Title: Pagliuca says business experience has prepared him for politics

" Earlier today candidate Steve Ballard have visited understand he's a businessman who became a car of the Boston Celtics. Making his first foray into politics and -- hot Ted Kennedy's sense it naturally I had a -- questions here's the interview. -- a major part of health care debate on the national level open public versus private what's next we have a -- last -- reporting on senator Rockefeller's. Committee starting. Showing eighteen cents of every premium dollar. For most policies goes to administration including private jets -- 34 cents in individual. Plans goes to administration can we achieve real health care reform those kind of numbers -- the answer -- how to fix it."

" Well I think administrative costs are are terrible health care system we spent 2.4 trillion. And somewhere around 600 billion or administrative costs when you when you pushing paper -- fix it then legged out there you've got to I think first of all. Plan design -- He anymore standard plans what happens now is. There are fifty different plans from the one insurance company there's thousands church companies. So two to figure out how you do the billing and what the plan is just takes an endorsement times I think you need more standardized plan."

" What is Medicare now with some degree really I -- critics say 45%. -- Carlson but no private jets and that's roughly what that third to afford left should Medicare be a model for along the stuffing out."

" I think you can go in the direction of and second these incentives. You can bundled payments which again cuts administrative cost sese period hip operation. You get you get chart whoever it is 6000 often have operation you don't pay test by test. Or this day by day in hospital so it's real simple you have operation is 6000 dollars now they're complications or other issues you have surcharge on it. But there should be -- standard rate."

" That's the financial. Industry regulation proposed a pretty comprehensive plan. Does that include limits on executive compensation as some of the things Obama suggesting."

" We're looking at that especially. Tax deductibility of executive compensation over certain amounts. If you make it not tax deductible cost the company more than --"

" You can happen Murray and read the Goldman Sachs is handing out bonuses and sixteen point seven billion dollars at the same time the one out of ten Americans are our work doesn't strike you -- registration and negative way. But to be done if anything about that kind of I think obscenity what do you do."

" It's it's. It's outrageous. You know that we build -- of that system. And all the spell it out we now own pieces of different banks and and and car companies. And approach -- the cost is. When you keep interest rates down banks make it bigger spread in the making money now. So what can you do about it I think we have a look at part of that part of those bonuses I would call windfall and then -- look at some kind of windfall tax or some kind of payment coming of those --"

" The theory unique selling proposition what better expression and equipment from wrong is on my -- would business experience like create jobs all that sort of stuff. They're a downside the upside is that the downside is one you've worked on legislative things. Not having hands on legislative experience when you're succeeding arguably the greatest legislator. Who ever lived. How do you get up to speed another thing inside and out sort of thing but isn't that candidly a problem for you."

" Now I -- I actually not. If your business and -- businesses you have to understand legislation so I've been investing in healthcare which is regulated and investing communications which is regulated. So we have to understand the regulations you know inside and out. And it did the data regulations are -- set of documents now like a person so agreement. Probably less complicated -- purchases over him with all things you have to do. To buy business most those are my 209 Jupiter's long -- like that back then that maybe they're they're they're sometimes there's hooks up let's say I'm a businessman becomes."

" Elected leader conflict -- for -- one business leader who you would say this is a man or woman. Who's done what I wanna do I've moved from being a very successful businessman or woman to be very successful legislative who is that person."

" I think there's been -- and Mark Warner. You know he's in a very successful doing -- Mark Warner was the governor. And now he's -- good legislator and and I've talked to him. About the transition he's made it very well he's making a contribution -- and that's operational that was -- mean we're sensitive part time community imply for me it's got an odd thing about on the five George Washington. A Benjamin Franklin but I don't 'cause back in the day back of the day went. When people were merchants and farmers and they did government as as as as part of the program but they weren't they weren't 35 year forty legislators that think they had jobs."

" Is Mitt -- good example I'm not -- answer the question ever existed 10000 times including me about 1994. And support him he's your friend and mentor but is -- an example of that sort of transition from dozens of politics and success."

" Well I think that's a very smart to person and and he sees on the side offense for me but he's very smart person and and it is in his -- will make a difference in the Republican Party."

" If -- ran against the President Obama in 2012 to have your support."

" No I supported Obama heavily this election and I'm a Democrat and and I have democratic values and present Obama is going to be great president."

" That was an article in the paper today saying the guy who does your -- everybody thinks the world Tad Devine is the same guy who did the ads for Ted Kennedy against Romney. Criticizing Romney for his involvement as an investment kind of guy in this company and -- Indiana -- since after you said the picture was unfair. And inaccurate the germs are created fifteen years ago why is it inaccurate why it was an unfair."

" Well what I really said was I said that if you have to look at somebody's body of work. So when -- in the venture capital business it be great if every deal worked out fantastically. But you take risk. So if you make six out of ten. Deals work. That's a great track record and you create employment create jobs we've done that so it's a body were thinking if you look at one case of Margaret Martha -- do well on. And and you focused on that that's unfair Martha Coakley. It looked at one bad piece legislation that cup while support that's unfair to Mike up wanna."

" At first debate and I hope it's one of many at least televised debates was that the F Kennedy institute for the study of the Senate. We read a couple of days before -- was the -- but stepped into a defense appropriation bill. Was it twenty million dollar appropriation John carrier -- for this to fund the Kennedy elaborate ahead of us what we love Canada and lovely idea a lot of work that was wildly inappropriate business as usual in the United States senate. That kind of thing happen under senate Polly Walker and it was personal real problem that would happen to you."

" Well I think Ted Kennedy was a historic figure so I think we should remember him and it's great for the country remember him. I believe that that he should do bill straightforwardly. Earmarks are not the way to go. It's a hidden way to get money so. I would directly said let's spend the itself over John Kerry did that particular is that Saudi and his defense appropriations -- you know I don't know what John Kerry did but but but what I support is just straightforwardly. Spending the money -- our authorized the money. Through congress protect can turn off -- welcome it's good to see you thank you thank you so much."