During the Clinton administration, Rubin oversaw the loosening of financial industry underwriting guidelines which had been in place since the 1930s. His post-government role includes serving as director and senior counselor of Citigroup, where he performed advisory and representational roles for the firm. From November to December 2007, he served temporarily as chairman of Citigroup and resigned from the company on January 9, 2009. He received more than $126 million in cash and stock during his tenure at Citigroup, up through and including Citigroup's bailout by the U.S. Treasury.