Clinton Agrees about Goldman

Former President Bill Clinton, not Hillary, that is. I mention this only because it was unexpected. First, I didn't expect to see Bill in the press commenting about Goldman; second because I would have guessed he'd spin it somehow on account of his links to the Administration's tough stance. Rather, here is what Bill had to say in a CNBC interview:

"base on what I read in the press about the--of Goldman and the CEO, it didn't seem to me that that was illegal, what they did."

"If we don't think it's advisable for people to be gambling one step removed on derivatives because it adds to the instability inthe marketplace, then there are plenty of ways to deal with that without claiming that it's illegal."

"...what we ought to do is have an honest conversation about what really happened, how to fix it, and how to get what's best about vital capital markets...I think to lower lower the rhetoric and talk about the facts, that's how we ought to deal with this."

Well, that was more or less my sentiment about SEC vs. Goldman. Even Slick Willie haters have to admit he can be pretty darn pragmatic sometimes. Regardless, unless a scandal is involved, I doubt anyone will pay attention to Bill's advice.