Why Hillary Can’t Escape the Clinton Economic Record

time ^ | 1-18-2016 | Rana Foroohar

[Citizen Zed]

The problem is that much of that growth was a sugar high that came from allowing a consumer credit bubble that began in the 1980s to continue growing, the passing of rules that made it easier for the markets to be hiked up via stock buybacks, as well as deregulation including the repeal of 1930s-era Glass-Steagall and passing of the Commodity Futures Modernization Act (CFMA). That law, in one fell swoop, exempted financial derivatives traded over the counter or off regulated exchanges from CFTC or SEC oversight; it was a big part of what led to the subprime meltdown of 2008.

That legacy is now becoming a bigger part of the 2016 conversation. We've already seen Clinton debate Bernie Sanders over the merits of Glass-Steagall (he says it should be brought back; she doesn't), and sound off on share buybacks. But now, the fight has turned to the legacy of the CFMA, which was passed under her husband's administration and supported by economic advisors like Bob Rubin and Larry Summers. In a richly ironic move, Clinton's camp has attacked Sanders for backing the bill, which was certainly one of the worst economic legacies of the Clinton administration.

[Citizen Zed]

What cabinet position will Bill Clinton get?

[Dilbert San Diego]

What the heck is Bill going to do in the White House with no official duties????

[Daveinyork]

Any economic growth in the Clinton administration happened after the Republicans took control of Congress, and after Clinton stopped fighting them.