| 00:00:04 |
HOST, -
FIND JOBS IN THE MARKETPLACE AND HAVE TO CREATE THEIR OWN. MICROLOANS GIVE THEM THE INVESTMENT CAPITAL TO GET STARTED SOME BASIC ACTIVITY -- RAISING...
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| 00:00:22 |
GUEST, -
HOST: IT YOU ARE IN AFRICA, HAITI, HOW DOES THIS WORK? HOW'D YOU GET THE CONTACT, WOULD YOU GET THE MONEY -- WHERE DO YOU GET THE MONEY, HOW TO PAY BACK...
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| 00:00:44 |
HOST, -
HAS BEEN REPLICATED AROUND THE WORLD. THEY SAID A LOCAL ORGANIZATION STAFFED WITH LOCAL PEOPLE THAT GOES INTO THE URBAN COMMUNITY, THE VILLAGE, AND SAY...
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| 00:00:59 |
GUEST, -
FOR YOU, AND WE WILL MAKE IT EASY FOR YOU TO REPAY IT COME OVER THE COURSE OF A YEAR IN MANY CASES, AND THAT WILL GIVE YOU TIME TO GET YOUR CAPITAL...
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| 00:01:33 |
HOST, -
A LOOK AT WHAT WAS HAPPENING IN THE URBAN ENVIRONMENT, CHICAGO, HOW IT WAS BEING APPLIED THERE, AND THAT IS WHAT THE BOOK COVERS.
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| 00:01:40 |
GUEST, -
HOST: I WANT TO SHOW THE AUDIENCE SOME THE PHOTOGRAPHS FROM THE BOOK BY OUR GUEST, ALEX COUNTS, THE PRESIDENT AND CEO OF THE GRAMEEN FOUNDATION. IF...
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| 00:02:02 |
HOST, -
IN THESE COUNTRIES ARE CORRUPT. GUEST: ABSOLUTELY. THE PETTY CORRUPTION THAT IS COMMON IN THESE COUNTRIES IS SOMETHING THAT MIGHT GROW FINANCE HAS TO...
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| 00:02:27 |
GUEST, -
TECHNOLOGY ENABLES MICROFINANCE TO GUARD AGAINST CORRUPTION AND KEEP IT CLEAN. HOST: IN TERMS OF THE MECHANICS, IF YOU WANT TO START A BUSINESS, AND...
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| 00:02:57 |
HOST, -
ONE OF THE GENIUS THINGS THAT HAS BEEN DEVELOPED IS REQUIRING A PEOPLE TO JOIN A SUPPORT GROUP OF OTHER
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| 00:03:05 |
GUEST, -
ENTREPRENEURS IN THEIR VILLAGE TO AGREE TO SUPPORT EACH OTHER IF THEY GROW THROUGH THE PROCESS OF EXPANDING THE BUSINESS. THIS CREATES A PRESSURE AND...
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| 00:03:44 |
HOST, -
STUDY OF STUDIES AVAILABLE ON OUR WEBSITE. IS THE FAMILY GROWING THEIR ASSET BASE, IS THE INCOME INCREASING? AND WOMEN, THE FOCUS OF MOST MICROFINANCE...
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| 00:04:00 |
GUEST, -
ROLE IN DECISION MAKING IN PER COMMUNITY? HOST: ARE YOU SEEING THAT? GUEST: WE SEE THAT CONSISTENTLY WITH THE BEST PRACTICES THAT HAVE EMERGED OVER...
|
| 00:04:25 |
HOST, -
PRETTY SLIM. HOST: THE FOUNDER
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| 00:04:29 |
GUEST, -
OF GRAMEEN BANK IN BANGLADESH, KIND OF A MENTOR TO ME --
|
| 00:04:37 |
HOST, -
GOVERNMENT- FINANCED MICROFINANCE ALMOST ALWAYS FAILS. WHAT WE HAVE ALWAYS SUPPORTED, AND WHAT THAE GRAMEEN
|
| 00:04:50 |
HOST, -
FOUNDATION HAS DONE, IS FIND LOCAL POSITIONS -- LOCAL ORGANIZATIONS AND HELP THEM TO GROW. IN THE POLICIES FROM THE GOVERNMENT TO THRIVE, BUT MY FOR...
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| 00:05:46 |
HOST, -
IT WAS A DICTATORSHIP WHEN I WENT THERE THE FIRST HYBRID AS A RESULT, YOU HAVE A MORE RESPONSIVE GOVERNMENT AND -- WHEN
|
| 00:05:53 |
GUEST, -
I WENT THERE THE FIRST TIME. AS A RESULT, YOU HAVE A MORE RESPONSIVE GOVERNMENT AT ALL LEVELS. HOST: WE HAVE A TWITTER COMMENT. GUEST: WELL, ONE OF...
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| 00:06:21 |
HOST, -
MICROFINANCE. WE STARTED AN OFFICE IN SEATTLE, AND WE FEEL THAT WITH NEW OPERATING
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| 00:06:30 |
GUEST, -
SYSTEMS FOR MICROFINANCE, AN OPEN SOURCE DEVELOPERS AROUND THE WORLD, AND PUTTING IT TECHNOLOGY IN MOBILE PHONES ENABLING COMMERCE AND BRINGING TELECOMMUNICATIONS...
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| 00:07:15 |
HOST, -
THIS SOCIETY, YOU WANT TO MAKE GOOD ON YOUR LOANS, BECAUSE OTHERS ARE DEPENDENT ON HOW YOU PERFORM. IF THERE IS A DEFAULT, IT NORMALLY HAPPENS WHERE...
|
| 00:07:25 |
GUEST, -
FIGURE OUT A NEW PAYMENT PLAN WHERE YOU CAN GET A REPLENISHED LOAN FOR YOUR BUSINESS AND PAY THE OLD ONE OVER A LONGER PERIOD. THAT HAS PROVEN TO BE THE...
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| 00:08:14 |
HOST, -
BECA. WITH ALL THE ANTI HOUSING IN AMERICA, HOW COME WE CANNOT BUT -- BUT PEOPLETHE M -- THE EMPTY HOUSING IN AMERICA, HOW COME WE CANNOT PUT PEOPLE IN
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| 00:08:28 |
CALLER, -
THOSE HOMES? GUEST: WHAT I WAS WORKING ON MY BOOK -- WHEN I WAS WORKING ON MY BOOK, THE PUBLISHER ASKED ME TO GO AND SEE HOW THIS COULD APPLY IN THE...
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| 00:08:51 |
GUEST, -
IN A PUSH CART BUSINESS, DAY CARE, SOMETHING THAT COULD HELP THEM EARN MONEY. HOST: GARY ON THE REPUBLICANS' LINE FROM INDIANAPOLIS. CALLER: I HAVE...
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| 00:09:24 |
HOST, -
REALLY GETS TO THE PEOPLE THAT NEED THE HELP. BUT
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| 00:09:27 |
CALLER, -
I GUESS, TOO, WHAT REALLY BOTHERS ME -- EVERY 10 MINUTES, SOMEONE IN THE UNITED STATES DIES. PROBABLY BEFORE I FINISH THIS CONVERSATION, SOMEONE IS...
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| 00:10:42 |
GUEST, -
ABOUT WORKING WITH PRIVATE SECTOR ORGANIZATIONS, FOR-PROFIT AND NON-PROFIT, THAT CAN MEET THE FINANCING NEEDS OF THE POOR. WE FEEL THAT IS THE BEST...
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| 00:11:53 |
HOST, -
OR ANYTHING. THE LAST ONE I CAN REMEMBER WAS IN ARGENTINA
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| 00:11:59 |
CALLER, -
IN 1978 UNDER THE CARTER ADMINISTRATION. I WONDER IF YOU COULD ADDRESS THAT. GUEST: SURE. THERE ARE SERIOUS POPULATION PRESSURES IN DEVELOPING COUNTRIES,...
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| 00:12:27 |
GUEST, -
THEM MORE IN THE DRIVER'S SEAT AND HELPING THEM DETERMINE THEIR REPRODUCTIVE BEHAVIOR AND HEALTH. ONE OF THE STUDIES ON OUR WEB SITE SAYS THAT THE ADOPTION...
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| 00:13:47 |
GUEST, -
UNITED STATES, I WAS SURPRISED ABOUT WHAT YOU COULD DO WITH $1,000 OR $1,500. ONE OF THE PEOPLE I MET WHEN I MOVED BACK FROM BANGLADESH WAS THE FOUNDER...
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| 00:14:42 |
HOST, -
THERE WITH THE
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| 00:14:45 |
GUEST, -
GRAMEEN BANK, WHICH ONLY EXISTS IN BANGLADESH, AND SPREAD IT ON A GLOBAL BASIS. HOST: GAIL IS JOINING US FROM BLACKSBURG, VIRGINIA. CALLER: GOOD MORNING....
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| 00:15:16 |
HOST, -
I THINK IT IS A BRILLIANT IDEA TO
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| 00:15:20 |
CALLER, -
DO THIS. I AM CURIOUS TO KNOW, FIRST OF ALL, HOW MUCH MONEY DO YOU
|
| 00:15:24 |
HOST, -
HAVE OUT IN THESE LOANS TO THESE PLACES? I WANTED TO KNOW HOW YOU
|
| 00:15:29 |
CALLER, -
GO ABOUT SELECTING HOW MUCH FOR PEOPLE ON THE MONTHLY BASIS, AND WHAT KIND OF MECHANISMS TO USE TO REPAY LOANS? GUEST: PEOPLE REPAY THE LOANS PRINCIPALLY...
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| 00:16:03 |
GUEST, -
AGO IN INDONESIA, WHERE THE TSUNAMI HIT FIVE YEARS AGO, AND WE HAVE LOANS THEY'RE OUT, NEARLY $2 MILLION TO 16,000 WOMEN. THIS IS A TYPICAL KIND OF PROFILE,...
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| 00:17:03 |
HOST, -
TO RESTRUCTURE THE BUSINESS. THE POOR IN A
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| 00:17:11 |
GUEST, -
VILLAGE NEED TO RESTRUCTURE THEIR BUSINESSES. THAT IS WHAT WE DO WITH THE MICRO FINANCE PROCESS. HOST: OUR GUEST IS ALEX COUNTS, AND THE TOPIC IS THE...
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| 00:17:40 |
HOST, -
SAY THAT IT IS OFTEN A HEALTH CRISIS THAT HURTS THE ABILITY TO REPAY THE LOANS. I WONDER WHAT GRAMEEN IS DOING TO ADDRESS THIS CRISIS. >>
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| 00:17:56 |
CALLER, -
GGUEST: THERE IS NO ONE SOLUTION, BUT IT IS THE SINGLE BIGGEST REASON THAT PEOPLE HAPPENS -- THAT DEFAULT HAPPENS. WHAT I SAW LAST WEEK IN BANGLADESH,...
|
| 00:18:18 |
GUEST, -
STARTING ALLIANCES WITH HEALTH CLINICS, RIGHT NEXT DOOR TO THE LENDING OPERATION, SO THAT PEOPLE CAN GO AND GET GOOD CARE WHEN THEY NEEDED, AFFORDABLE...
|
| 00:19:10 |
HOST, -
OUR ORGANIZATION IS ALMOST ENTIRELY PRIVATELY FUNDED IN THE
|
| 00:19:15 |
CALLER, -
PAST WEEK RECEIVED A FEW SMALL GOVERNMENT GRANTS, BUT 90% OF OUR FINANCING IS PRIVATE. GRAMEEN BANK, THE ORIGINAL MODEL FOR MICROFINANCE, IS ABOUT 3%...
|
| 00:19:30 |
GUEST, -
THE LEADERSHIP OF THE BANK KEEPS TRYING TO BUY THEM OUT AT THAT SMALL PORTION. IT IS A VERY INNOVATIVE STRUCTURE, ALMOST LIKE A COOPERATIVE. HOST:...
|
| 00:20:05 |
HOST, -
CHRISTIAN ORIENTATION, TRYING TO BRING CHRISTIANITY TO MICROFINANCE.
|
| 00:20:12 |
GUEST, -
WE PARTICULARLY SEE THAT IN THE PHILIPPINES. MANY OF THESE ORGANIZATIONS HAVE A STRONG FAITH ELEMENT TO WHAT THEY'RE DOING. MICROFINANCE COMBINES THE...
|
| 00:21:03 |
HOST, -
LOOK AT ATHLETES, ENTERTAINERS, THEY HAVE NO OBLIGATIONS POLITICALLY. ALL THEY DO IS
|
| 00:21:10 |
CALLER, -
MAKE THEIR MONEY. THERE IS NO AGE RESTRICTIONS, THE NOTE CERTAIN LEVELS -- NO CERTAIN LEVELS, GATEKEEPERS -- IF YOU ARE AN ATHLETE, BASKETBALL, BASEBALL,...
|
| 00:22:10 |
GUEST, -
ENTERTAINERS AND VARIOUS TYPES -- CERTAINLY, YOU CANNOT GENERALIZE, BUT I WOULD SAY THAT LAST YEAR, I TRAVELED TO HAITI WITH THE ACTRESS YEARDLEY SMITH,...
|
| 00:23:24 |
HOST, -
EMPOWERS THE WOMAN WHO BORROWS, BUT IT HAS A SPILLOVER EFFECT ON OTHER WOMEN, WHO START TAKING CHARGE OF THEIR OWN LIVES EVEN IF THEY ARE NOT A
|
| 00:23:37 |
GUEST, -
CLIENT. LAST WEEK, WHEN I WAS IN BANGLADESH -- IT CHANGES THE WHOLE DYNAMIC OVER A COUPLE OF YEARS. WHO IS LIKELY TO BECOME A POLITICAL AND ECONOMIC ACTOR...
|
| 00:24:16 |
HOST, -
HAVE WATCHED MY GOVERNMENT SEND ALL THIS MONEY OVERSEAS, WHICH IS A WONDERFUL
|
| 00:24:23 |
CALLER, -
THING. BUT WHAT I DID NOT UNDERSTAND, YOU HAVE THIS YOUNG MAN ON TODAY, WHO IS AN AMERICAN -- WHY CAN'T WE FIX OUR OWN COUNTRY FIRST? HELP OUR OWN...
|
| 00:25:30 |
GUEST, -
FOREIGN AID, AND ARE A MAJOR FORCE IN COMBATING CLIMATE CHANGE, ONE OF THE ISSUES THAT HAS BEEN A HOT TOPIC RECENTLY. NATIONAL BORDERS ARE BECOMING LESS...
|
| 00:26:58 |
HOST, -
PLACE ON C- SPAN2. "WASHINGTON JOURNAL" GETS UNDER WAY AT 7:00 P.M. EASTERN TIME, 4:00 ON THE WEST COAST. THANKS FOR JOINING US THIS WEDNESDAY, AND HAVE...
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NOTE: The transcript for this program was compiled from uncorrected Closed Captioning.