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The question

If you could revise one chapter of your past, what would you change?

Originally asked

The Guardian, to a different person each week, The Q&A

Repeated verbatim in The Guardian's long-running Saturday Q&A; two publisher-hosted examples establish recurrence.

You answer as yourself. Nobody on FLAPSS answers as anybody else.

Bill Clinton

42nd President of the United States, 1993–2001

Recorded said elsewhere, not written here
There was another bill that I think did make a contribution to the crash that I wish I had vetoed for symbolic reasons. They would have overturned my veto. And that was a bill that allowed banks to engage in all these derivatives, like collateralized debt obligations, without sufficient collateral. Now, it passed overwhelmingly. Almost every Democrat voted for it, and we all wanted it because it reauthorized something I’ll call the Community Reinvestment Act. The Community Reinvestment Act, if the government enforces it, requires every bank in America to reinvest some money where they take deposits. And we’ve got 800 billion dollars of investment under it when I was president. Ninety-six percent of all the money that had ever been invested under it, going back to the 1970s, was in those eight years. See, it was a goldmine of broad-based prosperity, and I wanted it badly, and a lot of other Democrats did, and we voted for it, but it would have been overridden, the veto. And I wish I had vetoed it because I never believed — I had a big argument with Alan Greenspan. He said, “But these things only affect investors with 100 million dollars or more. They can take care of themselves.” I said, “Yeah, I don’t care if they lose 100 million, but you don’t understand. If 100 of them lose 100 million, or 1,000 of them lose 100 million, it can wreck the whole rest of the economy,” which is essentially what happened in the housing crisis. So I wish — it would have become law anyway. I wish I had vetoed that and sounded the alarm.

Academy of Achievement interview source ↗

Others on this question

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Mark Gatiss British actor and writer
I was a very lazy child, but I think I’ve made up for it by being a workaholic. I might push some of the work back to my childhood.
Recorded The Guardian, The Q&A, The Guardian, 6 February 2016 source ↗

More from Bill Clinton

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Question What does everyone in your world seem to agree on that you think is wrong? Values & belief
If I had to make the welfare decision again tomorrow, I’d sign it again tomorrow. We had a 60 percent reduction in the welfare rolls. We had an enormous percentage of poor people move into the workforce, start middle-class lifestyles, and when we had a brief tech recession of six months in 2001, after I left office, people who had moved from welfare to work were less likely to be laid off than the general working population. So I would do it again.
Recorded Academy of Achievement interview source ↗
Question Which trait in yourself do you like least? Identity & self
I thought that I had lost for a reason, and I thought that I was a little unseasoned and immature, and I had — the way I made decisions my first term, I got a lot done, but I was better at doing what I wanted to do than listening to other people about what they thought I should be doing or how they thought I ought to be doing it.
Recorded Academy of Achievement interview source ↗
Question What are you best at that nobody watching would notice? Craft & work
Well, it wasn’t a game to me. We were taught, interestingly enough, given the current state of political affairs, that you should try not to hate anyone, that hatred was a sickness and a weakness, and that there were very few people who were completely evil, so you should go out of your way to figure out what makes them tick and see if you can find some way to communicate with them. I learned that more with my family — even before I was old enough to know what I was doing —when I was eating meals, my grandmother’s brother and his family had — they had four kids, and they always fed a lot of people, and we ate there a lot, and they would talk about whatever had happened that week. And the kids could talk, but they had to prove they could listen first, so before I could tell a story I had to recount what I had just heard, because if you weren’t listening, nobody wanted to listen to you. And it was like a primer in human nature, and I was fortunate in having people all along the way who tried to help explain other people to me, and I developed an obsessive interest in doing it.
Recorded Academy of Achievement interview source ↗
Question What lesson has mattered most in your life? Time & hindsight
Now, what did I learn from it? I learned that there were people, mostly in the other party, who believe in free trade but didn’t really believe in doing anything for people who lost jobs. That is, every trade deal produces winners and losers, so this was going to work for us in a lot of ways because the Mexicans had much higher tariffs than we did. And because, if you’re a wealthy country, the jobs trade creates pay above the average wage, and often the jobs that are lost pay below. But it’s always assumed that all those people will be retrained and that there will be incentives to invest within driving distance of where they live to create new jobs. And we lost the Congress in ‘94, and I couldn’t get the money, and there was no interest in it until my last year as president when we passed something called the New Markets Initiative. So if I had it to do again, I’d get the money on the front end, and I’d say, “No, no, no, no. I need more money to help the people who will lose the jobs.” I just assumed, I think probably because I had — the Congress was the majority of our party, and also because the people that were for NAFTA, I couldn’t imagine that they wouldn’t want to help the people that wouldn’t be winners.
Recorded Academy of Achievement interview source ↗
Question What is one of the best investments you have made — of money, time, or energy? Money & investment
My job was basically to be a delivery boy for all kinds of things, but they also — because I was at Georgetown and studying international affairs, I was assigned to read six newspapers a day and clip the most relevant articles. This is the technology we used. You couldn’t scan articles. There was no “online.” There was nothing, right? So I would read the newspapers, clip the articles I thought they ought to read, put them on a routing slip, which had on it the names of the senior staff of the committee and all the senators who were committee members. And I would send it to the senior staff, and they would decide whether to send any of them on, but I don’t think I’d have won a Rhodes Scholarship if I hadn’t been a clerk on the Foreign Relations Committee. Nobody else I was competing with read six newspapers a day, and they actually paid me good money to read The Washington Post, The New York Times, The Washington Star, which existed then, The Baltimore Sun , The St. Louis Post Dispatch , and then we alternated — and — oh, and The Wall Street Journal . We read them every day. Those were the six papers we read. I did, and then that’s what the senators got.
Recorded Academy of Achievement interview source ↗

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