WHEN: Tonight, Thursday, September 23rd at 8PM ET
WHERE: CNBC's "Meeting of the Minds: The Future of the Global Economy"
Following are excerpts from the unofficial transcript of CNBC's “Meeting of the Minds: The Future of the Global Economy,” hosted by CNBC's
Guests include: President Bill Clinton; Sheila Bair, Chairman of the Federal Deposit Insurance Corporation (FDIC); Andrew Liveris, President, Chairman and Chief Executive Officer of The Dow Chemical Company; and Peter Sands, Group Chief Executive of Standard Chartered PLC
For more information, go to: meetingoftheminds.cnbc.com
All references must be sourced to CNBC.
CLINTON ON BANKS
CLINTON: We need to figure out what it would take to get the banks to loan money, because as you know, at conservative ratios, banks can loan 10 times their uncommitted cash reserves. So they could loan 18 trillion dollars and it would be far more conservative than what happened to cause this meltdown.
CLINTON ON RESTORING JOBS
CLINTON: I've looked around America. Here is what I think. I think every state should be given a list of every job that's been vacant for three weeks or longer. Posted. I think every state should have a pot of training money, and they ought to be able to go to the employer and say: What do you want? We will give you the money to train these people or we will give it to the local community college. And they can get the training while they're still going on unemployment. That helps the whole economy.
CLINTON ON BANK LENDING
CLINTON: Willie Sutton used to rob banks because that's where the money was. That's what we need. You don't need to rob them; we need to figure out what would give them the confidence to loan the money.
CLINTON ON OBAMA
CLINTON: My view is, the President has done a better job and the Congress supporting him has done better than most other people think, according to the polls. But I don't blame the people. They only hire Democrats when they need things fixed and they don't feel fixed.
CLINTON ON U.S. AND JAPAN
CLINTON: We're obviously trying to avoid what happened to our friends in Japan in the previous decade when they had more conventional real estate bubble burst and they couldn't work through the debt. So all they had was a stimulus, and they sent a stimulus that was as a percentage of their GDP makes it look like President Obama took us out for a hamburger on the weekend.
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