“She (Hillary Clinton) detailed her time working with Wall Street as a senator from New York and confided that the “conventional wisdom” of blaming Wall Street banks for the financial crisis was an “oversimplification.”…

…Mrs. Clinton described how banks were holding back on lending because they were “scared of regulations.” She urged banks to allow greater transparency and help policy makers come up with solutions. “We’re all in this together,” Mrs. Clinton told the audience. Most strikingly, Mrs. Clinton did not defend the 2010 Dodd-Frank financial oversight legislation, a major achievement of President Obama and congressional Democrats in the wake of the crisis — and a target of Wall Street lobbying ever since. Instead, Mrs. Clinton suggested that it had been passed for “political reasons” by lawmakers panicked by their angry constituents….Another (Hillary) adviser, Mandy Grunwald, disagreed with Mr. Schwerin about releasing the 2014 (Deutsche Bank) speech. Referring to Mrs. Clinton by her initials, Ms. Grunwald argued that the speech had not been hard enough on Wall Street. The remarks, Ms. Grunwald said, “make it sound like HRC DOESN’T think the game is rigged — only that she recognizes that the public thinks so.” Ms. Grunwald added: “They are angry. She isn’t.””, October 15, 2016, The New York Times, Excerpt from “Hacked Transcripts Reveal a Genial Hillary Clinton at Goldman Sachs Events”, By AMY CHOZICK and NICHOLAS CONFESSORE

“Could it be any more clear, that the liberal view that the financial crisis was caused by greedy and reckless bankers, is a false political narrative? I don’t think so. Here you have a mainstream Democrat (and now her party’s Presidential candidate) Hillary Clinton privately disagreeing with the more liberal members of her own party…..Senators Elizabeth Warren and Bernie Sanders and their followers, but she and her advisors are saying, they have to publicly agree with them and continue this false narrative for political reasons.”, Mike Perry, former Chairman and CEO, IndyMac Bank

Hacked Transcripts Reveal a Genial Hillary Clinton at Goldman Sachs Events

By AMY CHOZICK and NICHOLAS CONFESSORE

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Hillary Clinton visited a campaign office on Friday in Seattle with Senator Patty Murray of Washington. Credit Doug Mills/The New York Times

In a 2013 paid speech hosted by Goldman Sachs, Hillary Clinton said she had not yet decided whether she would run for president again.

But she did offer some friendly advice to the bank’s chief executive, Lloyd Blankfein, when he asked what he would need to do to mount his own hypothetical bid.

“I think you would leave Goldman Sachs and start running a soup kitchen somewhere,” Mrs. Clinton said. “Then you could be a legend in your own time, both when you were there and when you left.”

Mrs. Clinton’s campaign declined to release transcripts of her speeches to Wall Street firms during the Democratic primary contests, when her rival, Senator Bernie Sanders of Vermont, intensely criticized her for accepting roughly $225,000 per speech.

But on Saturday, transcripts of three appearances at Goldman Sachs events were released by WikiLeaks, part of a trove of thousands of emails obtained by hackers who illegally breached the email account of one of Mrs. Clinton’s top aides.

The genial relationship she appeared to have with Mr. Blankfein and other Wall Street executives at the events would not have served Mrs. Clinton well in the Democratic primary contests, when Mr. Sanders used the speeches to portray her as being too close to Wall Street.

But for Mrs. Clinton, who is often criticized as overly scripted, her relaxed, off-the-cuff exchanges at these private events also revealed a side that she has struggled to show voters under the intense glare of a presidential race.

While the emails released last week showed Mrs. Clinton’s cadre of campaign aides agonizing over jokes she should tell in public and calculating political implications, the transcripts revealed Mrs. Clinton freely dispensing her own quick wit before a closed-door audience.

In one question-and-answer session with Mr. Blankfein, Mrs. Clinton relayed an argument she had had as secretary of state, when she tried to persuade a Chinese diplomat that his country had no more right to claim the South China Sea than the United States had to the Pacific Ocean.

“He says to me, ‘We’ll, you know, we’ll claim Hawaii,’” Mrs. Clinton told Mr. Blankfein. “And I said: ‘Yeah, but we have proof we bought it. Do you have proof you bought any of these places you’re claiming?’”

Mr. Blankfein interjected: “But they have to take New Jersey.”

“No, no, no,” Mrs. Clinton said. “We’re going to give them a red state.”

At these events, which took place in June and October of 2013, Mrs. Clinton repeatedly demurred when asked about her future plans, but it was also clear she was contemplating the political landscape if she were to run again.

Mrs. Clinton said that if she mounted a presidential campaign, she would need to begin raising money in 2014 or “early the following year.” And she expressed concerns about how the news media covered campaigns.

“Our political press has just been captured by trivia,” Mrs. Clinton said at a C.E.O. conference in South Carolina at which Mr. Blankfein moderated a discussion. “And so you don’t want to give them any more time to trivialize the importance of the issues than you have to give them. You want to be able to wait as long as possible.”

Excerpts from some of her speeches had previously been released by WikiLeaks, shortly after a recording surfaced in which her opponent, Donald J. Trump, made crude remarks about women. The Clinton campaign has refused to verify the authenticity of the transcripts, which came from the hacked email account of John D. Podesta, Mrs. Clinton’s campaign chairman. The campaign has blamed the Russian government for the hack and WikiLeaks — whose founder, Julian Assange, is a critic of Mrs. Clinton — for releasing the emails in a coordinated effort to help Mr. Trump, a view echoed by the Obama administration.

The emails released Saturday included a fuller version of Mrs. Clinton’s previously leaked answer to a question posed by Timothy J. O’Neill, a senior Goldman executive, at a symposium hosted by the firm. Asked how Wall Street banks should approach efforts by Washington to impose tougher regulation and oversight, Mrs. Clinton made a show of empathy and spoke gently.

She detailed her time working with Wall Street as a senator from New York and confided that the “conventional wisdom” of blaming Wall Street banks for the financial crisis was an “oversimplification.” Mrs. Clinton described how banks were holding back on lending because they were “scared of regulations.” She urged banks to allow greater transparency and help policy makers come up with solutions.

“We’re all in this together,” Mrs. Clinton told the audience.

Most strikingly, Mrs. Clinton did not defend the 2010 Dodd-Frank financial oversight legislation, a major achievement of President Obama and congressional Democrats in the wake of the crisis — and a target of Wall Street lobbying ever since. Instead, Mrs. Clinton suggested that it had been passed for “political reasons” by lawmakers panicked by their angry constituents.

“I think the jury is still out on that because it was very difficult to sort of sort through it all,” Mrs. Clinton said of the overhaul.

Mrs. Clinton took a far stronger line in public, particularly after she began her second bid for president. In a January 2016 speech in New York, amid her tough primary campaign with Mr. Sanders, Mrs. Clinton vowed to defend the Dodd-Frank Act and expand financial regulation to new territory, such as hedge funds and high-frequency traders.

But most of Mrs. Clinton’s insights involved foreign policy and her experiences as the nation’s top diplomat, including concerns about North Korea’s nuclear arsenal, the rise of anti-Japanese sentiment in China and a strikingly prescient prediction about the spread of nationalism in Europe.

Mrs. Clinton presented the Pentagon’s argument against establishing a no-fly zone in Syria, a policy that she has advocated in her 2016 campaign. Noting that American pilots would have to enforce the no-fly zone, she said, “We’re not putting our pilots at risk,” and added, “You’re going to kill a lot of Syrians.”

Other hacked emails suggest Mrs. Clinton’s campaign had deep concerns about the Wall Street transcripts being made public.

In November 2015, as Mrs. Clinton’s campaign was refusing to release transcripts of her paid speeches, her speechwriter, Dan Schwerin, suggested anonymously leaking to a reporter excerpts from one particular speech he wrote for her: A 2014 address to Deutsche Bank.

In that speech, he said in the email, “I wrote her a long riff about economic fairness and how the financial industry has lost its way, precisely for the purpose of having something we could show people if ever asked what she was saying behind closed doors for two years to all those fat cats.” He also acknowledged that it was “definitely not as tough or pointed as we would write it now.”

Another adviser, Mandy Grunwald, disagreed with Mr. Schwerin about releasing the 2014 speech. Referring to Mrs. Clinton by her initials, Ms. Grunwald argued that the speech had not been hard enough on Wall Street.

The remarks, Ms. Grunwald said, “make it sound like HRC DOESN’T think the game is rigged — only that she recognizes that the public thinks so.” Ms. Grunwald added: “They are angry. She isn’t.”

Mark Landler contributed reporting.

A version of this article appears in print on October 16, 2016, on page A19 of the New York edition with the headline: Genial Clinton Emerges in Hacked Transcripts of Goldman Sachs Talks.

 

Posted on October 19, 2016, in Postings. Bookmark the permalink. Leave a comment.

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