Rubin said, in the recent interview, that he had his own qualms about derivatives, going back to his days as a managing partner at Goldman Sachs. He later wrote in a 2003 book that "derivatives, with leverage limits that vary from little to none at all, should be subject to comprehensive and higher margin requirements," forcing dealers to put up more capital to back the swaps. "But that will almost surely not happen, absent a crisis."

Asked why he didn't suggest stricter capital requirements as an alternative in 1998, Rubin said, "There was no political reality of getting it done. We were so caught up with other issues that were so pressing. . . . the Asian financial crisis, the Brazilian financial crisis. We had a lot going on."

So, ya see, if there's no crisis, there's not a hope of getting done what needs to be done; but when there is one, there are so many other things to do, sigh...

There are lots of rapacious, greedy, shortsighted and amoral poor people and not all rich people are nasty.

MP3 will be posted later today.

Diversity is the key to economic and political evolution.

I agree.  And after the events of the past eight years, I can't decide whether it's comedy or tragedy that the best hope for real change in my country was denied because the message of change was coopted by people who want anything but.

I'm more than a little irritated about what's gone on here, and I can't help but think that in a few years the gig will be up, and the people like me who called this dog and pony show for what it is will be vindicated.

But we may all be in the soup line by the time that happens....

And I'll give my consent to any government that does not deny a man a living wage-Billy Bragg