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

View all 203 →
I’d give my younger self the lessons I’ve learned over the years, sparing myself the need to figure everything out so publicly.
Recorded The Q&A, The Guardian, 15 February 2025 source ↗

More from Bill Clinton

View profile →
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 What thought won't let you sleep? Daily life
Now that’s what happens when people go crazy, where the only thing that matters is whose camp are you in, whose side are you on, what tribe do you belong to — where facts and discussions become irrelevant. And it made me wonder whether the way I was raised and all the listening and storytelling skills I learned as a boy would even be relevant today. They’d be good if you’re in. They’re still really important to getting anything done, but if you live in an environment where everything is a litmus test and everything is a-hundred-to-nothing, and the only thing that matters is feeding your resentment, and anger blinds you to answers, and being very sanctimonious somehow proves your sincerity and authenticity, it’s really hard to get anything done. It’s a whole new challenge now, and that’s why — and the Russians knew that. You know, that’s when they get in here and start fooling with all these politics. They realize you just sort of load it up because once people take sides based on what tribe they’re in then there’s no difference in facts and fiction. There’s no difference in truth and lies. It’s just, does this confirm what side you’re on? And you can’t run a democracy that way. It is utterly impossible to preserve democracy.
Recorded Academy of Achievement interview source ↗
Question Which problem are you still chipping away at? Craft & work
We have all these interesting challenges now. No one knows whether automation and robotics, nanotechnology, will kill more jobs than it creates. If it does, that presents a serious problem. What are we going to do? Have a few of us work to support everybody else, or shorten the workweek for everybody? If so, how do we get from here to there? No one knows yet how we’re going to stop cyber terrorism from wrecking honest discourse in democracy and maybe putting our very lives at risk.
Recorded Academy of Achievement interview source ↗
Question Which book reshaped how you think, and in what way? Taste & recommendation
Oh, yeah. I spent a lot of time in the public library. When we moved I was seven years old, and I got a library card, and I used to go to the library all the time, and I loved all the, you know, standard children’s novels. I love those Biblical epics, but my favorite books when I was a child were books about Native Americans: tribal leaders; Osceola, who brought the alphabet to the Seminoles; Chief Joseph of the Nez Perce; and the standard ones that were heroes in all the Western movies. But I was fascinated. The Cherokee had moved across my state on the Trail of Tears when they were expelled from the East and then moved over to the reservation lands. I became fascinated with what happened to the Native Americans and the struggle that many were undertaking then — and they still try to preserve their traditions and their way of life, their ties to the land, and still provide education and participate in the life of the country. I was interested in it then. I’m interested in it now. The Native Americans in our country who don’t have casinos on their tribal lands still have the lowest per capita income of any ethnic group in America. It’s a disgrace, and when I became president I was the first president since James Monroe in the 1820s to invite all the tribal leaders to the White House, and it was fascinating. Some of the ones who came from lands that had casinos flew in on their private jets. A lot of the others had to pass the hat in the reservation to raise enough money to pay for a plane ticket, and they all came, and we began to meet, and I learned a lot from them.
Recorded Academy of Achievement interview source ↗
Question What is the biggest professional obstacle you have faced? Craft & work
I do think my mother had a lot to do with that. I mean, after all, you know her — it was not near as bad as having your husband die in a car wreck after — he survives World War II. They had a great life planned, and he gets killed in a car wreck, not because of a concussion, but because in a fluke, the tire blows out on his car. He’s thrown out of the car. He lands in a ditch in a field, and the ditch is full of water, and he can’t get out of the ditch before he drowns. There’s — it made it look a little whiny for me to be all bent out of shape about losing an election, and I realized that it was a weird deal. It was 1980. It was Reagan’s election. It was a period not unlike now, widespread resentment over the stagnant economy, the Iran hostage crisis, and I bet I had a hundred people coming to — I’m not exaggerating — coming to me and saying, “God, Bill, I didn’t know you were going to lose. I just voted against you to because I didn’t like some of the things you’d done.” And I remember once — one of the funniest things that ever happened to me. I was driving over to see my mother. I lived in Little Rock, and she lived in Hot Springs 50 miles away, and in the middle of the trip was a little country store owned by a guy who ran the elections in that area and was real smart, so I went in to get a Coke, and started talking to him. And this little boy came up to me in overalls, and he said, “You’re Bill Clinton, aren’t you?” I said, “Yes.” He said, “I helped to beat you. I cost you 11 votes, and it was no accident.” I said, “You did?” He said, “Yeah.” He said, “It was me, my wife, our two boys and their wives, and five of my friends. We just decked you.” I said, “Why’d you do it?” He said, “I had to because you raised my car tax. The car license.” And so we’re standing on the interstate. I said, “Look over there. You remember when I was governor? That highway broke wide open, and even big trucks were off in the ditch, and I had to send the National Guard down here to clean it up, and we had to fix it.” He said, “Yeah, I remember. I don’t care. I still didn’t want to pay it.” So I was laughing at the guy, and I said, “Let me ask you something.” I said, “If I ever ran again, would you vote for me?” He said, “Absolutely.” I said, “You would?” He said, “Sure. We’re even now.” And I went — and there were no cell phones, so I had a dime. I went and put it in the payphone, and I called Hillary, and I said, “You know, I’m not dead yet. We might have to run again.
Recorded Academy of Achievement interview source ↗
Question What do you need to believe in order to get through an ordinary day? Values & belief
Yeah, there were a lot of brave people who stood up. Then, you know, it cost Martin Luther King and Medgar Evers and the three civil rights workers in Philadelphia, Mississippi, and Viola Liuzza and a lot of the others their lives, but they were on the right side of history, and they believed if they made this sacrifice that it would work out. And whenever I get discouraged about everything they stood against rising up again, I realize there just are no public, or permanent, victories. You have to keep fighting for freedom.
Recorded Academy of Achievement interview source ↗

More on failure & regret

Also answered this

Jimmy Carter, Erin O'Connor, Ronnie Wood, Rosa Parks, Alex Lawther, Siri Hustvedt

Search the directory for somebody in particular.

Explore further

Report this answer