Former Morgan Stanley Chairman and CEO John Mack spoke with FOX Business Network’s (FBN) Maria Bartiromo about democratic presidential candidate Hillary Clinton’s email scandal. Mack said, “I think it’s just a series of issues that people want to bring up and it’s politics.” Mack went on to say, “I think people are spinning a lot of facts. And not just on her, clearly on others.” Mack also spoke about the economy saying, “I think clearly in the U.S., it’s growing, there’s no question about that” and that “it’s kind of leading the rest of the world.”
John Mack on the Hillary Clinton email scandal:
“Well, I think she is straight. I do think the press, and some of it is affiliated here, have been really harsh. Every day you pick up something and read about an e-mail. As I see it, you know, a lot of these things that I’ve read about, they were not classified. And now the Justice Department or the Defense Department, State Department, is looking back, should we classify them? I think it’s just a series of issues that people want to bring up and it’s politics. So you go back what, three months ago? All we heard about was Benghazi. Now you hear almost nothing about Benghazi: it’s about e-mails. Who knows what the third leg is going to be? But I think what we’re going through is politics and I think people are spinning a lot of facts. And not just on her, clearly on others. So I’m confident — look, the way I made a decision who do I support is by looking at their record. I thought she was one of the best senators we’ve ever had since I’ve been in New York and I’ve been here for 50 years.”
John Mack on whether Hillary Clinton put our country in a vulnerable position:
“Well, you may have more information than me. I don’t know anything about how much information. I don’t think anyone knows yet. Let’s wait until all the facts are out. This is politics.”
John Mack on the economy right now:
“Well, listen, I think clearly in the U.S., it’s growing, there’s no question about that. And I think the Fed has done a great job in doing that. You do have job growth without question. You have a slower wage growth, but I think the U.S. economy is doing well. It’s kind of leading the rest of the world. There’s a view out there, without question, that we’re going to raise rates. I don’t know when. Most people ay September. But I think any raise in rates has to be very small because it’s still a fragile economy globally and I think it could impact the U.S., but I’m very positive on our economy.”
John Mack on where he sees the dynamism:
“Well, I think the dynamism is clearly in the tech sector more than anything else. And that can be healthcare tech, it can be just straight technology in business. If you look at a company which I’ve been involved with and on the board, Lending Club, peer-to-peer lending, it’s changing the way that loans are made to consumers. And now you have OnDeck; you have others doing the same thing. I see a lot of growth. If you look within the financial services sector and you think robo accounts and how that’s going to change the interface between investors and the brokerage business, is that going to change the paradigm that we have today? I think over time it will.”
John Mack on the markets:
“I like the markets, but I’m really invested in small startups. I love working with young entrepreneurs. I think technology is going to change everything we do and I’m turned on by it. And I learn a lot from these young men and women.”
