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But if you look at WorldCom, which is the biggest failure to date, they grew dramatically, they were buying companies that were bigger than they were and they were doing it off inflated stock.

Clinton saw himself much more as the steward of alliances and of consensus that moved in the right direction. He didn't see himself as someone who could change the overall thrust, I think, of global policy.

It wasn't simply that Clinton created the greatest prosperity in the country's history. Or that we created 22 million new jobs, more than ever before. Under Clinton, poverty was reduced 25%.

Instead of saying that globalization is a fact, that it's inevitable, we've also got to demonstrate that while the growing interdependence of the world economy is indeed a fact, it's not uncontrollable.

We are supposed to believe that every dollar given to a Clinton is a dollar that improves the world. But is it? Clintonworld is a galaxy where personal enrichment and political advancement blend seamlessly, and where a cast of jarringly familiar characters pad their pockets every which way to Sunday.

This idea that the open exchange of information can have a positive global impact is being proven over and over again around the world nearly on a daily basis - and for Secretary Clinton to recognize that, I think, is a huge step.

Under Clinton, the defiance of world order has become so extreme as to be of concern even to hawkish policy analysts.

One of the best things that can happen to any cause, to any people, is to have Bill Clinton as its advocate. That is how needy and neglected causes have become global initiatives.

The way the world is going, it's technology driven. And it isn't just driven by the old super powers, it's driven by the far east and new emerging economies.

When I came to the Senate in 1997, the world was being redefined by forces no single country controlled or understood. The implosion of the Soviet Union and a historic diffusion of economic and geopolitical power created new influences and established new global power centers - and new threats.