(Fmr US Treas. Sec) Rubin Says Markets Have Entered `Uncharted Waters'

Rubin Says Financial Markets Have Entered `Uncharted Waters'

By Matthew Benjamin

March 14 (Bloomberg) -- Former U.S. Treasury Secretary Robert Rubin said financial markets are in ``uncharted waters'' and the government may need to take ``substantial additional action'' to help homeowners.

``We are in somewhat uncharted waters,'' Rubin, chairman of Citigroup Inc.'s executive committee, said in a speech in Washington. ``The outlook for credit markets and the economy is uncertain'' and he called for ``substantial additional action in the mortgage area.''

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