[1] Prior to attending law school, Krebs was an officer in the United States Marine Corps serving in Vietnam as a platoon commander, where he was twice decorated for heroism and meritorious service (Bronze Star[2] with Combat "V", the Navy Commendation Medal with Combat "V" and the Purple Heart Medal).
In 1978, together with the Honorable Robert Morgenthau, the District Attorney for the County of New York, Krebs founded the Leviticus Project, a six-state, sixteen agency task force organized to investigate and prosecute crime in the coal industry.
[6] In 1980 and 1981 at the request of the then director of the SEC's Division of Enforcement, Judge Stanley Sporkin, Krebs was selected to be a member of the United States delegation to the World Securities Conferences.
In 1986, Krebs taught "Securities Regulation" as an Adjunct Lecturer at the Cumberland School of Law of Samford University in Birmingham, Alabama.
[8] Krebs was appointed by Senator Spencer Bachus to serve as senior counsel to the House Financial Services Committee.