"Former President Bill Clinton said he should have pushed for regulation of financial derivatives when he was president, rejecting the advice of top economic advisers Robert Rubin and Larry Summers."Here's the link: BILL CLINTON PROUDLY PASSES THE BUCK.
Before we forget history, let's recall the President Bill Clinton signed into the law the legislation that removed Glass-Steagall. This was THE ACT of Government that fostered and allowed the banking system to completely spin out of control with fraud, corruption and grand theft of this country's wealth by a handful of bankers and the politicians they purchased, INCULDING BILL CLINTON.
The collapse of the banking system in September 2008 rests squarely on Clinton's signature in 1999 and his policies with regard to financial regulation. To be sure, the Bush Administration further enabled the financial devastation created by the Clinton Administration. And the Obama Administration has pressed the accelerator thru the floorboard.
Currently the Obama Cabinet/Administration has several of the people who worked for Bill Clinton. This includes Larry Summers - Obama's chief economic policy guru; Tim Geithner - serial tax dodger; SEC Chief Mary Shapiro - who was head of the CFTC under Clinton and directly responsible for derailing derivatives legislation; and several of Robert Rubin's "mini-me's" who sit in "counsel" positions inside the Oval Office and under Tim Geithner.
If Clinton is willing to throw his own people under the bus - and many of those people are now Obama's people, what does that say about the policies and character of our current White House?