U.S. Treasury Secretary Robert Rubin announced his resignation today in Washington. Rubin will return to his home in New York, where he was a successful investment banker before joining the Clinton Administration in 1993.

The following are comments made by U.S. Senator Mike Enzi, R-Wyo., chairman of the International Trade and Finance Senate Banking Subcommittee. The Banking Committee plans to hold a hearing on Rubin's replacement in the near future. A date has not been set yet.

"As a member of the Senate Banking Committee I have had the pleasure of working with Secretary Rubin and the Treasury Department on issues ranging from IMF oversight to financial modernization.

"Secretary Rubin's experience in the private sector served him and the nation well during his tenure as Secretary. I compliment him for sacrificing this part of his life to serve the public. Citizen participation in government makes for better laws people can live with.

"This Administration has been plagued by scandal and credibility questions, but Secretary Rubin has shown himself as able and respectable. His leadership will be missed. I hope the new Secretary of the Treasury will be able to face the challenges of keeping the economic engine of this country moving as aptly."