Georgiou presses Rubin on innocence in financial crisis

Byron Georgiou, a panelist on the Financial Crisis Inquiry Commission, questioned former Citigroup executive Robert Rubin on how he did not know the financial meltdown was imminent when a year before the crisis hit his bank was unable to sell $43 billion in toxic assets. 

Rubin said the risks were considered small because the assets were expected to rebound in value.

Georgiou countered, asking why these assets were eventually taken off the bank's balance sheets and essentially hidden from investors.  

Rubin admitted the question was a good one, but didn't seem to answer it. 

In opening remarks, Rubin said he did not have a broad enough view of the market to see the financial crisis coming.