Saturday, October 15, 2016

HOT Wikileaks Has Released Full Transcripts of Hillary Clinton's Goldman Sachs Speeches

Wikileaks has, in its most recent batch of Clinton Campaign chairman John Podeta leaked emails, released the full transcript of the three speeches Hillary delivered at Goldman Sachs: Here.




Questioned by

June 4, 2013

Hillary on trade agreements with Europe:
I would like to see us go as far as we possibly can with a real agreement, not a phony agreement.  You know, the EU signs agreements all the time with nearly everybody, but they don't change anything. They just kind of sign them and see what comes of it.





                  200 West Street
                  New York, New York

                  October 24, 2013
                  12:50 p.m.

Hillary on regulating Wall Street:
There's nothing magic about regulations, too much is bad, too little is bad.  How do you get to the golden key, how do we figure out what works?  And the people that know the industry better than anybody are the people who work in the industry.
          And I think there has to be a recognition that, you know, there's so much at stake now, I mean, the business has changed so much and decisions are made so quickly, in nano seconds basically.  We spend trillions of dollars to travel around the world, but it's in everybody's interest that we have a better framework, and not just for the United States but for the entire world, in which to operate and trade.
          You know, I remember having a long conversation with Warren Buffett, who is obviously a friend of mine, but I think he's the greatest investor of our modern era, and he said, you know, I would go and I'd talk to my friends and I'd ask them to explain to me what a default credit swap was, and by the time they got into their fifth minute, I had no idea what they were talking about.  And when they got into their tenth minute, I realized they didn't have any idea what they were talking about. 
          I mean, Alan Greenspan said, I didn't understand at all what they were trading.  So I think it's in everybody's interest to get back to a better transparent model.
          And we need banking.  I mean, right now, there are so many places in our country where the banks are not doing what they need to do because they're scared of regulations, they're scared of the other shoe dropping, they're just plain scared, so credit is not flowing the way it needs to to restart economic growth.
          So people are, you know, a little -- they're still uncertain, and they're uncertain both because they don't know what might come next in terms of regulations, but they're also uncertain because of changes in a global economy that we're only beginning to take hold of.
          So first and foremost, more transparency, more openness, you know, trying to figure out, we're all in this together, how we keep this incredible economic engine in this country going.  And this is, you know, the nerves, the spinal column.
          And with political people, again, I would say the same thing, you know, there was a lot of complaining about Dodd-Frank, but there was also a need to do something because for political reasons, if you were an elected member of Congress and people in your constituency were losing jobs and shutting businesses and everybody in the press is saying it's all the fault of Wall Street, you can't sit idly by and do nothing, but what you do is really important...          So it's something that I, you know, if you're a realist, you know that people have different roles to play in politics, economics, and this is an important role, but I do think that there has to be an understanding of how what happens here on Wall Street has such broad consequences not just for the domestic but the global economy, so more thought has to be given to the process and transactions and regulations so that we don't kill or maim what works, but we concentrate on the most effective way of moving forward with the brainpower and the financial power that exists here.
Hillary om women in the workforce:

          The IMF has just done a study about the legal obstacles to women working in professions all over the world, and some countries have very few, other countries are surprising, like I think Russia has 150 jobs that women can't be employed.
          So instead of saying, you know, here are the -- if you are going to be a miner in Siberia, here's the pack you have to carry and the work you're going to have to do.  If you can do it, fine.  If you can't, no.  Man or woman, doesn't matter.
          So there are existing legal obstacles.  There are regulatory obstacles. You know, a lot of countries back in '95 did not allow women to inherit property.  They couldn't inherit from their fathers.  They couldn't inherit from their husbands.  And this was particularly onerous on small holder women farmers who do all the work.  Sixty to 80 percent of the women farmers in the world, depending upon the region you're in, are women, and they're farming, you know, 2, 3 acres maybe at the most, but they're the ones in the field, the baby strapped to their back, they are the ones taking the food to market after they feed their family.  If their husband dies, it goes to his father or his brother, and in many instances, the woman and her children have to leave.
          So there were legal obstacles we were able to break down, but then in practice, nobody enforced them.  There weren't the regulations or the expectations that it would be carried through on.
          And then there are the, you know, lingering cultural barriers.  And, you know, Angela Merkel last spring, who is a very conservative, cautious politician whom I deeply admire, I think she is an incredible leader, she said she favored a requirement that German companies have 30 percent women on their boards.
          Now, when somebody as cautious and conservative as Angela, who I have known for 20 years says that there's a problem.  The problem is that (inaudible) is there's not a pipeline, it doesn't have enough people in it, but the fact is that there are a lot of women now who have achieved in their careers, who have a lot of great attributes to contribute to boards, but they're not being sought out, they're not being invited, they're not assuming that role. And the same, you know, in the CEO ranks.
          So whether it's legal obstacles, sort of regulatory, judicial obstacles or cultural attitudes, we have to continue to try to remove those.
          And I don't say this just because, you know, I think it would be wonderful if every girl in the world got the education she needed and the health care she needed and access to credit and politics, I think that would be great, and it's a moral imperative, but it is an economic imperative.
          And the work that Goldman has done that the OACD had done, the IMF has done shows unequivocally that we're leaving money on the table at the time of slower-than-hoped-for growth globally.  And one of the reasons is that women are not encouraged and permitted in many instances to be full participants in the economy.
               Ritz-Carlton Dove Mountain
                    Marana, Arizona
               Tuesday, October 29, 2013
Hillary on 'obstructionists':
I see any society like a three-legged stool.  You have to have an active free market that gives people the chance to live out their dreams by their own hard work and skills.  You have to have a functioning, effective government that provides the right balance of oversight and protection of freedom and privacy and liberty and all the rest of it that goes with it.  And you have to have an active civil society.  Because there's so much about America that is volunteerism and religious faith and family and community activities.  So you take one of those legs away, it's pretty hard to balance it.  So you've got to get back to getting the right balance.
             And what I really resent most about the obstructionists is they have such a narrow view of America.  They see America in a way that is no longer reflective of the reality of who we are.  They're against immigration for reasons that have to do with the past, not the future.  They can't figure out how to invest in the future, so they cut everything.  You know, laying off, you know, young researchers, closing labs instead of saying, we're better at this than anybody in the world, that's where our money should go.  They just have a backward-looking view of America.  And they play on people's fears, not on people's hopes, and they have to be rejected.  I don't care what they call themselves.  I don't care where they're from.  They have to be rejected because they are fundamentally unAmerican.  And every effort they make to undermine and obstruct the functioning of the government is meant to send a signal that we can't do anything collectively.  You know, that we aren't a community, a nation that shares values.
             I mean, American was an invention.  It was an intellectual invention, and we have done pretty well for all these years.  And these people want to just undermine that very profound sense of who we are.  And we can't let them do that.
             So it's not just about politics or partisanship.  It really goes to the heart of what it means to be American.  And I'll just say that I've been reading a lot of de Tocqueville lately because he was a pretty smart guy, and he traveled around and looked at this country and came up with some profound observations about us.  But he talked about how unique early Americans were because they mixed a rugged individualism with a sense of, you know, community well being.  So the individual farmer would quit farming for a day to go somewhere to help raise a barn, for example.  People understood that the individual had to be embedded in a community in order to maximize -- if you were a merchant, you needed people to sell to.  If you were a farmer, you needed people to buy your products.  And he talked about the habits of the heart.  And he said, that's what set us apart from anybody else.  And, you know, I think there's a lot of truth to that.  We are a unique breed, and people come here from all over and kind of sign on to the social compact of what it means to be an American.
             And we can't afford to let people, for their own personal reasons, whether they be political, commercial, or whatever, undermine that.  So, yeah, there's a lot of to be said.  And we need to say it more, and it doesn't just need to come from, you know, people on platforms.  It needs to come from everybody.
Hillary on intellectual property:
Freedom.  I think freedom.  Freedom of the mind, freedom of movement, freedom of debate, freedom of innovation.  You know, I just -- I don't think we fully value -- we sometimes take it for granted, and we sometimes even dismiss it, how much stronger we are.  Because in addition to that individual freedom that we have in great abundance compared to China, for example, we do have checks and balances.  We have constitutional order.  We have protection of intellectual property, we have a court system that we use for that purpose.  We have a lot of assets that support the free thinking and free acting of individuals.  And in the long run, that's what I would place my bet on.  I think that is what gives us such a competitive advantage.
             Now, in the short run, we have to protect ourselves, not in protectionism, but in, you know, protecting intellectual property, for example, from every effort to undermine what you all do every single day, and we have to be smart about it.  We have to invest better in education, starting at zero, not starting in even kindergarten, because we have to better prepare kids to be competitive in a global economy.  There's a lot of problems that we have to solve that are community, national problems.
             But fundamentally, you know, it's that feeling that, you know what, if you really work hard and you have a good idea, you can make something of yourself, you can produce something.  You know, we have traditionally been a country that invented things and made them.  Now, we don't do that as much, but I think there's a little bit of an understanding we've got to get back to doing more of that because that ultimately will give us more jobs, give you more opportunities for producing things without fear of being taken advantage of in other markets.  So I just think the freedom is just absolutely priceless.

1 comment:

  1. "... you know... I mean... you know... I mean... you know..." Churchill she's not. No less a demon though.