Former president Clinton apologized for the financial crisis triggered by the US

Tuesday, March 29th 2011 - 04:50 UTC

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Former US president Bill Clinton apologized for the international financial crisis which triggered by the United States in 2008 and rapidly extended to the rest of the world. Read full article

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GeoffWard
This is a seminal moment - when a USA ex-president admitted his country's responsibility for the World Financial Crisis (OK, that's a bit simplistic).
Even so, governments around the world were warned time and time again, and over a number of preceding years, that this would end in tears and that things should be put in place to ride-out or side-step the catastrophe.

Those governments that continued to spend on credit and who prefered to not husband their resources in anticipation of the bad time are those who have suffered most. Some, like China, have the economic resilience to pull through, others - perhaps including the UK - will not do so.

Yes, the USA and its sub-prime strategy has a lot to answer for - but so do those government around the world that were in collective denial and did ABSOLUTELY NOTHING.
Mar 29th, 2011 - 11:30 am - Link - Report abuse 0
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briton
Well done fred, sadly its to little to late,
still its the thought that counts heh
Mar 29th, 2011 - 12:19 pm - Link - Report abuse 0
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Martin_Fierro
oops...

http://www.flickr.com/photos/61199179@N06/5571670080/sizes/l/
Mar 29th, 2011 - 05:01 pm - Link - Report abuse 0
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mastershakejb
The US sends Clinton down to chastise Brazil for installing a hydroelectric dam.......after the US sparked the world recession and countless wars.
If he really cared, which he doesn't, he could have found more noble things to fight about in his own country.
Mar 29th, 2011 - 06:24 pm - Link - Report abuse 0
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GeoffWard
Oh, Mr Shakejb,
I'm pretty sure we can actually count the wars - after all, they haven't been around for very long.
Now, Spain, England, Rome, China . . .that's another matter altogether!

As for the Brasilian hydroelectric schemes - I'm all in favour.
And if the world wants a quid pro quo from Brasil, then let the Presidenta or the appropriate State Governor re- appropriate sufficient land from the coronels, etc, that illegally cleared it for cattle ranching . . . . and return this land to forest. Exactly the same area returned to forest as is lost in the hydroelectric development and inundation.

There is a beautiful symmetry about this suggestion :-)
Mar 29th, 2011 - 07:49 pm - Link - Report abuse 0
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Fido Dido
aahh Billy Clinton, forget about the monica blowinsky scandal, but he gave the people of the United States and the world TWO great gifts..NAFTA and allowing China into the WTO.

I still remember the day when the first Coca Cola proudly entered the China from Hong Kong and that was suppose to be a sort conquering of the Chinese market. Well, look today who conquered the US of A (If you don't count the bankers).

NAFTA winners: lawyers, lobbiest and big business
NAFTA losers: small business and workers (except who works for Mcdonalds and Burger King (BK is now in private Brazilian hands..lol) and let's not forget the poor mexican small farmers..who left to el norte and are now the illegal immigrants what will be a hot but wishy washy discussion again when there are elections.
Apr 01st, 2011 - 09:54 pm - Link - Report abuse 0
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