Robert Scheer: Role of Bill Clinton and Bob Rubin in Deregulation of Derivatives Markets

Does Bill Clinton still not grasp that the current economic crisis is in large measure his legacy? Obviously that’s the case, or he wouldn’t have had the temerity to write a 14-point memo for Newsweek on how to fix the economy that never once refers to the home mortgage collapse and other manifestations of Wall Street greed that he enabled as president....

In his memoir Clinton pays tribute to Rubin as “the best and most important treasury secretary since Alexander Hamilton.” He wrote that line in 2004, when Rubin, who had come to Clinton from a top job at Goldman Sachs and later left for Citigroup, was already clearly defined as someone who profited mightily from the very bills that he had pushed through while working for Clinton.

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