Blackstone Group CEO Steven Schwarzman, once a fierce Obama critic, says he now has good personal ties with the President and has joined a White House initiative on hiring military veterans.
This is Jeff Mason at the White House were joined today by Steve Schwartzman from Blackstone. Thanks very much for your time you get you to tell us a little bit about why you're here it has to do with veterans. What this black still wanna do in this initiative well Blackstone would like to hire 50000 veterans over five year period. It's a really important initiative. For us. Because these people have done so much for our country. And we think this is a win win type of situation. We need people a lot of -- different areas and the people in the military are often very well trained. And really well suited. Two -- types of businesses. Expand on that a little bit what what specific skills would they bring you what you would be doing it here company. Well some of them are specially trained for example. I can RC world business. We're we're looking for paramedics. For which there are a lot of well trained people in the military. We have a lot of and he offers supervisors. Managers. As well as entry level position. For example. We on the largest hotel group in the world. -- -- And we have a lot of entry level people there. Suppose people up the chain. We have on this second marches. Security company. Allied Barton and that also has a similar type of skew. So altogether. Blackstone. Has 740000. People who work and -- companies which should make us about number fourteen. In the United States and the fortune 100. So there are a lot of different areas we can use qualified people dad used. Obviously -- supporting this initiative by the White House. How are your relations in general with the Obama White House right now he's been a little critical in the -- well my relationships and personal level are really quite good. With the president and mrs. Obama and sometimes at different points of view an individual issues but there are a lot of areas that are important. That people work together. And this is certainly one. And what do you think about moving on to some other policy. -- areas what do you think about what the president is doing taxes. And where you see that going for well the whole political realm. Whether it's taxes spending. Hold budget issues. A pretty complex and dissecting them one by one. Really isn't the most productive way to look at it I think. Really has to be taken as a whole and there. Three players in this drama. President. Republicans in the congress. Democrats in the congress. It's so getting it conclusion for me would be tough if and that. Those three groups of people -- tough times come in to any conclusions. He's not concerned about the Volcker Rule. I I don't completely understand the applicability of the -- rule. The US financial system looks like it's been reform pretty well. It's certainly behaving. By global standards and a very good way we. More capital than almost any other country in the world. We've got financial institutions are prepared to land. And I think we've staged a pretty good recovery. Because of the business people involved as well as the leadership. On the regulatory side. At a certain point of view you can screw this down. Sufficiently tightly did he start. In her -- with for an extension thanks very much for joining us this is Jeff Mason with Reuters at the White House.