South Carolina Democratic debate transcript

Edwards: Well, that was a mistake, which we've remedied. It was simply a mistake. But if the question is, Brian, whether I live a privileged and blessed lifestyle now, the answer to that's yes.

A lot of us do. But it's not where I come from. And I've not forgotten where I come from.

Many people in the audience and the viewing audience know that my dad worked in textile mills all his life, and I can remember vividly -- my dad is here tonight. I was born here in South Carolina. I can remember vividly my dad after church once Sunday, when I was about 10 years old, taking us -- it's our whole family -- into a restaurant. I was dressed up.

I was very proud to be there, and we sat, got our menus, looked at the menus, and the waitress came over and my father said, "I'm sorry, we have to leave." I didn't understand. "Why? Why do we have to leave?" And I was embarrassed. I found out when we got outside the reason we had to leave is he couldn't pay the prices that were on the menu.

The reason I'm running for president of the United States is so that everybody in this country can have the same kind of chances I've had.

Williams: And, Senator, I have a follow-up for you. On modern day America, you've been of counsel to hedge funds.

Do hedge funds make America any better in any way?

Edwards: Well, I think what -- first of all, I think the financial markets are an important component of trying to figure out what it is we need to do about the fact that we have 47 million people without health care, 37 million people who wake up in poverty every day.

They play an enormous role in how money moves in this country. And I happen to believe that we have a responsibility to the people in this country who wake up every day worried about feeding and clothing their children.

And I think those people in New York who work in financial markets understand -- in some ways, at least -- what can be done and can play a significant role in trying to lift people up who are struggling.

I am proud of what I've been doing for the last few years. You know, I've been all over the country, organizing workers into unions and raising the minimum wage, and also working at a poverty center at the University of North Carolina.

Williams: I'm afraid time is up.

Senator Clinton, you represent the state of New York -- just mentioned. How is America a better place because of all these burgeoning hedge funds?

Clinton: Well, I think that America is a great place because we have an entrepreneurial economy. We have people who are willing to make stakes and new enterprises and invest their money.

And, obviously, one of the other reasons we're a great country is because we've learned over the years how to regulate that, so nobody gets an unfair advantage -- and that we, you know, have a framework within which our free market system operates.

Obviously, for me, it's exciting to represent both New York City, the global capital market leader, and yet I also represent a big state where there are a lot of poor people and people who have no access to health care. They don't have access to affordable college. They're worried about their futures.

So what we've got to do here is get back to having a Democratic president who will set the rules, so that we can continue to build our economy, we can inspire and incentivize people to take those risks, but we begin to repair the damage that has been done by this president and Republican Congress.

Williams: Senator, thank you.

Governor Richardson, you were one of the last people on this stage to call for the resignation of the attorney general, Attorney General Gonzales. When asked by a journalist why you were taking long to make up your mind about this, you replied, quote, "It's because he's Hispanic. I'm honest."

Is that the right way to make personnel decisions?

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