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 TIME on politics Congressional Quarterly CNN/AllPolitics CNN/AllPolitics - Storypage, with TIME and Congressional Quarterly

Transcript: Eizenstat accepts deputy Treasury secretary nomination

May 12, 1999

May 12, 1999
Web posted at: 4:49 p.m. EDT (2049 GMT)

STUART EIZENSTAT, NOMINEE FOR DEPUTY SECRETARY OF THE TREASURY: Mr. President, Secretary Albright, Secretary Rubin, John, members of the cabinet, members of Congress. Mr. President, I'm greatly appreciative of the confidence you've placed in me by making this appointment.

I've been privileged to serve you at home and abroad and your administration in a number of different roles. But of all of them I've felt particularly privileged to work with my long-time dear friend and colleague, and your great secretary of Treasury Robert Rubin, who will be remembered as the president said so well, as one of the most successful and influential secretaries of the treasury in all American history.

I look forward to the same partnership with Larry as Larry enjoyed with you, Bob.

I also appreciate, Mr. President, your willingness to continue to permit me to lead the administration's efforts related to Holocaust- era asset issues and property restitution, where I will continue to work directly with Secretary Albright and the State Department.

I've learned from my various positions in your administration, Mr. President, that one of our most fundamental strengths and sources of influence around the world comes from the strength of our economy, which you, Vice President Gore, Secretary Rubin, Deputy Secretary Summers, Gene Sperling and others have helped create.

The great American job-machine is the envy of the entire world. I take it as our essential mandate to do everything possible to continue the remarkable economic performance which the Clinton-Gore administration has given the American people and indeed the world at large. This means keeping American companies competitive by opening markets abroad and preparing our workers for the challenges of a new millennium.

Permit me, Mr. President, to end by expressing my love, affection and appreciation to my family, as Larry has done to his. My wife, Fran, my son, Jay, and daughter-in-law, Jessica, and her mother, Reesa (ph), the two grandchildren whom Jay and Jessica have given us, Manachem (ph), 22 months, and Brakof (ph), four days -- her first White House event, Mr. President -- my son, Brian (ph), his fiance, Erin (ph), my dear mother, Sylvia, my mother-in-law, Sarah Taylor, and only our fathers are missing, but I feel their presence very strongly here, for their unstinting love, their support, their devotion, and their sacrifice during my public service.

Thank you again, Mr. President.


CLINTON: Thank you so much, thank you, thank you.

Thank you very much, ladies and gentlemen, thank you.


Back: Summer's remarks


Robert E. Rubin profile


Treasury Secretary Rubin resigns (5-12-99)

Summers 'prepared' to step into Rubin's shoes (5-12-99)

Is there life after Rubin? (CNNfn, 3-26-99)

The Rubin rescue (TIME, 1-5-98)


CNNfn special report: Rubin resigns

U.S. Department of Treasury


Wednesday, May 12, 1999

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