He is the first ex-Potus or Potus I have ever heard mention the term, “derivatives”.
“I screwed up, too.” (applause from liberals)
By the time these financial instruments were seen as a potential for collapse the ‘shark infested blood in the water feeding frenzy’ prevented anyone from stepping in.
As Greenspan said, “Everyone thought they were smart enough to know when to get out.”
Everything in moderation. However, human nature rarely responds to a ‘good thing’ in moderation.
Exactly how is a President constitutionally empowered to regulate?
What a waste of my time this was to read. Clinton...I should have known better than to waste the time, BUT he in essence does (reading between the lines) confirm what I have posted in the past about derivatives to those whom seem focused on that as being the problem.
It wasn’t as Clinton intimates in this article. HE gave the wink and nod to the use of derivatives throughout his tenure. The derivatives however were a tool. The problem was, is lending to people whom couldn’t pay back the loans any way, shape, or form.
Leftist Government messing with the good sense practices (traditions) of the system for the sole purpose of accumulation of voters is the basis of the problem we face today.
Interesting that CDO’s have been mentioned more than usual the last few days.
Interesting how the economic downturn is often referred to in the past tense.
Prepare for a default in the synthetic derivative market, inversion of treasury bond rates and a simultaneous collapse of the dollar/equity markets.
Probable scenario by the 26th is S&P 650, US dollar index at 76 and gold at 1,044...
I don’t believe Slick Willy’s any sorrier for the damage he caused his country than he was about schtupping the help in the Oval Office.