Political Sex Scandals & New York City Elections - Eliot Spitzer

  • Aired:  07/18/13
  •  | Views: 54,594

NYC comptroller candidate Eliot Spitzer explains the role of comptroller, discusses the 2008 financial crisis and defends market regulation. (4:05)

THE SUBWAY.

(LAUGHTER)

BUT OF COURSE, THE BIG STORY

THIS WEEK IS THE POLITICAL

COMEBACK OF FORMER NEW YORK

GOVERNOR AND REGISTERED LIP

DONOR ELIOT SPITZER.

JIM?

>> IN THE RACE, FORMER

GOVERNOR ELIOT SPITZER

BARELY HAS BEEN IN THE RACE

FOR A WEEK AND ALREADY HE'S

LEADING MANHATTAN BOROUGH

PRESIDENT SCOTT STRINGER

48-33 PERCENT.

>> Stephen: YES, ELIOT

SPITZER COULD VERY WELL BE

NEW YORK'S NEXT COMPTROLLER.

DO YOU HAVE ANY IDEA WHAT

THAT MEANS?

I DON'T.

BECAUSE WHAT THE HELL IS A

COMPTROLLER?

HERE TO TELL US IS CANDIDATE

FOR NEW YORK CITY

COMPTROLLER ELIOT SPITZER.

ELLIOTT, THANK YOU FOR

COMING.

GOOD TO SEE YOU.

(CHEERS AND APPLAUSE)

>> THANK YOU.

>> Stephen: OKAY, ELLIOTT,

YOU ALSO GOT A BOOK HERE.

>> I DO.

>> Stephen: IT'S CALL

PRODUCT TECTING CAPITALISM

CASE BY CASE.

WE'LL GET TO THAT LATER.

>> CAN WE DO THAT NOW.

>> Stephen: ELLIOTT.

>> YES, SIR.

>> Stephen: WHAT IS A

COMPTROLLER.

WHAT DOES A COMPTROLLER DO.

>> I THOUGHT YOU WERE GOING

TO TELL ME.

THAT'S WHY I SHOWED UP.

THIS IS ACTUALLY A HUGELY

IMPORTANT POSITION.

YOU CONTROL OR HAVE A SAY IN

THE INVESTMENT OF OVER 140

BILLION DOLLARS OF PENSION

DOLLARS THAT ARE THE

PENSIONS FOR FORMING

MUNICIPAL WORMER-- WORKERS,

YOU SEE OVERTHE THE BUDGET,

YOU SEE THAT THE TAX DOLLARS

ARE USED FOR THE

PURPOSE-- YOU SEEM SO INTENT

IN LISTENING.

>> Stephen: NO, I DO, IT'S

GOOD TO KNOW.

GIVEN A POSITION OF THIS

RESPONSIBILITY, SHOULDN'T

THE JOB OF COMPTROLLER GO TO

SOMEONE WHO HAS SHOWN A

MODICUM OF SELF-COMPTROL.

(APPLAUSE)

>> YOU ARE RIGHT.

>> Stephen: WHY-- WHY, WHY

SHOULD, WHY SHOULD THE

PEOPLE TRUST NEW.

>> BASED ON THE TOTALITY OF

THE RECORD.

MANY YEARS AS ATTORNEY

GENERAL, DOING THINGS WITH

RESPECT TO CAPITAL MARKETS

THAT RELATE DIRECTLY TO THE

OFFICE OF COMPTROLLER.

>> Stephen: ATTACKING WALL

STREET.

>> WELL, ATTACKING,

REGULATING IT SO IT WAS

HONEST AND FAIR AND

TRANSPARENT.

AND BACK IN 2000, 2001

LEADING TO THE CRISIS OF

2008 SAYING THERE ARE

STRUCTURAL PROBLEMS HERE

THAT NOBODY WANTED TO ADMIT.

>> REGULATION IS THE WORD

YOU USED.

YOU CAN'T BE PRO REGULATION

AND PRO CAPITALISM.

CAPITALISM YOU HAVE TO CUT

THE STRINGS AND FLY, BABY

DOLL.

>> THAT IS SO LAST CENTURY.

>> Stephen: WHY?

>> HERE'S WHY.

THE REALITY IS, OUR

UNDERSTANDING OF MARKETS WAS

FLAWED.

MARKET DOES NOT WORK IF YOU

DON'T HAVE ANNUM PRIOR.

YOU CANNOT LET THE LINESMAN

ON THE FOOTBALL TEAM CALL

THE HOLDING PENALTY.

YOU CANNOT LETED WALL STREET

FIRMS GET AWAY WITH THIS

THING CALLED SELF-REGULATION

T WILL LEAD TO ANOTHER

CATACLYSM.

>> WHAT DOES THIS HAVE TO DO

WITH THAT, THAT IS NOT THE

JOB OF THE COMPTROLLER WHY

DOW WANT THIS JOB?

BECAUSE BEFORE YOU HAD YOUR

FALL FROM GRACE OR WHATEVER

HER NAME WAS-- YOU--

(LAUGHTER)

>> Stephen: BEFORE YOU HAD

YOUR FALL FROM GRACE, YOU

WERE THE GOVERNOR OF THE

STATE.

>> RIGHT.

>> Stephen: YOU WERE THE

GOVERNOR SLAFERP!.

AREN'T YOU ONE AT THE SAME

TIME BOTH ABOVE AND BELOW

THIS JOB.

>> THAT'S WHY-- THAT'S WHY

I'M TRYING TO GET RIGHT IN

THE MIDDLE.

HERE'S WHY.

IN THE BOOK, WHICH YOU

KINDLY HELD UP.

>> Stephen: THERE IT IS.

>> I MAKE AN ARGUMENT THAT

OWNERSHIP TRUMPS REGULATION.

AND WHAT I MEAN BY THAT, I

KNOW THAT SOUNDS LIKE A

WONKY TYPE OF THING.

YOU CAN'T REGULATION YOUR

WAY TO GOOD JUDGEMENT IN THE

CORPORATE BOARDROOMS.

YOU CAN'T PROSECUTE YOUR WAY

TO GOOD JUDGEMENT, ONLY IF

THE PEOPLE WHO OWN THE

COMPANY, AND THAT'S US, IT'S

OUR MONEY, OUR PENSION

DOLLARS, OUR MUTUAL FUNDS,

ONLY IF THEY LISTEN TO

US-- .

>> Stephen: OKAY.

BEFORE WE GO.

>> YES.

>> Stephen: BEFORE WE GO,

ONE LAST QUESTION, AND THAT

IS, YOU KNOW, YOU'RE LEADING

IN THE POLLS.

YOU COULD WIN THIS THING.

IT'S POSSIBLE THAT WEINER

COULD WIN THIS THING, MARK

SANFORD HAD A COMEBACK.

DO YOU THINK THAT IT SEEMS

THAT VOTERS ARE MORE

FORGIVING THAN THEY USED TO

BE?

DO YOU THINK THAT SIGNALS

PROGRESS FOR OUR COUNTRY OR

THE SLOW DECAY OF OUR MORAL

VALUES?

(LAUGHTER)

>> WOW.

WOW.

THAT'S A TOUGH ONE.

>> Stephen: THIS EIGHT

CHARLIE ROSE MOTHER [BLEEP].

COME BACK AND TELL ME.

COME BACK AND TELL ME.

ELIOT SPITZER, CANDIDATE FOR

NEW YORK CITY COMPTROLLER.

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