• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia
Leadership

Hillary Clinton’s Goldman Sachs Speeches Don’t Matter. Here’s Why.

Geoff Colvin
By
Geoff Colvin
Geoff Colvin
Senior Editor-at-Large
Down Arrow Button Icon
Geoff Colvin
By
Geoff Colvin
Geoff Colvin
Senior Editor-at-Large
Down Arrow Button Icon
October 17, 2016, 1:30 PM ET
Candidates Hillary Clinton And Donald Trump Hold Second Presidential Debate At Washington University
ST LOUIS, MO - OCTOBER 09: Democratic presidential nominee former Secretary of State Hillary Clinton responds to a question during the town hall debate at Washington University on October 9, 2016 in St Louis, Missouri. This is the second of three presidential debates scheduled prior to the November 8th election. (Photo by Saul Loeb-Pool/Getty Images)Saul Loeb—Pool/Getty Images

In the olden days, voters during presidential races would get into heated arguments over such amusingly quaint topics as tax policy, health care, and the future of Social Security. Back then, the release of a major candidate’s paid speeches to a leading firm in a highly controversial industry – speeches that the candidate had refused to release, despite considerable public interest – would have been an important event.

Can you imagine?

Of course exactly that happened over the weekend, when WikiLeaks published transcripts of three speeches that Hillary Clinton gave, for $225,000 each, at Goldman Sachs conferences in 2013, shortly after she’d stepped down as Secretary of State. America’s response was a brief shrug by the minority of voters who even noticed the transcripts.

In those long ago days, the transcripts would have been scrutinized and analyzed with good reason. Bernie Sanders’s challenge to Clinton in the primaries forced her far to the left on several issues, and many potential supporters question the sincerity of her new string-’em-up attitude toward the big Wall Street banks, especially after the recent revelation that she has at least twice as many six-figure donors as Donald Trump. The transcripts, in which she’s distinctly friendly and flattering toward Goldman and the industry, would have attracted attention. But now the race has moved beyond policy, or rather beneath policy, to the personal.

In one of those transcripts, a clever questioner asks Clinton for her advice to someone thinking of running for president in 2016. Her prophetic answer, in part:

“Whoever runs next time has to have a very clear idea of where he or she wants to take the country and has to run on those ideas, because the election cannot be about personalities, participants sniping. All of the irrelevant stuff the day after the election sort of dissipates, and you wake up and say, okay, now what am I going to do?”

You can share Power Sheet with friends and followers here.

Assuming she wins, as now seems likely, she’ll wake up on Nov. 9 believing she ran on clear ideas and seeing her victory as a mandate to pursue them. But polling shows that most voters on both sides aren’t voting for their candidate’s policies; they’re voting against the other candidate. Instead of favoring a set of policies, we’re mostly antagonistic toward a person, whether it’s Trump the psychopath or Clinton the demon. When an election turns on personalities rather than policies, then when we wake up on Nov. 9, regardless of who wins, we’ll be asking ourselves, now what are we going to do?

About the Author
Geoff Colvin
By Geoff ColvinSenior Editor-at-Large
LinkedIn iconTwitter icon

Geoff Colvin is a senior editor-at-large at Fortune, covering leadership, globalization, wealth creation, the infotech revolution, and related issues.

See full bioRight Arrow Button Icon

Latest in Leadership

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • Future 50
  • World’s Most Admired Companies
  • See All Rankings
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Leadership

Jon McNeill with microphone in hand
SuccessCareers
Former Tesla president reveals the ‘single most important thing’ you can do for your career—it’s a habit Elon Musk and Warren Buffett share too 
By Preston ForeApril 11, 2026
10 hours ago
vicente
CommentaryLeadership
Ingersoll Rand CEO: here’s how employee ownership helped drive more than 8x enterprise value growth
By Vicente ReynalApril 11, 2026
10 hours ago
karp
Future of Workpalantir
Palantir CEO says AI ‘will destroy’ humanities jobs but there will be ‘more than enough jobs’ for people with vocational training
By Jacqueline MunisApril 11, 2026
10 hours ago
Berkshire Hathaway's Warren Buffett
SuccessWealth
Warren Buffett says ‘accumulating great amounts of money’ doesn’t achieve greatness—He still lives in a $31,500 Nebraska home and clipped coupons
By Emma BurleighApril 11, 2026
11 hours ago
AI promises to free workers from grunt work, but psychologists say those mindless tasks are exactly what our brains need to recover
AIworker productivity
AI promises to free workers from grunt work, but psychologists say those mindless tasks are exactly what our brains need to recover
By Marco Quiroz-GutierrezApril 11, 2026
13 hours ago
Three people sit behind a desk and look at the phone screen of the person in the middle.
Future of WorkConsulting
Meet ‘trendslop,’ the new, AI-fueled scourge of workplace consultants everywhere
By Sasha RogelbergApril 10, 2026
24 hours ago

Most Popular

Scottie Scheffler joined Tiger Woods and Rory McIlroy in golf's $100M club—and donated his entire Ryder Cup stipend to charity
Success
Scottie Scheffler joined Tiger Woods and Rory McIlroy in golf's $100M club—and donated his entire Ryder Cup stipend to charity
By Fortune EditorsApril 10, 2026
1 day ago
The Navy confirmed an ‘abundant amount’ of Uncrustables when the Artemis II crew lands. Smucker’s just offered them a lifetime supply
Politics
The Navy confirmed an ‘abundant amount’ of Uncrustables when the Artemis II crew lands. Smucker’s just offered them a lifetime supply
By Fortune EditorsApril 10, 2026
24 hours ago
The 'affordability economy' has created a housing market nobody predicted: Prices collapsing in the Sun Belt, soaring in the Rust Belt
Real Estate
The 'affordability economy' has created a housing market nobody predicted: Prices collapsing in the Sun Belt, soaring in the Rust Belt
By Fortune EditorsApril 11, 2026
13 hours ago
Warren Buffett says 'accumulating great amounts of money' doesn’t achieve greatness—He still lives in a $31,500 Nebraska home and clipped coupons
Success
Warren Buffett says 'accumulating great amounts of money' doesn’t achieve greatness—He still lives in a $31,500 Nebraska home and clipped coupons
By Fortune EditorsApril 11, 2026
11 hours ago
Mark Cuban admits he made a mistake letting go of the Mavericks: 'I don't regret selling. I regret who I sold to'
Investing
Mark Cuban admits he made a mistake letting go of the Mavericks: 'I don't regret selling. I regret who I sold to'
By Fortune EditorsApril 9, 2026
2 days ago
Schools across America are quietly admitting that screens in classrooms made students worse off and are reversing years of tech-first policies
Innovation
Schools across America are quietly admitting that screens in classrooms made students worse off and are reversing years of tech-first policies
By Fortune EditorsApril 10, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.