Fox Business
Expand
Browse All Video
Watch Live

You're watching...

Is Bank Lending the Key to Job Growth?

Details

  • Description

    Entrepreneur Carl Paladino argues increased lending by banks will help boost job growth.

  • Duration 3:54
  • Date

Clips

Also in this playlist...

Latest Video

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

We have heard it before when it comes to an economic recovery it is all about job as far as may employment report will be an even sharper focus after yesterday's ugly ADP report on private sector jobs.

And send stocks in were free fall.

What's going to take to breathe life back into the stagnant labor market.

Our next guest says the answer.

Is banks she's an entrepreneur or former candidate for New York governor Carl Paladino -- that -- to have you banks that took quite a large statement what about banks.

Time for them get off the patent talk me out let's get out there put some credit put some money out into the economy.

Now -- they were allowed to make.

Great profits huge profits and they're sitting on billions and billions of dollars and are not being compelled or encouraged by the government.

To get that money on what is interesting coming from a conservative Republican to say -- -- banks should be should have their hands force because they say.

All these new regulations the 2800.

Page new financial regulation bill is preventing them from lending the money out is that is that true or those just crocodile tears.

When you when you want to make an excuse you're gonna make an excuse in this economy where the little guy -- -- So confused so frightened so out of out of sync with what's going on he can't project the future you can't toes kids what the future looks like.

He's afraid of this economy he's lost confidence.

Heidi and still account for our bank's lying when they say that -- new financial -- prevent them from giving out loans.

Who knows I don't know the answer I -- yeah I don't we all -- small print and obviously I'm not I'm not versed in it but they're gonna make every excuse a cat.

What are they gonna work together with the community and stop looking to -- their profits for the shareholders and specifically you're talking about lending I would imagine the small business small businesses small business at a restaurant -- for most of the growth -- small businesses also.

A little resistant to borrowing if they don't see the demand for their product.

Well that the demand will -- -- we're talking about.

The interference with the private sector -- private sector was was coming back it wants to come back it's there are right it wants to rebound.

But the government does everything they can understand and away.

QE two was a total bust.

TARP was a total bust they put money out there for short term bull last year that construction industry was wild and now in Buffalo, New York.

There's no construction does not -- one.

They've already soaked it they sold to for government workers union's trade unions okay they still did they they -- the mobile local governments to spend.

I'm unionized jobs into spend on and keeping local government steps going.

It was all a small -- -- -- but when you're saying that the bank's -- should be -- terms put now the -- how do you do that.

You you you create encouragement forum like.

Like give them some benefit if they if they do put the money out on the street if they loosen up their lending requirements we have the -- industry could employed.

Millions of people if -- -- -- going to gamble what's holding up.

Right now the people who have no confidence no confidence at all the banks have to loosen the credit.

Two to help them and nurture along -- confidence in the in the in the personal private community.

They have made they've gone they've gone from one end of the spectrum all -- over the other.

Okay from -- slowly nonsensical lending and now there's so conservative in lending located -- scared of people way.

The telling people you can't afford this house no matter what the heck you're making because you don't even know the value of the halls anymore because we don't know how far it's gonna go down.

-- you want to stop it.

Loosen up those requirements start letting people have access to money they'll start spending the money -- its beads got.

That's what I say -- -- -- the private sector wants to grow all the people want they want to forge the future.

With governments in the way.

They're they're they're messing things up this Geithner and and and and the fact that they're total what did you run for governor.

Carl Paladino who ran -- -- listen thank.

Load More