You mean losing control of Congress to the Reps?
Yes, of course it wasn't good for his party but it was always all about Bill anyways. It gave him a scape goat for his own short comings and allowed him to position himself as “Conservative” Democrat. More importantly, the resulting grid lock allowed not to pursue large spending/debt increases and major policy changes his core constituency wanted (i.e. universal health care/further liberalization gays in the military).
Clinton certainly got a lot of mileage out of the OKC bombing, but it didn't equal the six years triangulating the Republican congress.