Politics over problem-solving needs to change: former Pres. Clinton

Applauded for saying U.S. needs détente in Washington to rebuild trust

Jun 6, 2012 @ 3:48 pm

By Dan Jamieson

Politics is getting in the way of fixing the world’s problems, former President Bill Clinton said Wednesday at the Pershing LLC conference in Hollywood, Fla.

But he urged financial services professionals to stay focused on solutions.

Mr. Clinton ran through a long list of issues the world faces — energy usage and the environment, disease and the cost of health care, political instability and inequality.

“It’s all fixable,” Mr. Clinton told attendees.

“What works often in politics is confrontation,” he said. But “all over the world, cooperation works.”

He cited projects undertaken by his foundation, the Clinton Global Initiative, to fight poverty around the world.

Mr. Clinton noted that it’s much easier to get cooperation as a private citizen running the foundation than as an elected official.

When asked about the European situation, Mr. Clinton said, “The best thing we can do is give some cover and encouragement to Germany to take a slightly different tack.”

Germany has been pushing austerity for the peripheral eurozone nations, but deep cuts at this time, with interest rates at zero and the global economy stalled, will produce lower revenues and larger deficits.

What Germany is doing now is trying to assure German voters that issuing eurobonds or increasing deposit insurance coverage on Spanish banks can lead to longer-term agreements to balance budgets, Mr. Clinton said.

Back here in the U.S., “we have to re-establish trust between the two parties in Washington,” he said — a statement that got a round of applause from attendees.

“He certainly didn’t get the applause that [George W. Bush got] last year” at the Pershing event, one attendee said after Mr. Clinton concluded. Mr. Bush got a rousing standing ovation.

“But you have to like how articulate and knowledgeable” Mr. Clinton about world events, said another source who heard Mr. Clinton’s speech.


What do you think?

View comments

Recommended for you

Featured video


Why advisers are pessimistic about the economy

Deputy editor Bob Hordt and senior research analyst Matt Sirinides discuss a recent InvestmentNews survey of advisers, most of whom see a recession ahead before the next presidential election.

Latest news & opinion

6 biggest RIA acquisitions of 2018

As M&A involving registered investment advisers hit another record last year, these six deals topped the list

Anatomy of an annuity buyout offer

Readers are invited to comment on whether the columnist should keep or ditch her Ohio National VA contract

Factions emerge in OneFPA overhaul

Critics fear the FPA is trying to take money and power from local chapters, which officials and proponents call overblown.

RIA M&A sets another record in 2018

Last year's 181 deals were twice the number recorded five years ago, and the average asset size of the acquisitions was $1.3 billion — 31% larger than in 2017.

6 tech companies heading for IPOs this year

These Silicon Valley technology companies could make an IPO splash in 2019.


Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting investmentnews.com? It'll help us continue to serve you.

Yes, show me how to whitelist investmentnews.com

Ad blocker detected. Please whitelist us or give premium a try.


Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print