There is a lot to unpack, but here is one example. He holds out AIG as a world-leader to be emulated. In the same year he gave that talk, he attacked CFTC cha

There is a lot to unpack, but here is one example. He holds out AIG as a world-leader to be emulated. In the same year he gave that talk, he attacked CFTC chair Brooksley Born when she proposed margin rules for OTC swaps. She made this proposal in the aftermath of the LTCM collapse. Summers/Greenspan/Rubin said that banks were so "sophisticated" that they didn't need margin rules, and that these rules would somehow cause a financial crisis. Ten years later, AIG almost collapsed because it had a division making massive directional bets on credit markets using un-margined swaps. Were it not for a $200bn loan from the public, AIG would have collapsed.