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The Hillary Trade

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On Tuesday, in a CNBC exclusive, Dylan Ratigan spoke with Democratic frontrunner Senator Hillary Clinton about her plans for Wall Street should she win the White House. Would a President Hillary Clinton help or hurt your wallet?

Following are excerpts from Dylan Ratigan’s conversation with Senator Clinton.

Describe your proposal to regulate lending standards in an effort help families who are struggling to make their mortgage payments.

”Well, there are a couple of different ways,” answers Senator Clinton. “Obviously there's, the preliminary, period when someone is thinking about going into homeownership. I'm a huge believer in counseling. I think there is a role for nonprofits, local governments...”

“Are you suggesting that the basically that we have mismanaged the regulation of the mortgage industry at this point,” asks Ratigan. “And that we are now are suffering ills of that -- and government needs to effectively solve that problem?”

“I don't want you to put words in my mouth, replies Clinton with a smile. “I’ve said what I have to say.”



How would you change the tax code for both private equity and wealthy individuals?

“Managing someone else's money as opposed to making your own investments, I think is different,” replies Clinton. “So, even though you may be managing billions of dollars, the management fees should be taxed as ordinary income.”

She adds, “I'm going to let the Bush tax cuts expire and so, I think, you can interpret that anyway you want. I think we shouldn't be taxing anybody, any more than is needed… to get (America) back into a competitive position…”

What’s your plan for the growing risks of having so much of our debt held by foreign governments?

Clinton says, “We now see so much of our paper owned by foreign governments. They're not, they're not operating in a market alone. They're also, operating with political considerations.”

She adds “We have seen us mortgage our future literally… to foreign governments that get to make decisions about whether or not they will buy and how much of that purchase they're willing to continue to bear."

Would you address universal healthcare?

“Absolutely,” answers Clinton. “From my perspective, we have to cover everybody, get costs down and improve quality.”

Dylan asks the guys what they think?

The guys say corporations such as General Motors might like universal healthcare because right now Corporate America is shouldering the cost of the nation's healthcare.

Eric Bolling says America is a free market. Leave healthcare alone.

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Trader disclosure: On Aug 7 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Najarian Owns (CSCO), (NMX),(GS); Bolling Owns (NMX)