April 18 (Bloomberg) — 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.
The argument was that derivatives didn’t need transparency because they were “expensive and sophisticated and only a handful of people would buy them,” Clinton said on ABC’s “This Week” program. “The flaw in this argument was that first of all, sometimes people with a lot of money make stupid decisions and make it without transparency.”
Then I wuz double-punked by W’s lax regulators.
I wuz also punked by NATO on Yugoslavia, punked by Madeleine Albright on Iraq sanctions, punked by the fucking French on Rwanda, punked by an earthquake in Haiti….