Summers On CEO's Quitting: 'They Made The Right Decision'

STATEMENT, DENOUNCING WHAT THE PRESIDENT SAID, BUT HE WAS
STAYING ON THE COUNCIL. AND YOU SAID IF WALMART, THE
BIGGEST EMPLOYER IN THE UNITED STATES NEEDS TO STAY ON THE
COUNCIL TO GET ACCESS TO THE WHITE HOUSE, SOMETHING'S WRONG.
WELL, DOUG McMILLAN WAS LISTENING AND THE REST OF THEM
WERE. NOW THEY'VE LEFT.
WHAT DO YOU THINK? >> I WAS GLAD TO SEE IT.
I THINK THEY MADE THE RIGHT DECISION.
I THINK IT'S THE RIGHT THING FOR THE COMPANIES.
I THINK IT'S THE RIGHT THING FOR THEMSELVES.
I THINK IT'S THE RIGHT THING FOR THE COUNTRY.
THIS IS A PRESIDENT WHO CERTAINLY RESPECTS BUSINESS AND
RESPECTS WEALTH AND HOPEFULLY HE'LL TAKE A SIGNAL FROM THIS.
BUT I THINK A LOT OF OTHER PEOPLE HAVE TO BE THINKING ABOUT
THEIR RELATIONSHIP TO THIS PRESIDENT AND THIS
ADMINISTRATION, INCLUDING THOSE WHO ARE WORKING FOR HIM BY
SERVING IN THE ADMINISTRATION. I KNOW IF I HAD ENCOUNTERED
ANYTHING REMOTELY SIMILAR TO THIS DURING MY TIME IN
GOVERNMENT I WOULD HAVE RESIGNED.
RESIGNED BECAUSE I HAD PRESIDENT WHO -- A BOSS WHO WASN'T
LISTENING AND PAYING ATTENTION TO MY ISSUES AND WAS DIVERTING
ATTENTION TO AWAY FROM THEM WITH THINGS LIKE TUESDAY'S PRESS
CONFERENCE, RESIGNED BECAUSE OF THE MANIFEST CHAOS, INCIVILITY,
MEANNESS GOING ON WITHIN THE WHITE HOUSE, AND ABOVE ALL,
BECAUSE I WOULDN'T HAVE BEEN WANTING TO BE PART OF WORKING
FOR SOMEONE WHO COURTED ANTI-SEMITISM AND RACISM,
ESPECIALLY WHO DID IT AFTER CAREFUL REFLECTION AND AFTER TWO
DAYS TO REFLECT AND WIDESPREAD CRITICISM.
AS THEAS THE PRESIDENT DID ON T. AND IF I HADN'T SEEN THE LIGHT
ON THAT, MY FAMILY WOULD HAVE BEEN IN MY FACE.
MY KIDS WOULD NOT HAVE BEEN WILLING TO REST AS LONG AS THEIR
FATHER WAS PART OF THIS. AND SO I SUSPECT THERE'S A LOT
OF DISCUSSION GOING ON IN A LOT OF HOMES OF PEOPLE WHO ARE
WORKING IN THE ADMINISTRATION. THERE MUST BE A LOT OF PEOPLE
THINKING ABOUT WHETHER THIS IS SOMETHING THEY WANT TO CONTINUE
TO BE PART OF. I THINK IT WILL BE INTERESTING
TO SEE WHAT HAPPENS WHEN PEOPLE RETURN FROM VACATION.
>> LARRY, IT SOUNDS LIKE YOU'RE SPEAK DIRECTLY TO FORMER
PRESIDENT OF GOLDMAN SACHS GARY COHN, WHO'S GOT THE JOB YOU ONCE
HAD. WHAT IF GARY WOULD MAKE THE
ARGUMENT -- I TURN TO YOU, ANDREW, WHAT IF HE WOULD MAKE
THE ARGUMENT YOU WANT TO OFF THE ME ON THE INSIDE?
THINGS WOULD BE SO MUCH WORSE IF I WASN'T HERE AND MAYBE HE'S
WAITING TO GO FOR FED CHAIR. >> I WAS ON THE PHONE WITH A CEO
WHO WAS PART OF DISSOLVING THIS COUNCIL YESTERDAY.
>> SHOWING OFF. >> NO, NO.
WE WERE TALKING LAST NIGHT -- >> IN MY FACE.
>> TALKING ABOUT THIS ISSUE AND GARY COHN AND THE IDEA OF
WHETHER WHAT THE CEOs DID TRICK
LES DOWN TO PEOPLE IN THE ADMINISTRATION AND WITHIN
WASHINGTON BUT THIS INDIVIDUAL SAID, YOU KNOW, THERE'S PART OF
ME THAT THINKS THAT GARY COHEN SHOULD RESIGN ON PRINCIPLE, BUT
THERE'S PART OF ME THAT WANTS HIM STILL IN THE ROOM, AND THAT
THAT IS GREAT CONUNDRUM OF ALL OF THIS.
THAT IS TO SAY IF HE'S NOT IN THE ROOM, WHO FILLS THAT VACUUM?
I THINK THERE IS A LARGER QUESTION ABOUT WHAT THE RIGHT
DECISION IS, AND GARY COHN IS SOMEBODY WHO I THINK IS ONE OF
THOSE PEOPLE LIKE LARRY WAS SUGGEST <SUFFIX>ING WHO PROBABLY
DOES FEEL IT FROM HIS FAMILY. HIS DAUGHTER WORKS AT "THE
HUFFINGTON POST." >> GARY'S GOT JEWISH CENTERS IN
HIS NAME IN OHIO. LARRY?
>> LET ME JUST SAY I'M NOT PREPARED TO PROSCRIBE FOR ANY
SPECIFIC INDIVIDUAL. I DON'T THINK YOU CAN EVER WALK
IN ANOTHER PERSON'S SHOES AND THERE ARE ALL KINDS OF PERSONAL
CONSIDERATIONS FOR ANY INDIVIDUAL.
LOOK, ANDREW'S RIGHT. SOMETHING THAT ONE HAS TO WEIGH
IS ONE'S RESTRAINING INFLUENCE VERSUS THE LEGITIMACY THAT ONE'S
CONFERRING AND THE POWER OF THE SIGNAL ONE COULD SEND BY
RESIGNING. I'M PARTICULARLY SYMPATHETIC
GIVEN ALL THE THREATS TO NATIONAL SECURITY OFFICIALS WHO
DECIDE TO REMAIN. BUT I GUESS WHEN AN ISSUE THAT'S
BEEN CENTRAL FOR ECONOMIC POLICY TO THIS ADMINISTRATION LIKE
INFRASTRUCTURE INVESTMENT AND IN PARTICULAR THE DEREGULATORY
ASPECTS OF INFRASTRUCTURE INVESTMENT, WHEN A HUGE AMOUNT
OF EFFORT DIRECTED AT THIS ISSUE IS JUST ENTIRELY WASHED AWAY BY
THE PRESIDENT'S BEHAVIOR AT HIS PRESS CONFERENCE ON TUESDAY, YOU
REALLY HAVE TO ASK YOURSELF DOES THE PRESENCE OF PARTICULAR
ECONOMIC OFFICIALS MATTER. I THINK HISTORY, WHETHER IT'S
EXECECUTIVES AT ENRON, WHETHER IT'S PEOPLE WHO STAYED IN THE
GOVERNMENT FOR LONGER THAN THEY WISH THEY HAD STAYED DURING THE
VIETNAM WAR, IS REPLETE WITH EXAMPLES OF PEOPLE WHO CONVINCED
THEMSELVES THAT THEY WERE BEING EFFECTIVE EVEN AS THEY WEREN'T
REALLY RESTRAINING VERY MUCH AND THEY WERE LENDING LEGITIMACY TO
WHAT WAS GOING ON. >> WE'RE ALSO NEVER GOING TO GET
TO TAX REFORM. >> I THINK THERE'S ENORMOUS
FRAGILITY RIGHT NOW. THERE'S NOT GOING TO BE A
SERIOUS TAX REFORM. THERE MAY BE SOME TAX CUTTING,
BUT HOW CAN ANYONE THINK THERE'S GOING TO BE SERIOUS TAX REFORM?
IT WAS ONLY 31 YEARS AGO ONCE THAT IT HAPPENED WITH A GREAT
COMMUNICATOR WITH A HIGH APPROVAL RATING, AS PRESIDENT
WITH A MASTER LEGISLATIVE TACTICIAN AS THE SECRETARY OF
THE TREASURY WEATHER THE SPIRIT OF BIPARTISAN

Summers On CEO's Quitting: 'They Made The Right Decision' | MSNBC

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