Also in this playlist...
This transcript is automatically generated
Forgot her books called confidence man.
Wall Street Washington -- -- President.
Bush trying to read it here.
Danone has 700 -- that and the amount -- but.
For some people who do that are gonna socialist Canada good I'll do the audio version for Italy and humor related to vote legitimate -- -- and itself it's a second cousin once removed my father's second -- I think -- -- a bar Mr.
President maybe made it hard to say.
-- -- -- All -- and you don't have term favorite songs.
-- -- That's all I can Muster last night in -- time wasn't -- eleven an article like -- and I've -- other favorite songs which ones and Ebix Springsteen and apparent to us British and on and talking has Rockefeller -- yes want to hold -- interpreter of treasury.
And -- Thomas -- is.
Represented presentation company don't normally if you wanna one I wouldn't go that far doctrine moment now it's.
It's a story of of them the fall the economy in the rise of Obama.
And then the two year struggle between the two capitals new York and Washington -- a private endeavor the other public purpose.
As to the guidance to the ship stayed in Obama is essential -- throughout I -- him from 2007 right up to now.
And now what you see is is a kind of a an adventure story for better for worse for the country Obama arrives in Washington.
That's when the drama picks up in terms of certainly the news is being spun off the book these days.
And you know when the first couple months he's a new president brilliant inspirational.
But he's never managed anything other than his one man show for the most part -- and He stepped to top the the most complex managerial organism on the planet.
Surrounding himself with a lot of let's just say ambitious and skilled man.
His advisors all from for the most part at the top level many of whom work for Bill Clinton.
They've known each other for years where it ends of being a a pretty toxic dynamic in a lot of ways.
And people read the book they're gonna be sympathetic to the president I think as well they're gonna say gosh what do what do combination of circumstances this -- faces.
But the times are going to be frustrated too.
Because it seems like Obama wanted to do more He He it the beginning tries to trying to do Roosevelt.
Much more than I think people understand.
And He kinda gets the -- -- -- from our oil now Larry Summers Tim Geithner.
A Rama Manuel.
In all thought there were smart and well -- for the most part in terms of the management -- government you betcha and in terms of certain areas of expertise like Geithner -- -- but Geithner went through the financial collapse of the New York Fed Chairman.
It's a little like 9/11.
Well you know I'll guide him but you know -- -- in May be very forcefully.
And in and they're episodes in the book rescinding the presence getting managed getting gained.
By his senior people.
And I'm anti a bit on the big fan of resolution or.
-- election organized -- -- very provocative Phelps -- -- because there's going to.
A sale papal -- characteristics which is the level of -- that we enter the it's an employer doesn't -- -- Amylin which represents -- But he's that during during the campaign correctly -- I'm -- but the president campaigned.
Suggestion among many of things that there was going to be a different culture on Wall Street took them out and that but that.
And -- but -- out onto a different way of doing business.
And yet today after He was elected most to be.
Chris you said just on -- to -- Austin seven has to be because of the -- economist.
Today after election He called Tim Geithner and Larry Summers -- people so.
So -- He was criticizing him for -- But what what what else could we have done or you know present.
Well people last maybe there was another plan I have that all mapped out in this but people made that charge -- and others what you're gonna see is essentially the movie here you're gonna see step by step what exactly happened the president was way ahead of everybody on financial reform got to change Wall Street.
Why -- He -- all these Wall Street advisors.
And contributors to schooled them.
But the -- got to the fault He crushed McCain in that audition for president when the disaster hit.
But then at that time writer and there He seemed to get kind of a cold chill kind of break into a sweat moment.
Saying my god I've got -- I got to own Washington team New York save the economy.
I guess I need skilled old hands and He gets rid of all that team that brought in their Paul Volcker.
You know Reich Robert wolf the brilliant UBS.
Chief you know ecumenical Donaldson the former SEC guy under budget ecumenical.
Bipartisan group guys are -- hadn't no ax to grind you know some of -- mold you know wall she says they had no handle nothing we could grant nothing we can use.
And He gets rid of them fourteen B I call that -- team be Summers Geithner and the -- people will say that was a turning point crawled out an agenda.
Well all -- guys who have a great affection a for Wall Street in -- -- -- in some cases they look they have a lot of relations but more than that.
They embrace a view that in the book called hippocratic risk meaning first do no harm.
Now if you have that philosophy is Paul Volcker says in the book you're not gonna do very much -- you know almost every significant action the government has Volcker and -- say in the and people it's a throughout American history are gonna cause some harm to somebody.
Maybe it's government's job to soften the blow.
But you know if you sit with a first do no harm position.
A you know I can do much is going to be all caution and that really -- -- what goes forward in the first important months and in years of the Obama presidency.
-- come to any conclusion and the sport coats call to Thomas -- Wall Street Washington institution present.
Russell's -- come to any conclusions.
-- whether to go to war or two part question one if the president is up to this job which some some report suggest -- not.
And true if He is if if if if you can get a settlement mess were and now it doesn't have the team that -- -- -- -- able to do that He continued to LL you know.
-- -- right to the president on that after two years or research all the disclosures everything built up in terms of the evidence I reported I salad the president for fifteen minutes in February laid it all out for some of the very tough stuff all in the book.
President -- -- didn't disagree with any of it and but He says look I've learned it was very difficult difficult times and hard lessons.
I've learned I've grown.
IE in a way M and more the president people need now maybe the the president they've wanted from the start He makes that claim in the book.
And I the staff I need to do what I need.
To be the president of this moment now people will judge whether that's.
True or not.
I think that job speech two days ago was one where He would say there there -- -- -- -- -- tougher.
Or -- through such as my question to you is prompts us to thank you.
-- -- I think it is -- it's going to be very difficult he's got.
The odds stacked really long against him right now He missed his big moment in 2009 to make a big changed.
That would have changed the landscape now he's got a -- with a tough landscape.
Give it my -- Mitt Romney can.
IE was a great any books on this Romney felt like yourself from what Massachusetts where there's a fell for a -- but Iran -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- --
Filter by section