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Our next -- started up a small business to fulfill the American dream only that dream became a nightmare thanks to government regulation joining us our today.
The stern a precise corporate staging.
Dave was tour manager for Bon Jovi and meat -- and continues to provide technical support to the entertainment industry.
-- -- I imagine there -- a lot of companies.
That out there -- that could share your pain but what has changed a -- since you started your business what has changed in the regulatory environment.
It's more depth look up because -- you know we want to hire people all but to hire people we need to have -- business -- to have the business we need to have the equipment into the get the equipment we need to have the banks loan money and they just wanna do it.
So it's all a matter -- -- regulations of financial regulations that have stopped up the long processes are right date.
Yeah it's basically.
Some banks do you want -- loan but there's so many regulators inside the banks stopping -- -- they want and no.
-- -- Only lend money that there's no risk.
And -- -- you can blame -- you blame the new regulations for that that stop up of that the credit market.
Correct because they try to treat all the banks as one.
When certain banks didn't have problems.
In -- banks most of the problems became with the sub prime mortgages.
And now they're trying to do is treat everybody the same as opposed to addressing.
And regulating the people who took the chances.
The -- when most people think of financial regulations arise glass over they say rats -- somebody yet.
-- the big banks have to deal with -- doesn't affect our personal lives but it does doesn't it boiled down -- eventually end says it's a levels that normal people deal with.
Oh absolutely I mean we we take that -- grist of these loans to you know employed people we you know.
Where the last ones to get paid on this whole thing and when everything happens and when they come -- you.
And say we're calling -- no camera like why eight you know we haven't missed any payments we haven't done -- -- and -- and I will just how much -- this is adding more.
-- hurt -- and we put our -- to this.
In to this business.
So it it's a shame that the -- they don't want to help.
Us as a lot of people call us mom and pop businesses out there -- you know we.
When the economy hit me right down to like -- always said and we've been struggling to get back but I mean we've cut back now AT employees we had a bank Chase Bank that was willing to help this out they did.
Well Dave went when you heard about these financial regulations -- -- -- issued as a result of the crisis we went through did you think it would it would get bad into the point where would affect.
And tie up your business these -- -- now we we figured we were -- we were fine we would the big institution.
On the regulator made him call four million dollar note on us is he just didn't like the file.
He wouldn't give any specifics but we have twelve million dollars of equity against that -- and they still called it.
And do they do that banks themselves when he asked why you're not getting the money that you need -- blame the financial regulations.
Most of the time they do blame the regulators because they want to know risk loan.
Where if a regular if they do alone the regulator doesn't like it they make it -- it write -- off their balance sheet.
Well I hope -- -- -- and I think a direct hit you guys have been a -- subscribers by earth good good for you that's that's a kind of determination we need -- -- David Marla stern good to see of -- thank you very much.