00:00As far as I'm concerned, frankly, looking at the building and getting stuck on the escalator,
00:07they still haven't finished a job. They still haven't finished. That was years ago.
00:12The project was so corrupt that Congress actually asked me to testify before them
00:18on the tremendous waste of money because it turned out that they had no idea what it was,
00:24but they knew it was anywhere between $2 and $4 billion, as opposed to $500 million with a guarantee.
00:32Many years ago, a very successful real estate developer in New York, known as Donald J. Trump,
00:40I bid on the renovation and rebuilding of this very United Nations complex. I remember it so well.
00:48I said at the time that I would do it for $500 million, rebuilding everything.
00:52It would be beautiful. I used to talk about, I'm going to give you marble floors.
00:58They're going to give you terrazza. I'm going to give you the best of everything.
01:04You're going to have mahogany walls. They're going to give you plastic.
01:08But they decided to go in another direction, which was much more expensive at the time,
01:14and which actually produced a far inferior product. And I realized that they did not know what they
01:20were doing when it came to construction and that their building concepts were so wrong
01:24and the product that they were proposing to build was so bad and so costly.
01:30It was going to cost them a fortune. And I said,
01:33and wait till you see the overruns. Well, I turned out to be right.
01:37They had massive cost overruns and spent between $2 and $4 billion on the building
01:42and did not even get the marble floors that I promised them. You walk on terrazza. Do you notice
01:49that? As far as I'm concerned, frankly, looking at the building and getting stuck on the escalator,
01:58they still haven't finished a job. They still haven't finished. That was years ago.
02:02The project was so corrupt that Congress actually asked me to testify before them
02:09on the tremendous waste of money, because it turned out that they had no idea what it was,
02:15but they knew it was anywhere between $2 and $4 billion, as opposed to $500 million with a guarantee.
02:23But they had no idea. And I said it cost much more than $5 billion.
02:26Unfortunately, many things in the United Nations are happening just like that,
02:32but on an even much bigger scale, much, much bigger. Very sad to see whether the UN can manage to
02:40play a productive role. I've come here today to offer. Thank you very much. Very much appreciated.
02:48And I don't mind making this speech without a teleprompter, because the teleprompter is not
03:01working. I feel very happy to be up here with you, nevertheless. And that way you speak more from
03:12the heart. I can only say that whoever's operating this teleprompter is in big trouble.
03:42Thank you very much.
03:43Thank you very much.
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