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You know it's a good summer to start -- business new businesses are is -- getting money from banks.
Events are easily giving money to new businesses.
But Gold Coast bank CEO Joseph Perry.
He's not getting too comfortable -- that wants new regulations come down.
These good times are over I mean the clock that's ticking on the good times it just start it absolutely everything we've experienced small banks like Gold Coast bank.
Having been experience and an increased in -- demands companies come in this summer time.
We have a passion for lending they have they want to borrow they want to build inventory.
And expand their businesses.
What happens at that point is they come to the small banks because we give them.
Personal service and they have access to his senior executives that they don't get from a larger banks even from a real estate point of view.
What we have is.
Increased borrowing for expansion of there.
And we also have.
Real estate investments going off -- so it's booming things are moving my things are good what do you -- absolutely good however.
What happens is the constraints by the government as they begin to tighten the noose around the banks.
Because they're requiring higher capital ratios they're recording the banks to keep more cash.
And what this does is.
It does not enable the banks to lend the money that they want to -- -- so counterintuitive that a government would say the banks did thank you a little money but also keep more money in the bank at the same time -- absolutely -- but see that's what the government.
Has been doing for the past number of years they speak -- -- -- sides of their mouth.
And they put the constraints on the bank which -- small business who want to grow and -- more people.
Bill do you still has small bank owner CEO.
That it's it's been unfair that you guys are paying for the -- of the big boys on Wall Street.
Absolutely you look at you look at where the lifeblood of the economy -- -- with a small banks none of the small banks -- big bailouts.
None of the small banks had.
Nearly the problems that the larger banks through and we care more.
-- -- -- The small businessmen well what about the idea that we hear from so many experts at -- who worked for -- out the entire economy would have imploded today.
In other awards that guys like you.
Yeah what you do -- Q and that serves a purpose but there's no way collectively -- -- small banks to step up and fill the breach if we were let through three these big banks all.
Absolutely not statistically.
What you have is the small banks if you take New York State.
Of the small business lending in New York State 90% 90% and we only hold.
About 40% of the assets so that's totally wrong when it comes to the small banks.
So what it -- to -- and these big guys are so politically connected so it's enough time because we know guys go from Goldman Sachs the Washington DC.
From JPMorgan Washington DC and back import -- you know.
And it's just like they have this unholy alliance it's them vs the world and -- get all of our money the taxpayer money to break the -- -- time for punishment.
A guy like -- suffer more than they won't.
Absolutely and -- that we can we break that -- you hit the nail on the head.
Right with the fact that they're more politically connected and they have more money.
To donate to campaigns.
What really -- happen is the government passed to see and take notice of the smaller community banks and we've been trying.
To make that happen but again it's an uphill battle and it's very very difficult -- but.
We are the lifeblood.
In the country you -- statistically it could be -- Nonetheless and -- I know for a fact that I think most of our viewers and we thank you fort.
I hope you got to get through -- -- Dodd-Frank nonsense and all those Basel III nonsense then.
Keep this thing going because it feels like we're finally getting a little bit attraction and you should take about that you guys have done a great absolutely thank you very much got it I appreciate.
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