ABC 7 NEWS/ WJLA EXCLUSIVE INTERVIEW with FORMER PRESIDENT BILL CLINTON
Washington, DC
Friday, July 26th
WJLA/Reporter Rebecca COOPER: President Clinton, do you think President Bush's economic policies are taking this country in the right direction?
CLINTON: I don't think I should offer an opinion on that. I think its a mistake for them to try and blame us for it though, because we actually have a clear and unbroken record of trying to clear up a lot of these corporate abuses. We started back in '98 warning about the accounting problems and when my Securities and Exchange Commissioner tried to stop the Enron accounting practice of accountants being the consultants, the other party stopped us, and their main lobbyist was Harvey Pitt, who is now head of the SEC.
And when I vetoed the Securities Reform Act, I did it because it robbed individual investors of the right to sue people when they got ripped off, as so many of them have. And then when Secretary Summers tried to stop the abuse of these offshore accounts, the Republicans in Congress stopped us.
And so it looks like it is beginning to turn around now. The Congress, I noticed that last week they passed a bill that just last April every Republican voted against. They all voted for it this time. So maybe everyone's going to get a little religion and we'll get a little confidence back in the economy that way. I think the most important thing is right now that we look for ways to get confidence. I think it would be a good thing to ask Warren Buffett and George Soros and a lot of these other people that invest a lot of money what they think and will do.
And what it will take to get confidence in the economy and get the thing going again. But you know we've got to break this mentality that people can take the money and run. That it's all right for big investors on the Board of Directors or for managers to take big gains and for ordinary investors and ordinary employees to get the shaft. That's not why I tried to create millionaires when I was president.
I tried to do it so that it would create more jobs, more incomes, more security. The economy has to work for ordinary people and that is what, interestingly enough, generates confidence. That's what makes investors want to put money in to it. So maybe we're beginning to turn it around. I certainly hope so.
WJLA/Cooper: What do you say to members of the Bush Administration who say they inherited corporate malfeasance from you?
Clinton: Well first of all, if that's true than that means that they are personally responsible for all corporate malfeasance which has occured since January the 20th 2001. These people ran on responsibility but as soon as you scratch them they go straight to blame. Now you know,I didn't blame his father for Somalia, when we had that awful day memorialized in BLACK HAWK DOWN. I didn't do that.
And I think that's not a real mark of leadership and it's the wrong thing to do. But in this case it's factually wrong. There was corporate malfeasance both before he took office and after. The difference is I actually tried to do something about it and their party stopped it. And one of the people who stopped our attempt to stop Enron accounting was made chairman of the Securities and Exchange Commission. That is a fact, an indisputable fact.
We haven't been out here trying to, at least I haven't, you haven't heard me out there trying to blame them, but, one more time, they did that. We had seven years of progress towards peace in the Middle East and they tried to blame me for the trouble in the Middle East. That's just what they do. Republicans have always done that. But it's bad form and it's bad for America, and they should stop it. And they should get about the business of solving the problems.
WJLA/COOPER: How do judge the job President Bush is doing in the Middle East peace process?
CLINTON: Let me just say this. I think it was a mistake to get out for a year. I think that now that they are back in and have shown a real interest in resolving it -- in theory on terms that are fair to both the Israelis and the Palestinians -- it's not so important whether I agree with everything they do or not. The important thing is that, right now, that they be involved. I always thought that Secretary Powell wanted to do that. I think they should continue to let him be actively involved.
They're going to have these elections in January among the Palestinians and we will see what happens. But, I think, the most important thing, I would say, is that America is back involved. And that is good. Whenever we are involved, fewer people die. So, we only have one President, one foreign policy at a time. Whether I agree with all the details or not is not important, or not as important as that we are back involved, and we at least limit the range of irresponsibility, the range of destruction, on both sides, and that we give them a chance to kind of calm down and think about the big issues again and understand again that there is no military solution to this for either side and they have to have a negotiated peace.
And in the end it will look pretty much like what Mr. Arafat walked away from before, which is why he now says he would take it. So they will get there. And if we just stay involved, there will be twists and turns and good days and bad days, but fewer people will die. And the peace will come sooner. So I am quite encouraged that they are back involved.
WJLA/COOPER: Include Yasir Arafat?
CLINTON: What do you mean?
WJLA/COOPER: Should he be included? President Bush says that as long as Yasir Arafat is the head of the Palestinian Authority....
CLINTON: Well, let's see what happens in these coming elections. Mr. Arafat may find a way to share power that will be acceptable to not only to America but to the Israelis. He, after all, is not getting any younger and it is difficult to sustain a level of concentration and effort it takes to carry that workload every day.
So there might be a way for both sides to get out of a difficult situation here -- for him not to renounce his leadership if the people want him, but for him to do enough power sharing to show that there is going to be a movement for a more genuine democracy. There's a way for both sides to get out of this if they want to bad enough and I hope they'll do it. I think they're all kind of scared now that too many people have died. And even one of the Hamas leaders said the other day that he was prepared to recognize Israel if they could have their state on the West Bank and Gaza. That's the first time they've ever done that. They are all worried.
These Palestinians are in danger of creating a cult of suicide among young people, which would be devastating to them. They'll never normalize society if that happens. And I think the Israelis for other reasons are concerned. So we just need to work this out. They know what they can do. The Americans know what they can live with, and the Palestinians know what they can do, and everybody still feel like they haven't altered their fundamental position. There's a way to get there. I hope and pray they will.
And as long as America is involved, we are going to be closer. So I'm encouraged that our country and the Bush Administration is back involved. Really everybody should know that it's almost more important than the specifics of whether I agree with everyone or not. You know that doesn't matter. Not everyone is going to agree with everybody else 100% of the time. But they are back involved and that's good.
WJLA/COOPER: Thank you. Any wedding bells for Chelsea?
CLINTON: Well, not to MY knowledge.
WJLA/COOPER: Are you saving up for a wedding?
CLINTON: [Laughing] Yeah I am doing that. But as far as I know there are no plans.
COOPER: Thank you Mr. President.
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