Transfer of power shows "great strength" of U.S. institutions, philanthropist David Rubenstein says
Billionaire businessman and philanthropist David Rubenstein thinks the peaceful transfer of power that is occurring even as President Trump refuses to concede the election shows the "great strength" of American institutions.
"The country's great strength has been shown by this. So when history is written, and it becomes clear that Joe Biden will be inaugurated on January 20, it'll be clear that the great democracy that we built has institutions that are so strong that they can overcome some concerns about the loss of the election that the president has," Rubenstein told CBS News chief Washington correspondent Major Garrett for this week's episode of "The Takeout" podcast.
Rubenstein is the co-founder and co-executive chairman of American private equity firm The Carlyle Group, as well as the chairman of the Kennedy Center for the Performing Arts, chairman of the Smithsonian Institution, chairman of the Council on Foreign Relations, and president of The Economic Club of Washington, D.C.
Highlights from this week's episode:
- David Rubenstein on the power of American institutions: "The country's great strength has been shown by this. So when history is written, and it becomes clear that Joe Biden will be inaugurated on January 20, it'll be clear that the great democracy that we built has institutions that are so strong that they can overcome some concerns about the loss of the election that the president has."
- On President Trump's plans for the future: "Generally when you lose, you go about and build your library. I don't think Donald Trump is going to just go build his library."
- How President Trump's potential 2024 candidacy could affect other Republicans: "It will freeze, for a while, those people who wanted to run for president in 2024 on the Republican side."
"I actually think that this is a good lesson in history and a good lesson in democracy, because the truth is the majority has won and has prevailed and I think the president knows that," Rubenstein said.
He acknowledged that Mr. Trump was unique among modern presidents because he was considering running for president again in 2024.
"Generally when you lose, you go about and build your library. I don't think Donald Trump is going to just go build his library," he said.
Rubenstein also said that he believed Mr. Trump's supporters were not going to "go away," but would continue to support him over any other Republican interested in running for president in 2024, at least at first.
"It will freeze, for a while, those people who wanted to run for president in 2024 on the Republican side," Rubenstein said of Mr. Trump's potential ambitions to run in 2024. "A lot of people feel intensely loyal to him, and he likes to appear in front of them."
For more of Major's conversation with Rubenstein, download "The Takeout" podcast on Art19, iTunes, GooglePlay, Spotify and Stitcher. New episodes are available every Friday morning. Also, you can watch "The Takeout" on CBSN Friday at 5pm, 9pm, and 12am ET and Saturday at 1pm, 9pm, and 12am ET. For a full archive of "The Takeout" episodes, visit www.takeoutpodcast.com. And you can listen to "The Takeout" on select CBS News Radio affiliates (check your local listings).
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