Should have better regulated derivatives

iVillage Member
Registered: 03-18-2000
Should have better regulated derivatives
3
Mon, 02-16-2009 - 1:46pm

Bill Clinton: I should have better regulated derivatives


See link..


http://www.cnn.com/2009/POLITICS/02/16/bill.clinton.qanda/


>"Former President Bill Clinton: I think that the only thing that our administration did or didn't do that we should have done is to try to set in motion some more formal regulation of the derivatives market. They're wrong in saying that the elimination of the Glass-Steagall division between banks and investment banks contributed to this. Investment banks were already...banks were already doing investment business and investment companies were already in the banking business. The bill I signed actually at least puts some standards there. And if you look at the evidence of the banks that have gotten in trouble, the ones that were most directly involved in there ... in a diversified portfolio tended to do better.


Some of the conservatives said that I was responsible because I enforced the Community Reinvestment Act, and they said that's what made all these subprime mortgages be issued. That's also false. The community banks, the people that loan their money in the community instead of buying these esoteric securities, they're doing quite well. "<

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iVillage Member
Registered: 01-14-2008
Wed, 02-18-2009 - 8:30pm
Of course Bill says it wasn't his fault.
iVillage Member
Registered: 01-25-2009
Wed, 02-18-2009 - 9:33pm
LOL, he didn't the traditional way. Some men really only think they have had sex if they put the hot dog in the roll. LOL
iVillage Member
Registered: 01-04-2009
Thu, 02-19-2009 - 12:21am
20/20 hindsight ... too bad he didn't have foresight.