Rebirth 79: I opened a bank in the United States

Chapter 832 Open and honest

Carter has always believed that in this world, no two people can fully empathize.

As for Jimmy Carter, that good old man who always smiles. Carter actually can't tell what he will think when he knows that he has created another "TV debate" for him.

Looking at Jimmy Carter whose expression suddenly became stiff, Carter suddenly felt a little ashamed.
Encouraging a former president, who was almost kicked out of the White House, to go to a place where he failed once, and experience past failures again is somewhat tearing the wound.
"Mr. Carter, I know. This may bring back some memories that you don't want to recall. But please forgive my selfishness, I can't be as self-sacrificing as you are"

"The trade conflict between the US and Japan is the most efficient way to alleviate the current high unemployment rate. After several years of hard work by Mr. Paul Volcker, inflation will be contained, and it will be soon. No matter what What do the people outside think, I think every American businessman will remember your contribution."

Carter stood up and bowed quite solemnly.
I would rather give up my hope of being re-elected, even when I was so angry with Volcker's "backstab". Jimmy Carter still chose that one, which is not good for him at all, but it is good for the recovery of the entire American economy the way.
From the standpoint of Americans, Carter believes that even if Jimmy Carter fails again, at least at the last moment of his presidential career, he has done what a president should do, reflecting the responsibility that an American president should have!
"In order to fight this inflation, you paid your own political life. The United States also paid. From 80 to 83, three years of economic recession! Three years of depression made it difficult to do business and the people were sad."

"I know you have always expected me to be a person like you who is willing to contribute to public causes. But sorry, I don't have such a high awareness now. I am willing to do my best to help facilitate this matter , because I know that if Japan can be forced to bow its head and reduce the impact of Japanese companies on the US market, this will definitely be a booster for the recovery of the US economy!"

"The market share lost by Japanese companies is enough to support hundreds or even thousands of American companies. If it spreads out, it will provide more than tens of thousands of jobs?! At this juncture, for the sake of the United States, I must support Mr. Reagan's re-election, in order to Anti-negotiations. Halfway! But I can't do things regardless of economic benefits."

"What's more, what TED represents is not just my own interests. Although the scale of TED is still small, and it is only limited to a small school like Yale University, I believe that in the future it can cover There will be more and more colleges and universities! The money earned from the program will be given back to the colleges and universities, and various scientific research projects that have been stagnant may have funds for this; some children who could not afford to go to school may also receive a sum of money. Bursary"

"Okay, stop talking! I know all this, I'm not that narrow-minded!"

Jimmy Carter patted the table with a bad face
"I am in favor of the TED project. According to your idea, it is very possible to make it happen. But as you said, in my impression, you are not a person who is willing to devote so much energy to public welfare. .You tell me directly, why do you do TED?"

"Tell me this answer, and I will promise you to participate in your show!"

"In order to make money!"

Facing Jimmy Carter's gaze, Carter looked at the past not to be outdone.
"In the past two years, on the bank side, the bill to abolish the cap on deposit interest rates and abolish Clause Q, I don't know if Mr. Carter still remembers it?"

"Perhaps in the eyes of all of you, my various businesses have been booming and thriving these years. But my pressure is very high! It's very big. Mr. Carter, I don't know if you have noticed the number of bankruptcies of small and medium-sized banks in these years more and more!"

"Last year there were only a dozen or so banks, but this year the number has reached 48. Next year, according to my estimation, at least 70 banks will declare bankruptcy."

"I don't intend to criticize anything. In the long run, it is a good thing to gradually lift restrictions on the banking industry. It is a good thing to give greater play to the pivotal role of banks in economic activities! But for us practitioners, this is It is completely beneficial to large banks. Small and medium-sized banks, under this wave, if they stick to their own banks, there is almost no possibility of survival!"

"If you don't raise the deposit interest rate, all the depositors will run away, you will die! If you raise the deposit interest rate, you will not be able to release usury loans. If you can't bear the accumulative interest of the deposit debt day after day, you will die!"

"Only those large commercial banks with huge funds; they have more and more relaxed business investment environment, and they use profits from other places to fill the shortfall of banking business can withstand this blow."

"Essentially speaking, everything I do is no different from them. I have to find ways to make money in various fields to fill this hole, and at the same time find ways to release loans as much as possible."

"In the current environment, there is almost no hope for normal loans. The long-term loan interest rate has broken 20%. No one dares to lend such a loan, so I can only focus on some. Not so normal loans!"

"Irregular loan?"

Listening to Carter's description, Jimmy Carter's expression remained unchanged.Make money, this reason is very appropriate!As for those explanations, Renzong believed half of them at most.
"Well, small unsecured lines of credit! That's where I'm looking! There's room, there's demand. And, there's not much competition!"

"Normal banks look down on this kind of loan. In an environment where payday loans almost monopolize the microfinance market, it is too costly and risky to hit this market."

"In order to reduce the risk of default, I targeted the group of college students. Compared with ordinary people, these people with higher education levels tend to pay more attention to credit, and their solvency is also guaranteed! Their employment opportunities will always be higher than those without much knowledge. The people who are here must be strong!"

Looking at Jimmy Carter who suddenly widened his eyes, Carter quickly explained:
"Don't worry, what I want to do is not a payday-style microfinance loan. The annualized interest rate of my product is currently only maintained at about 30%. My purpose is not to make a lot of money from it, but to... Live! As long as the interest rate can be offset against the interest rate payment, I will be content."

"Just like your reaction when you hear microfinance enter the campus, when most people hear microfinance, they will think of usury like payday loan sharks. This is obviously not good for my product promotion. I plan to lead the students Let’s do a good job with the TED project together, gain their trust in the process, and then gradually promote my microfinance products on campus based on the participants of these TED projects.”

(End of this chapter)