Bill Clinton suggests a creative way to fund an infrastructure bank

Posted by mmcmullan on 11/12/2013

Former President Bill Clinton stays busy these days, whether it be by bulldogging Republicans in the midst of a presidential campaign, expounding upon golfing, or gushing over the sock choices of former political adversaries.

An interesting man, that President Clinton, yessir. Yesterday, he said something particularly interesting. Here’s the quote from Bloomberg’s Elizabeth Dexheimer:

Former President Bill Clinton told some of Wall Street’s top executives that fines levied against banks in connection with the financial crisis should be used to fund infrastructure improvements in the U.S.

’Where’s that fine money going?’ Clinton, 67, said yesterday in a speech at the annual meeting of the Securities Industry & Financial Markets Association in New York. ‘It should be put into an infrastructure bank to build a new American economy.’

Emphasis added, because that’s not a half-bad idea! A bill that would create such a bank is sitting up on Capitol Hill, though it doesn’t include Clinton’s creative funding source. Maybe somebody should dust off the proposal?

Read the Bloomberg story here.

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