Former President Bill Clinton said Monday he should not take any blame for the current financial crisis. Clinton’s comment came during an interview with Ann Curry on the Today Show.
Ann Curry: “You know, this week I’ve been reading this article in Time magazine that lists you as number thirteen as — on the list of who to blame for our current economic crisis in the United States. Should you be thirteen on the list, is what I’m asking.”
President Clinton: “Oh, no. Well, let me ask you this. And my question to them is, did any of them seriously believe if I had been president and my economic team had been in place the last eight years, that this would be happening today? And I think they know the answer to that’s wrong. No.”
Time magazine had criticized Clinton for repealing the Glass-Steagall Act, which for decades had separated commercial and investment banking, and for signing the Commodity Futures Modernization Act, which exempted from federal regulation all derivatives, including the now notorious credit-default swaps.