Wednesday, February 10, 2016

Pot - meet kettle

From Robert Reich

Yesterday [this post is a few days old - Bozo], Bill Clinton scolded Bernie Sanders for being part of the near-unanimous House vote in favor of the 2000 Commodity Futures Modernization Act, which removed derivative transactions from oversight of the Commodity Futures Trading Commission – and contributed to the financial crisis of 2008. Clinton charged that “her opponent, a champion of all things small, an enemy of all things big, voted for that bill. But you will never hear her say that he is the tool of Wall Street because of that."

Bill Clinton neglected to mention he was the president who signed that bill into law. And before he signed it, his Treasury Secretary and Deputy Treasury Secretary (Bob Rubin and Larry Summers) privately and publicly attacked those who sought to regulate derivatives, including Brooksley Born, then chair of the Commodity Futures Trading Commission.

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