist navbox-inner" style="width: 1033.6px; border-spacing: 0px; background: transparent;"><tbody><tr><th scope="row" class="navbox-group" style="padding: 0.25em 1em; line-height: 1.5em; text-align: right; white-space: nowrap; background: rgb(221, 221, 255);"><a href="https://en.wikipedia.org/wiki/Help:Authority_control" title="Help:Authority control" style="text-decoration: none; background: none;">Authority control</a></th><td class="navbox-list navbox-odd" style="line-height: 1.5em; border-color: rgb(253, 253, 253); background: transparent; border-left-width: 2px; border-left-style: solid; width: 910.4px; padding: 0px;"><div style="padding: 0em 0.25em;"><ul style="margin: 0px; padding: 0.125em 0px; list-style-image: url("data:image/svg+xml,%3C%3Fxml%20version%3D%221.0%22%20encoding%3D%22UTF-8%22%3F%3E%0A%3Csvg%20xmlns%3D%22http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%22%20version%3D%221.1%22%20width%3D%225%22%20height%3D%2213%22%3E%0A%3Ccircle%20cx%3D%222.5%22%20cy%3D%229.5%22%20r%3D%222.5%22%20fill%3D%22%2300528c%22%2F%3E%0A%3C%2Fsvg%3E%0A");"><li style="margin: 0px; display: inline;"><a rel="nofollow" class="external text" href="https://www.worldcat.org/identities/containsVIAFID/85337984" style="text-decoration: none; background: linear-gradient(transparent, transparent) right center no-repeat, url("data:image/svg+xml,%3C%3Fxml%20version%3D%221.0%22%20encoding%3D%22UTF-8%22%20standalone%3D%22no%22%3F%3E%3Csvg%20xmlns%3D%22http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%22%20width%3D%2212%22%20height%3D%2212%22%3E%3Cpath%20fill%3D%22%23fff%22%20stroke%3D%22%2306c%22%20d%3D%22M1.5%204.518h5.982V10.5H1.5z%22%2F%3E%3Cpath%20d%3D%22M5.765%201H11v5.39L9.427%207.937l-1.31-1.31L5.393%209.35l-2.69-2.688%202.81-2.808L4.2%202.544z%22%20fill%3D%22%2306f%22%2F%3E%3Cpath%20d%3D%22M9.995%202.004l.022%204.885L8.2%205.07%205.32%207.95%204.09%206.723l2.882-2.88-1.85-1.852z%22%20fill%3D%22%23fff%22%2F%3E%3C%2Fsvg%3E"); padding-right: 13px;">WorldCat Identities</a></li><li style="margin: 0px; display: inline;"><a href="https://en.wikipedia.org/wiki/Virtual_International_Authority_File" title="Virtual International Authority File" style="text-decoration: none; background: none;">VIAF</a>: <a rel="nofollow" class="external text" href="https://viaf.org/viaf/85337984" style="text-decoration: none; background: linear-gradient(transparent, transparent) right center no-repeat, url("data:image/svg+xml,%3C%3Fxml%20version%3D%221.0%22%20encoding%3D%22UTF-8%22%20standalone%3D%22no%22%3F%3E%3Csvg%20xmlns%3D%22http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%22%20width%3D%2212%22%20height%3D%2212%22%3E%3Cpath%20fill%3D%22%23fff%22%20stroke%3D%22%2306c%22%20d%3D%22M1.5%204.518h5.982V10.5H1.5z%22%2F%3E%3Cpath%20d%3D%22M5.765%201H11v5.39L9.427%207.937l-1.31-1.31L5.393%209.35l-2.69-2.688%202.81-2.808L4.2%202.544z%22%20fill%3D%22%2306f%22%2F%3E%3Cpath%20d%3D%22M9.995%202.004l.022%204.885L8.2%205.07%205.32%207.95%204.09%206.723l2.882-2.88-1.85-1.852z%22%20fill%3D%22%23fff%22%2F%3E%3C%2Fsvg%3E"); padding-right: 13px;">85337984</a></li><li style="margin: 0px; display: inline;"><a href="https://en.wikipedia.org/wiki/Library_of_Congress_Control_Number" title="Library of Congress Control Number" style="text-decoration: none; background: none;">LCCN</a>: <a rel="nofollow" class="external text" href="http://id.loc.gov/authorities/names/n84217238" style="text-decoration: none; background: linear-gradient(transparent, transparent) right center no-repeat, url("data:image/svg+xml,%3C%3Fxml%20version%3D%221.0%22%20encoding%3D%22UTF-8%22%20standalone%3D%22no%22%3F%3E%3Csvg%20xmlns%3D%22http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%22%20width%3D%2212%22%20height%3D%2212%22%3E%3Cpath%20fill%3D%22%23fff%22%20stroke%3D%22%2306c%22%20d%3D%22M1.5%204.518h5.982V10.5H1.5z%22%2F%3E%3Cpath%20d%3D%22M5.765%201H11v5.39L9.427%207.937l-1.31-1.31L5.393%209.35l-2.69-2.688%202.81-2.808L4.2%202.544z%22%20fill%3D%22%2306f%22%2F%3E%3Cpath%20d%3D%22M9.995%202.004l.022%204.885L8.2%205.07%205.32%207.95%204.09%206.723l2.882-2.88-1.85-1.852z%22%20fill%3D%22%23fff%22%2F%3E%3C%2Fsvg%3E"); padding-right: 13px;">n84217238</a></li><li style="margin: 0px; display: inline;"><a href="https://en.wikipedia.org/wiki/International_Standard_Name_Identifier" title="International Standard Name Identifier" style="text-decoration: none; background: none;">ISNI</a>: <a rel="nofollow" class="external text" href="http://isni.org/isni/0000000110749152" style="text-decoration: none; background: linear-gradient(transparent, transparent) right center no-repeat, url("data:image/svg+xml,%3C%3Fxml%20version%3D%221.0%22%20encoding%3D%22UTF-8%22%20standalone%3D%22no%22%3F%3E%3Csvg%20xmlns%3D%22http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%22%20width%3D%2212%22%20height%3D%2212%22%3E%3Cpath%20fill%3D%22%23fff%22%20stroke%3D%22%2306c%22%20d%3D%22M1.5%204.518h5.982V10.5H1.5z%22%2F%3E%3Cpath%20d%3D%22M5.765%201H11v5.39L9.427%207.937l-1.31-1.31L5.393%209.35l-2.69-2.688%202.81-2.808L4.2%202.544z%22%20fill%3D%22%2306f%22%2F%3E%3Cpath%20d%3D%22M9.995%202.004l.022%204.885L8.2%205.07%205.32%207.95%204.09%206.723l2.882-2.88-1.85-1.852z%22%20fill%3D%22%23fff%22%2F%3E%3C%2Fsvg%3E"); padding-right: 13px;">0000 0001 1074 9152</a></li><li style="margin: 0px; display: inline;"><a href="https://en.wikipedia.org/wiki/Integrated_Authority_File" title="Integrated Authority File" style="text-decoration: none; background: none;">GND</a>: <a rel="nofollow" class="external text" href="http://d-nb.info/gnd/124552064" style="text-decoration: none; background: linear-gradient(transparent, transparent) right center no-repeat, url("data:image/svg+xml,%3C%3Fxml%20version%3D%221.0%22%20encoding%3D%22UTF-8%22%20standalone%3D%22no%22%3F%3E%3Csvg%20xmlns%3D%22http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%22%20width%3D%2212%22%20height%3D%2212%22%3E%3Cpath%20fill%3D%22%23fff%22%20stroke%3D%22%2306c%22%20d%3D%22M1.5%204.518h5.982V10.5H1.5z%22%2F%3E%3Cpath%20d%3D%22M5.765%201H11v5.39L9.427%207.937l-1.31-1.31L5.393%209.35l-2.69-2.688%202.81-2.808L4.2%202.544z%22%20fill%3D%22%2306f%22%2F%3E%3Cpath%20d%3D%22M9.995%202.004l.022%204.885L8.2%205.07%205.32%207.95%204.09%206.723l2.882-2.88-1.85-1.852z%22%20fill%3D%22%23fff%22%2F%3E%3C%2Fsvg%3E"); padding-right: 13px;">124552064</a></li><li style="margin: 0px; display: inline;"><a href="https://en.wikipedia.org/wiki/Syst%C3%A8me_universitaire_de_documentation" title="Système universitaire de documentation" style="text-decoration: none; background: none;">SUDOC</a>: <a rel="nofollow" class="external text" href="http://www.idref.fr/031763812" style="text-decoration: none; background: linear-gradient(transparent, transparent) right center no-repeat, url("data:image/svg+xml,%3C%3Fxml%20version%3D%221.0%22%20encoding%3D%22UTF-8%22%20standalone%3D%22no%22%3F%3E%3Csvg%20xmlns%3D%22http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%22%20width%3D%2212%22%20height%3D%2212%22%3E%3Cpath%20fill%3D%22%23fff%22%20stroke%3D%22%2306c%22%20d%3D%22M1.5%204.518h5.982V10.5H1.5z%22%2F%3E%3Cpath%20d%3D%22M5.765%201H11v5.39L9.427%207.937l-1.31-1.31L5.393%209.35l-2.69-2.688%202.81-2.808L4.2%202.544z%22%20fill%3D%22%2306f%22%2F%3E%3Cpath%20d%3D%22M9.995%202.004l.022%204.885L8.2%205.07%205.32%207.95%204.09%206.723l2.882-2.88-1.85-1.852z%22%20fill%3D%22%23fff%22%2F%3E%3C%2Fsvg%3E"); padding-right: 13px;">031763812</a></li><li style="margin: 0px; display: inline;"><a href="https://en.wikipedia.org/wiki/Biblioth%C3%A8que_nationale_de_France" title="Bibliothèque nationale de France" style="text-decoration: none; background: none;">BNF</a>: <a rel="nofollow" class="external text" href="http://catalogue.bnf.fr/ark:/12148/cb12291859r" style="text-decoration: none; background: linear-gradient(transparent, transparent) right center no-repeat, url("data:image/svg+xml,%3C%3Fxml%20version%3D%221.0%22%20encoding%3D%22UTF-8%22%20standalone%3D%22no%22%3F%3E%3Csvg%20xmlns%3D%22http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%22%20width%3D%2212%22%20height%3D%2212%22%3E%3Cpath%20fill%3D%22%23fff%22%20stroke%3D%22%2306c%22%20d%3D%22M1.5%204.518h5.982V10.5H1.5z%22%2F%3E%3Cpath%20d%3D%22M5.765%201H11v5.39L9.427%207.937l-1.31-1.31L5.393%209.35l-2.69-2.688%202.81-2.808L4.2%202.544z%22%20fill%3D%22%2306f%22%2F%3E%3Cpath%20d%3D%22M9.995%202.004l.022%204.885L8.2%205.07%205.32%207.95%204.09%206.723l2.882-2.88-1.85-1.852z%22%20fill%3D%22%23fff%22%2F%3E%3C%2Fsvg%3E"); padding-right: 13px;">cb12291859r</a> <a rel="nofollow" class="external text" href="http://data.bnf.fr/ark:/12148/cb12291859r" style="text-decoration: none; background: linear-gradient(transparent, transparent) right center no-repeat, url("data:image/svg+xml,%3C%3Fxml%20version%3D%221.0%22%20encoding%3D%22UTF-8%22%20standalone%3D%22no%22%3F%3E%3Csvg%20xmlns%3D%22http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%22%20width%3D%2212%22%20height%3D%2212%22%3E%3Cpath%20fill%3D%22%23fff%22%20stroke%3D%22%2306c%22%20d%3D%22M1.5%204.518h5.982V10.5H1.5z%22%2F%3E%3Cpath%20d%3D%22M5.765%201H11v5.39L9.427%207.937l-1.31-1.31L5.393%209.35l-2.69-2.688%202.81-2.808L4.2%202.544z%22%20fill%3D%22%2306f%22%2F%3E%3Cpath%20d%3D%22M9.995%202.004l.022%204.885L8.2%205.07%205.32%207.95%204.09%206.723l2.882-2.88-1.85-1.852z%22%20fill%3D%22%23fff%22%2F%3E%3C%2Fsvg%3E"); padding-right: 13px;">(data)</a></li><li style="margin: 0px; display: inline;"><a href="https://en.wikipedia.org/wiki/National_Diet_Library" title="National Diet Library" style="text-decoration: none; background: none;">NDL</a>: <a rel="nofollow" class="external text" href="http://id.ndl.go.jp/auth/ndlna/001171299" style="text-decoration: none; background: linear-gradient(transparent, transparent) right center no-repeat, url("data:image/svg+xml,%3C%3Fxml%20version%3D%221.0%22%20encoding%3D%22UTF-8%22%20standalone%3D%22no%22%3F%3E%3Csvg%20xmlns%3D%22http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%22%20width%3D%2212%22%20height%3D%2212%22%3E%3Cpath%20fill%3D%22%23fff%22%20stroke%3D%22%2306c%22%20d%3D%22M1.5%204.518h5.982V10.5H1.5z%22%2F%3E%3Cpath%20d%3D%22M5.765%201H11v5.39L9.427%207.937l-1.31-1.31L5.393%209.35l-2.69-2.688%202.81-2.808L4.2%202.544z%22%20fill%3D%22%2306f%22%2F%3E%3Cpath%20d%3D%22M9.995%202.004l.022%204.885L8.2%205.07%205.32%207.95%204.09%206.723l2.882-2.88-1.85-1.852z%22%20fill%3D%22%23fff%22%2F%3E%3C%2Fsvg%3E"); padding-right: 13px;">001171299</a></li></ul></div></td></tr></tbody></table></div></div><div id="catlinks" class="catlinks" data-mw="interface" style="border: 1px solid rgb(162, 169, 177); background-color: rgb(248, 249, 250); padding: 5px; margin-top: 1em; clear: both;"><div id="mw-normal-catlinks" class="mw-normal-catlinks"><a href="https://en.wikipedia.org/wiki/Help:Category" title="Help:Category" style="text-decoration: none; background: none;">Categories</a>: <ul style="list-style: none none; margin: 0px; padding: 0px; display: inline;"><li style="margin: 0.125em 0px; display: inline-block; line-height: 1.25em; border-left: none; padding: 0px 0.5em 0px 0.25em; zoom: 1;"><a href="https://en.wikipedia.org/wiki/Category:1958_births" title="Category:1958 births" style="text-decoration: none; background: none;">1958 births</a></li><li style="margin: 0.125em 0px; display: inline-block; line-height: 1.25em; border-left: 1px solid rgb(170, 170, 170); padding: 0px 0.5em; zoom: 1;"><a href="https://en.wikipedia.org/wiki/Category:American_academics" title="Category:American academics" style="text-decoration: none; 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background: none;">Florida Republicans</a></li><li style="margin: 0.125em 0px; display: inline-block; line-height: 1.25em; border-left: 1px solid rgb(170, 170, 170); padding: 0px 0.5em; zoom: 1;"><a href="https://en.wikipedia.org/wiki/Category:George_W.Bush_administration_personnel" title="Category:George W. Bush administration personnel" style="text-decoration: none; background: none;">George W. Bush administration personnel</a></li><li style="margin: 0.125em 0px; display: inline-block; line-height: 1.25em; border-left: 1px solid rgb(170, 170, 170); padding: 0px 0.5em; zoom: 1;"><a href="https://en.wikipedia.org/wiki/Category:Harvard_University_alumni" title="Category:Harvard University alumni" style="text-decoration: none; background: none;">Harvard University alumni</a></li><li style="margin: 0.125em 0px; display: inline-block; line-height: 1.25em; border-left: 1px solid rgb(170, 170, 170); padding: 0px 0.5em; zoom: 1;"><a href="https://en.wikipedia.org/wiki/Category:Living_people" title="Category:Living people" style="text-decoration: none; background: none;">Living people</a></li><li style="margin: 0.125em 0px; display: inline-block; line-height: 1.25em; border-left: 1px solid rgb(170, 170, 170); padding: 0px 0.5em; zoom: 1;"><a href="https://en.wikipedia.org/wiki/Category:People_from_Apopka,Florida" title="Category:People from Apopka, Florida" style="text-decoration: none; background: none;">People from Apopka, Florida</a></li><li style="margin: 0.125em 0px; display: inline-block; line-height: 1.25em; border-left: 1px solid rgb(170, 170, 170); padding: 0px 0.5em; zoom: 1;"><a href="https://en.wikipedia.org/wiki/Category:People_from_Orlando,_Florida" title="Category:People from Orlando, Florida" style="text-decoration: none; background: none;">People from Orlando, Florida</a></li><li style="margin: 0.125em 0px; display: inline-block; line-height: 1.25em; border-left: 1px solid rgb(170, 170, 170); padding: 0px 0.5em; zoom: 1;"><a href="https://en.wikipedia.org/wiki/Category:Supply-side_economists" title="Category:Supply-side economists" style="text-decoration: none; background: none;">Supply-side economists</a></li><li style="margin: 0.125em 0px; display: inline-block; line-height: 1.25em; border-left: 1px solid rgb(170, 170, 170); padding: 0px 0.5em; zoom: 1;"><a href="https://en.wikipedia.org/wiki/Category:United_States_Council_of_Economic_Advisers" title="Category:United States Council of Economic Advisers" style="text-decoration: none; background: none;">United States Council of Economic Advisers</a></li><li style="margin: 0.125em 0px; display: inline-block; line-height: 1.25em; border-left: 1px solid rgb(170, 170, 170); padding: 0px 0.5em; zoom: 1;"><a href="https://en.wikipedia.org/wiki/Category:University_of_Central_Florida_alumni" title="Category:University of Central Florida alumni" style="text-decoration: none; background: none;">University of Central Florida alumni</a></li></ul></div></div></div><div></div><h1 class="txttitle">FOCUS: Karma Is a Bitch</h1>

By Matt Taibbi, Rolling Stone

24 December 12

<img src="http://readersupportednews.org/images/stories/alphabet/rsn-K.jpg" border="0" />arma is a bitch. Just ask Glenn Hubbard.

A few months ago, the Dean of Columbia's business school was a leading economic advisor to Mitt Romney and a <a href="http://www.bloomberg.com/news/2012-10-25/hubbard-said-to-prefer-treasury-to-fed-if-romney-wins.html" target="_blank">rumored (perhaps even consensus) candidate</a> for the Treasury Secretary job.

Now Romney's out of the presidential picture and

Hubbard – well, he's just yet another grasping jobholder who's been

exposed as a paid mouthpiece in a court proceeding.

Anyone who's seen the movie Inside Job will recall the <a href="http://youtu.be/CaXNqGgIc-g" target="_blank">stupendously angering scene</a>

in which Hubbard pissily snaps at his interviewer for asking about his

outside relationships with the financial services industry.

<a href="http://www.rollingstone.com/politics/blogs/taibblog/www1.rollingstone.com/extras/Deposition-Transcript-of-Glenn-Hubbard.pdf" target="_blank">Transcript: Glenn Hubbard's Deposition</a>

In the movie, renowned filmmaker Charles Ferguson pointed out that, among other things, Hubbard had <a href="http://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&ved=0CDQQFjAA&url=http%3A%2F%2Fwww0.gsb.columbia.edu%2Ffaculty%2Fghubbard%2FArticles%2520for%2520Web%2520Site%2FHow%2520Capital%2520Markets%2520Enhance%2520Economic%2520Performance%2520and%2520Facilit.pdf&ei=ETrTUKD9JPGp0AHnmIDgAw&usg=AFQjCNHHlS2phVo_bTp99Rt5RMK3KDyalg&sig2=CMzpuTGBLYNuXEDDhzVxNQ&bvm=bv.1355534169,d.dmQ" target="_blank">co-authored a paper</a>

with former Goldman chief economist William Dudley in which he praised

credit derivatives as having improved the "allocation of risk" and

helped produce "enhanced stability." It was fair to ask how much

Goldman's "Global Markets Institute" had to pay one of the Ivy League's

leading minds to endorse the giant daisy chains of credit default swaps

and collateralized debt obligations that led to the crisis – it was

quite a coup, after all, like getting the Dean of Harvard Medical School

to pose in public smoking a pack of Kools.

Anyway, when asked if he did consulting work for big

banks, Hubbard refused to answer. And when asked if he just didn't

remember who was writing checks to him when he wasn't overseeing the

education of American youth, he fumed.

"This isn't a deposition, sir," he hissed. "I was polite enough to give you time, foolishly I now see. Give it your best shot."

Again, there's just nothing like karma. If your answer

to a perfectly sensible question is going to be, "Screw you, this isn't

a deposition," exactly how long do you think it'll be before you end up

actually getting deposed? And forced to answer, under oath, just how

much your opinions cost?

A couple of years, as it turns out.

Hidden among the reams of material recently filed in

connection with the lawsuit of monoline insurer MBIA against Bank of

America and Countrywide is a deposition of none other than Columbia

University's Glenn Hubbard. And boy, is it a wild deposition. It's like

Inside Job, only Hubbard has to answer the questions he doesn't want to

answer. Reading it is like watching a man try to avoid breathing in a

gas chamber.

At issue here is the fact that Hubbard testified on

behalf of Countrywide in the MBIA suit. He conducted an "analysis" that

essentially concluded that Countrywide's loans weren't any worse than

the loans produced by other mortgage originators, and that therefore the

monstrous losses that investors in those loans suffered were due to

other factors related to the economic crisis – and not caused by the

serial misrepresentations and fraud in Countrywide's underwriting.

In other words, the Dean of the Columbia University

business school testified that the fact that Countrywide claimed to have

conducted thorough due diligence when in fact it was pressuring

underwriters to <a href="http://www.mbia.com/investor/publications/062110_SecondAmendedComplaint.pdf" target="_blank">approve 60 to 70 mortgage applications a day</a>

and failing to verify any income levels or other key information (to

say nothing of the outright falsification of such data, which also went

on on a mass scale) – he testified that these issues were irrelevant.

Investors in Countrywide loans, he reported, in

specifically rebutting MBIA's claims of fraud, were probably victims of

macroeconomic factors, among other things the expansion of lending

guidelines by "the government-sponsored entities," i.e. Fannie and

Freddie. You know, that old saw.

So how much does it cost to get the Dean of Columbia

Business School to say that Countrywide customers weren't injured by

fraud? Well, MBIA's lawyer, Phillipe Selendy of Quinn Emmanuel, asked

Hubbard that very question:

Q. How are you being compensated?

A. I'm being compensated at an hourly rate for my work.

Q. Do you know your hourly rate?

A. Yes, it's $1200 an hour.

For comparison's sake, $1200 an hour is about what Natalia, the woman New York Magazine <a href="http://nymag.com/nymetro/nightlife/sex/features/12193/index5.html" target="_blank">called</a>

"America's #1 escort" in a famous profile many years ago, made early on

in her career working for Jason Itzler, the self-described "King of All

Pimps." It's not the top-end rate for the kind of Mercedes-class

prostitute you'd romp with from an outfit like the Emperors Club, but <a href="http://articles.latimes.com/2008/mar/14/opinion/oe-stein14" target="_blank">according to the L.A. Times</a>,

it's still more than you'd have to pay for the usual "vanilla sex" or

"Republican sex." Twelve hundred dollars an hour in America buys

high-end companionship that can run a little bit kinky, if that's where

your needs lay. And that's exactly what MBIA got with Hubbard's

research.

So how did Hubbard manage to analyze Countrywide and

conclude that mass fraud in its underwriting procedures wasn't

problematic? Easy: He didn't look at the underwriting! All Hubbard did

was take a group of Countrywide loans and compare them to a group of

other loans from the same time period.

When that comparison revealed that Countrywide's loans

failed at about the same rate as the non-Countrywide loans, he smartly

concluded that fraud wasn't the problem and that macroeconomic factors

must have been the cause.

Except for one thing: He left out the fact that about

half of the loans in the "non-Countrywide" pool he selected for his

analysis were originated by companies that were also being sued for

underwriting fraud and other irregularities. What Hubbard did is compare

a bunch of bad loans to a bunch of bad loans.

What's fascinating in the deposition is the way

Hubbard repeatedly tries to avoid answering the question about what kind

of research he did, or didn't do, in his Countrywide analysis. His

sneering annoyance shines through as brightly as it did in Inside Job,

but this time he couldn't just say, "You've got three more minutes."

Here, for instance, he actually tries to play dumb when asked if he

looked into Countrywide's origination practices:

Q. Did you make any inquiry into how Countrywide actually originated its loans?

A. I'm not sure exactly what you mean by that.

Hubbard here is just being intentionally obtuse: he's

trying to see how much of an appetite MBIA's lawyers have for fighting

through his dickishness. They press on:

Q. You understand there was a process by which Countrywide originated the loans that it included in the securitizations?

A. Yes.

Q. And there was also a process by which

Countrywide examined the loans that it purchased from other originators

inclusion in securitizations?

A. Correct

Q. Did you make any factual inquiry into the

nature of either the process of origination or the process of due

diligence by Countrywide?

A. I'm not an underwriter in this proceeding, so neither of the assignments that I told you would require such.

He knows it's a yes or no question, but he's letting them know they're going to have to beat it out of him:

Q. And it's fair to say that you gave your

opinions without any inquiry into how Countrywide actually originated

its loans or how Countrywide examined the characteristics of the loans

that it purchased from other originators, correct?

A. I'm not an underwriter. As an economist,

what I can do is look at the implications of the claims made by MBIA and

its experts.

Q. So is that a yes in response to my question?

A. You have to tell me the question again.

Yikes! If I was Selendy I would have pulled out the

sponge and the car battery at this point. Fortunately, the MBIA lawyer

is more mature, and went on calmly:

Q. It's a fairly simple question. You gave

your opinions without any inquiry into how Countrywide actually

originated its loans, correct?

A: I did not underwrite.

That's as close as they got to getting Hubbard to

admit that for $1200 an hour, he swore that Countrywide's underwriting

practices were irrelevant – without investigating Countrywide's

underwriting practices.

As for the question of how Hubbard managed to omit the

fact that the loans he compared Countrywide loans to also had

underwriting problems, there was this exchange:

Q. So in the aggregate, more than half of your entire population in the control group was affected by litigation?

A. I think, well, yes, by number of pools, yes.

Q. And in neither your initial report nor your rebuttal report did you disclose that fact for the benefit of the court?

A. Well I've already told you I didn't think it was relevant from my –

Q. I'm aware that's what you said today. But

the fact is in neither your initial report nor your rebuttal report did

you disclose that more than half of all the securitizations in your

so-called control group were affected by litigation?

A. If I don't think something is a relevant fact, why would I have disclosed that?

Q. You're agreeing with me, you didn't disclose it, right?

A. That's a factual question. You had innuendo attached to it.

Q. Well, sir, I do think it's significant that

you didn't disclose that fact, that's why it's in my question. I just

wanted to confirm you did not disclose that fact, right?

A. I didn't disclose the fact.

Hubbard must be a very inquisitive thinker. He took

$1200 an hour specifically to not learn how subprime loans were created.

Moreover, he did this non-learning for Countrywide years after the

financial collapse, long after the truth about that company had already

become common knowledge pretty much everywhere in the world outside

Hubbard's office, long after Countrywide CEO Angelo Mozilo had been <a href="http://www.sec.gov/news/press/2009/2009-129.htm" target="blank">charged by the SEC</a> with deliberately misleading investors (and insider trading, to boot), and long after the <a href="http://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&ved=0CDQQFjAA&url=http%3A%2F%2Fag.ca.gov%2Fcms_attachments%2Fpress%2Fpdfs%2Fn1582_draft_cwide_complaint2.pdf&ei=FTDTUPGvDuzK0AGU14GwBg&usg=AFQjCNEpIIGvwhKcTsIbqbmA9H67Fy2eFA&sig2=KQlyhMHHYSAkQyKEgLWQrw&bvm=bv.1355534169,d.dmQ" target="blank">Attorney General of California</a>

had concluded that Countrywide was essentially a giant scheme to use

mass fraud to dump pools of bad loans on unsuspecting marks on the

secondary market.

Given the great masses of information that was out

there about Countrywide, Hubbard in other words had to perform a labor

of Hercules to avoid letting the truth about the company slip through a

crack in his skull. Naturally, this awesome ability to non-absorb

information makes him qualified to be one of America's leading

academics. Way to go, American learning!

On a personal note, I'm bummed by this Hubbard news, because it ruins one of my favorite quotes of all time – <a href="http://www.quotationspage.com/quote/26969.html" target="_blank">Henry Kissinger saying</a> that "University politics are so vicious precisely because the stakes are so small."

That was always a fantastic joke, but now that Wall

Street is subsidizing the imperious academic administrators whose only

reward used to be blocking the careers of the more brilliant teachers

and professors they secretly envied, it doesn't work anymore.

Editor's note: The name of the lawyer taking the

deposition was Phillipe Selendy of Quinn Emmanuel, not David Freeburg.

Rolling Stone apologizes for the error. http://readersupportednews.org/opinion2/304-justice/15204-focus-karma-is-a-bitch matt t
==
<div class="headline">

        <h1 class="node-title"><font size="4" face="Times New Roman">Meet Romney's Economic Hitman</font></h1>
      </div>

              <div class="story-date"><font size="4" face="Times New Roman"><em>

October 19, 2012  |   </div>

<div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"> Mark

the name of R. Glenn Hubbard, the man who will make your life miserable

if Mitt Romney is elected president. Unless, that is, you happen to be

one of the swindlers who has profited mightily from the nation’s

economic pain. Hubbard is the ideological hit man instrumental in

justifying the mortgage derivatives bubble that caused the Great

Recession during the George W. Bush years. He now serves as Romney’s key

economic adviser and is the front-runner to be the next Treasury

secretary should the Republican win.“Romney’s Go-To Economist” read the headline on a New York Timesprofile

of the dean of Columbia University’s Business School, which notes that

“During a stint as chairman of the Council of Economic Advisers for

President George W. Bush, from 2001 to 2003, Mr. Hubbard was known as

the principal architect of the Bush tax cuts.” In that capacity, and

after returning to Columbia, Hubbard was also the chief cheerleader for a

runaway derivatives market that spiraled out of control and left the

Great Recession in its wake.While pocketing millions in fees from

the financial industry that he was ostensibly studying as a neutral

academic, Hubbard was an enthusiastic backer of the virtues of a

burgeoning unregulated capital market that sold toxic derivatives to the

world. In a landmark paper that he co-wrote in November 2004 with

William C. Dudley, at the time the chief U.S. economist at Goldman

Sachs, it was asserted, “The capital markets have helped facilitate a

major transformation of the U.S. mortgage financing system over the past

25 years. … The result has been a dramatic decline in the cyclical

volatility of housing activity.” Their study was published by the

Global Markets Institute of Goldman Sachs at the very time that

Goldman, a leader in the capital market, was packaging and selling some

of the toxic mortgage-based derivatives that would come close to

destroying the world’s economy.Hubbard’s article celebrated this

“revolution in housing finance (that) has led to a large increase in

mortgage equity withdrawal.” It extolled the madcap equity lending as

“one reason why consumer spending held up well during the 2001-2003

period, even as employment and investment spending faltered.” That’s

the housing bubble that was destined to pop and left the Bush and Obama

administrations running up huge deficits to contain the damage.

Hubbard’s co-author knows this well, for Dudley left Goldman in 2007 to

work for Timothy Geithner, then the head of the New York Fed that led

the charge to rescue Goldman and other banks in the aftermath of the

crisis they caused. As evidence of the bipartisan spirit informing the

banking bailout, when Geithner was appointed Obama’s Treasury secretary,

Dudley replaced him as president of the New York Fed.But this is

a crisis first enabled by the Bush administration’s policy of

mindlessly celebrating the mortgage industry’s wild irresponsibility. As

Hubbard and Dudley bragged: “The revolution in mortgage finance has

increased the ability of households to purchase their own homes. The

closing costs associated with obtaining a residential mortgage have

fallen, and the terms (for example, the loan-to-value ratio) have become

less stringent. At times homeowners can obtain 100 percent financing to

purchase a home.” This is the mortgage bankers’ equivalent of

“The Anarchist Cookbook”—a recipe for disaster. The 100 percent loan

meant that the homeowner was not at risk, nor was the investment firm

that initiated the mortgage because it packaged it, along with other

irresponsible loans, into securities sold to unwitting buyers.In

the paper published by Goldman, the authors take issue with Warren

Buffett who as early as 2002 had warned that these “derivatives are

financial weapons of mass destruction, carrying dangers that, while now

latent, are potentially lethal.” Buffett argued that "… huge–scale

frauds and near frauds have been facilitated by derivatives trades.” Not

so, said Hubbard and Dudley, siding with then-Fed Chairman Alan

Greenspan. “This use of derivatives leads to improved economic

performance,” they wrote, insisting, “The capital markets have also

acted to reduce the volatility of the economy. Recessions are less

frequent and milder when they occur.”Hubbard, who testified as an

expert witness on behalf of two Bear Stearns hedge fund managers in an

investment fraud case, is a frequent recipient of financial industry

largess in the form of consulting and research fees. Last year, he was

paid $785,000 for serving on three corporate boards and has been

handsomely rewarded as a consultant to Freddie Mac, Bank of America,

JPMorgan Chase and Goldman Sachs. He was paid $420,000 for supporting

Fidelity in just one court case.In the second presidential

debate, Romney sought to distance himself from the Bush administration,

ever so slightly. But it is Hubbard, a prime architect of the Bush

strategy of unfettering Wall Street greed, to whom the Republican

nominee turned to co-write “The Romney Program for Economic Recovery,

Growth and Jobs.”That plan not only extends the Bush tax cuts for

the super rich, but it would repeal the mild Dodd-Frank legislation

holding Wall Street a bit more accountable. If Romney wins, it will be

Bush reincarnated, and Hubbard’s ideology, a proven failure, will

prevail.  </div></div></div>

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</h1><h1 class="title-blog">=
</h1><h1 class="title-blog">
</h1><h1 class="title-blog">The Sellout of the Ivory Tower, and the Crash of 2008 (Excerpt)</h1>

<div class="blog_padding relative" style=" padding-top: 15px;">Posted: 05/22/2012 8:33 am <a href="http://www.huffingtonpost.com/charles-ferguson/academic-corruption_b_1532944.html?view=print&comm_ref=false" rel="nofollow" class="absolute print-link" /></div><a href="http://www.huffingtonpost.com/charles-ferguson/academic-corruption_b_1532944.html?view=print&comm_ref=false" rel="nofollow" class="absolute print-link">

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</a><a href="http://www.huffingtonpost.com/charles-ferguson/academic-corruption_b_1532944.html?view=print&comm_ref=false" rel="nofollow" class="absolute print-link">Re-printed from </a><a href="http://www.amazon.com/Predator-Nation-Corporate-Criminals-Corruption/dp/030795255X" target="_hplink">Predator Nation: Corporate Criminals, Political Corruption, and the Hijacking of America</a>; Copyright © 2012 by Charles Ferguson. Published by Crown Business, a division of Random House, Inc.

</center>

Many people who saw my documentary film about the 2008 economic crisis, Inside Job, found that the most surprising, and disturbing, portion of the film was its revelation of widespread conflicts of interest in universities, think tanks, and among prominent academic experts on finance, economics, business, and government regulation. Viewers who watched my interviews with eminent professors were stunned at what came out of their mouths.

Over the last thirty years, in parallel with deregulation and the rising power of money in American politics, significant portions of American academia have deteriorated into "pay to play" activities. These days, if you see a famous economics professor testify in Congress, appear on television news, testify in a legal case or regulatory proceeding, give a speech, or write an opinion article in the New York Times (or the Financial Times, the Wall Street Journal, or anywhere else), there is a high probability that he or she is being paid by someone with a big stake in what's being debated. Most of the time, these professors do not disclose these conflicts of interest, and most of the time their universities look the other way. Increasingly, professors are also paid to testify for defendants in fraud trials, both civil and criminal. The pay is high -- sometimes a quarter of a million dollars for an hour of congressional testimony. But for banks and other highly regulated industries, it's a trivial expense, a billion or two a year that they barely notice; and just as with politicians, it's a very good investment, with very high benefits.

Academics on industry payrolls are now so numerous and powerful that they can often prevent universities, professional associations, and academic journals from adopting or enforcing strong conflict-of-interest policies. They also have a chilling, even dominant, effect on several areas of academic research and policy analysis.

The sale of academic "expertise" for the purpose of influencing government policy, the courts, and public opinion is now a multibillion-dollar business. Academic, legal, regulatory, and policy consulting in economics, finance, and regulation is dominated by a half dozen consulting firms, several speakers' bureaus, and various industry lobbying groups that maintain large networks of academics for hire specifically for the purpose of advocating industry interests in policy and regulatory debates.

These consulting firms are not like McKinsey or the Boston Consulting Group. They do not exist to help companies make better products or operate efficiently. Their principal focus is on helping companies avoid or influence legislation, public debate, regulation, prosecution, class-action lawsuits, antitrust judgments, and taxes.

The largest academic regulatory consulting firms are the Berkeley Research Group, the Analysis Group, the Brattle Group, Criterion, Compass Lexecon, and Charles River Associates. All have relationships with many prominent academics. Their combined academic roster is around one thousand, and their combined revenues are certainly well over $1 billion per year. (Most are private and don't release revenue information.) In some cases, they include a majority of the prominent academics in important policy-related fields, such as antitrust policy and the economics of regulation.

But how important and influential are these people and their relationships? Let's take two examples, one Republican and one Democratic: Glenn Hubbard and Larry Summers.

R. Glenn Hubbard became dean of Columbia Business School in 2004, shortly after leaving the George W. Bush administration, where he was chairman of the White House Council of Economic Advisers from 2001 through 2003. Hubbard has a PhD from Harvard and has taught at Columbia since 1988. Hubbard is co-chairman of the Committee on Capital Markets Regulation, a nonprofit organization that serves as a de facto public policy lobbying organization for Wall Street.

Much of Hubbard's academic work has been focused on tax policy. A fair summary is that he has never seen a tax he would like, particularly one on corporations or the wealthy. He was deeply involved in designing the Bush administration's tax cuts in 2003, which heavily favored the wealthy; half of their benefits went to the wealthiest 1 percent of the population.

Hubbard also coauthored an astonishing article with William C. Dudley in November 2004. The <a href="http://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&ved=0CE0QFjAA&url=http%3A%2F%2Fwww0.gsb.columbia.edu%2Ffaculty%2Fghubbard%2FArticles%2520for%2520Web%2520Site%2FHow%2520Capital%2520Markets%2520Enhance%2520Economic%2520Performance%2520and%2520Facilit.pdf&ei=eVS6T8qlKJCRgQeh8fWBCQ&usg=AFQjCNHHlS2phVo_bTp99Rt5RMK3KDyalg&sig2=9664MkI8aTChJWU_jWn0-Q" target="_hplink">article</a>, entitled "How Capital Markets Enhance Economic Performance and Facilitate Job Creation," was published by the Goldman Sachs Global Markets Institute. Dudley, his coauthor, was the chief economist at Goldman Sachs at the time. In 2009, when Tim Geithner became Obama's treasury secretary, Dudley succeeded Geithner as president of the Federal Reserve Bank of New York; he's still there. This should not reassure you. But neither should the fact that Glenn Hubbard remains dean of Columbia Business School.

Their article would be kind of funny, if it weren't deadly serious. Remember, this is November 2004, with the bubble well under way.

<ul>

<li class="first">"The ascendancy of the US capital markets . . . has improved the allocation of capital and risk throughout the US economy. . . . [The benefits include] enhanced stability of the US banking system . . .more jobs and higher wages . . . less frequent and milder [recessions] . . . a revolution in housing finance."</li>

</li><li>"The capital markets have helped make the housing market less volatile. . . . 'Credit crunches' of the sort that periodically shut off the supply of funds to home buyers, and crushed the homebuilding industry . . . are a thing of the past."</li>

</li>

<li>"The revolution in housing finance has also led to another radical transformation that has been important in making the economy less cyclical."</li>

</li>

<li class="last">"We believe that the economic performance of the United States over the past decade provides strong evidence of the benefits of well-developed capital markets."</li>

</ul>

Hubbard refused to say whether he was paid to write the article. He also refused to provide me with his 2001 federal financial disclosure form (from when he entered the George W. Bush administration), which we could not obtain otherwise, because the White House had already destroyed it. Hubbard also refused to identify most of his private consulting clients.

He is currently on the boards of MetLife, ADP, Inc., KKR Financial Corporation, and BlackRock Closed End Funds. In 2010, the first three paid him $707,000 in cash and stock. Consulting/advisory relationships listed on Hubbard's CV include Nomura Holdings, Bank of America, Capital Research, Citigroup, Fidelity,

Franklin Resources, JPMorgan Chase, Visa, Laurus Funds, Chart Venture Partners, and Ripplewood Holdings. Until January 2009, he was also on the board of Capmark, a major player in commercial real estate during the bubble that went bankrupt after the crisis.

Hubbard was paid $100,000 to testify for the criminal defense of two Bear Stearns hedge fund managers prosecuted in connection with the bubble, who were acquitted. That assignment came through the Analysis Group, one of the large economic consulting firms mentioned earlier. Hubbard's Columbia web page lists the Analysis Group as a consulting client but does not list the ultimate, real clients for whom he worked via this relationship. Nor does his Columbia web page list his paid speaking engagements. However, satisfied clients giving public testimonials to Hubbard's speaking abilities include the Alternative Investment Group, BNP Paribas, the Massachusetts Bankers' Association, and Barclays Bank.

In 2011, Hubbard became a senior economic advisor to Mitt Romney's presidential campaign.

Larry Summers, who is undeniably brilliant, became a full professor at Harvard at a very young age and by now has held almost every important government position in economics. After being chief economist of the World Bank, he became, successively, undersecretary of the treasury for international affairs, deputy treasury secretary, and finally treasury secretary in the Clinton administration. He then became president of Harvard, his candidacy championed by Robert Rubin, until Summers was forced out in 2006. In 2009 he became director of the National Economic Council in the Obama administration; he returned to Harvard in 2011 as a professor at the John F. Kennedy School of Government.

At the World Bank, Summers authorized a memo suggesting that wealthy nations should export pollution to the poor; when president of Harvard, he suggested that women might be innately inferior to men in scientific reasoning. Then there were his policy choices: remaining entirely silent about the abuses within investment banking that furthered the Internet bubble; working with Robert Rubin and Alan Greenspan to repeal the Glass-Steagall Act and then to ban regulation of all privately traded derivatives.

When Summers became president of Harvard, he also started consulting to, and making speeches for, financial services firms. Because Harvard, along with most other major universities, does not require its faculty (or its presidents) to disclose outside income, we do not know how much Summers made. Even now, his Harvard Web page lists none of his consulting clients or speaking engagements.

Most of our information about his outside activities at Harvard comes from his mandatory federal disclosure form. (Like Summers himself, Harvard's president and provost declined to be interviewed for my film and also declined to respond to written questions.) Shortly after he was forced to resign as president and returned to being a professor, Summers agreed to work one day a week at D. E. Shaw, a large hedge fund, which paid him over $5 million in the year before Summers entered the Obama administration in 2009.

Summers's 2009 federal disclosure form stated his net worth to be $17 million to $39 million. His total earnings in the year prior to joining the administration were $7,813,000. He made $1,729,000 from thirty-one speaking engagements, nearly all for financial services companies; Goldman Sachs paid him $135,000 for one speech. He was also paid $45,000 by Merrill Lynch for a speech on November 12, 2008 -- after Merrill had completely collapsed financially, and one week after Obama's election. After questions were raised, Summers donated the Merrill Lynch fee to charity.

In the Obama administration, Summers opposed strong measures to sanction bankers or curtail their income. He has never apologized for any of the decisions or statements he made between 1995 and 2006.

And as of early 2012, the web page on his speaking agent's website included testimonials about Summers from seven clients. All but one (Regent University) were financial; they included the Texas Pacific Group, the Chinese Finance Association, Charles River Ventures, and Institutional Investor magazine.

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