Ex-Pres. Pens New Tome

I voted for Bill Clinton twice, the second time somewhat reluctantly because of his support for NAFTA. And while he may be a likeable fellow, his actions as president did great harm to the country.

Official White House photo of President Bill C...

Always liked the guy. And no one can say he wasn't faithful to his wife and many mistresses. Image via Wikipedia

He’s published another book, his third. I haven’t read it yet but reviews indicate that his latest effort focuses on the country’s economic problems.

Whatever his solutions may be, Bill Clinton can’t ignore his own contributions to the mess the economy is in today.

He appointed two of the worst secretaries of the Treasury in the country’s history – Robert Rubin and Larry Summers – both of whom were compulsive deregulationists.

He signed off on two of the worst pieces of legislation ever to befall the country: The Financial Services Modernization Act (also known by the names of its Republican sponsors, the notorious Phil Gramm and fellow Republican extremists in the House Jim Leach and Tom Bliley). And he signed into law the now infamous Commodity Futures Modernization Act. Taken together, these two laws led directly to the massive abuses by the financial industry and were a leading cause of the meltdown.

In addition, he foolishly reappointed Alan Greenspan, a Republican, to the Fed Chair at a time when a Democrat might have brought a more disciplined approach to Fed policy.

He, and his DLC companions, convulsed the Democratic party, turning it away from the common men and women who have supported it for decades and transforming into the corporate toady that it is today.

And last but not least there is the NAFTA disaster, a pact which he should have vetoed. Barring that action, he could have insisted on revisions to make the agreement more favorably disposed to the needs of working people.

For these blunders, Clinton must answer to history.

***

The Nobella Prize Committee has just announced the nominees for its newest award: The Shit Eatingest Grin of the Decade.

And the nominees are 1) Phil Gramm; 2) Alan Greenspan; 3) Robert Rubin; 4) Lawrence Summers; 5) And some Chinese guy.

For the first time in its history the Nobella Committee is permitting public voting. You can cast your vote below.

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Rubin-greenspan-rongji

Image via Wikipedia

White House portrait of Lawrence Summers.

Image via Wikipedia

http://bioguide.congress.gov/bioguide/photo/G/...

Image via Wikipedia

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