Roberto Shapiro, a former number two in the Clinton-era Department of Commerce and a man close to the Democratic Party, is now co-chairman of the United States Taskforce for Argentina, an alliance of investment funds and institutional creditors who were hit hard by Argentina’s default on its international debts. In contrast to the Clinton era, under Bush the US Treasury Secretary was closer to industry than to banks, and so America’s response to Argentina’s default was notably more tolerant than probably would have been true had it occurred during the Clinton administration.