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the impact the leverage of the assets we have been for some reason that i i'm not
quite clear on were more comfortable buying cds from bank of america
now we are from a few development bank even if the seat both cds have the same
profile and both of them are secure
in our case the stakes by f_d_i_c_ so your risk exposure despite genital
and yet for some reason we like hain more money for the wall street folks
that we do for the mainstream folks like and understand that the best of the pet
peeve soldiers but that out there and move on
beta and so the ideas that increasingly they're a whole host of the
polls strategies of funds that investors are able to move their
investments into in order to be
maximizing the greatest value in walls matthews rapidly growing field of social
financing whatever we want to call me i'm i'm with you on the on the dot
and because it's really frustrating have this kind of like you know catherine e
of terms we have to work through so it's very exciting at one level
because it's at their the fact helped enormously by the financial crisis
we don't have to sell ethics and more it's experiment to supply side story
what we're looking at finance uh. and increasingly nosey
or or building a social capital market from the san supply-side perspective
and there's a couple of the very important missing
tools or links their and the biggest ones that didn't have courts
you know we talk they do diligence and so on and yes of course a free investors
going to do the due diligence waited social investor whether it's it and
mainstream investors n i don't know that lose their shirts in
one case and they want to make sure that they make their social
return it on in the other and into your reference
all the time to constituted to risk mitigation
one of the ways to mitigating risk is to be to work in a more coordinated manner
with those on the finance and as a legacy for that as well
you know your work with the i_r_a_ d_f_ goes back to the nineties you know if
you would have you wouldn't have dreamed that you would have had this kind of me
uh... utah today's no at that time i was working at the time and very early
nineties and michael credit and and and i think that make a because your
gripped by the people founded the first like a cousin station canada
uh... and you know we were really was baby steps configured to keep you saw
that we would never have known going or where this week registered go broke
our work and this is my own experience and many of us
in canada was to work very closely with
intermediaries uh... who were able to
badin help on the demand side not just to
define not just to identify
where the investment with take place but also to work with these potential uh. an initiative
sees call them and if you will again we get ribbit.com social enterprise to happen cooperative
community-based enterprise new to increase the investment readiness of these in many
cases fragile uh. and a crisis at the time that we
redlined relaxed between investment capital
if we fast-forward those intermediaries of granting the statesman
when i think uh... the year do you think they changed their
name that used to the national association of community
long-planned another national between catholics as the issue
ecp trade associations that provide help on the demand on the supplies i
think this is this is a critical options in
at anew risk that if we build the social capital market
that begins to go belly-up because stream up and the great things without
the preparation of the enterprises the organizations at the green investing
notwithstanding due diligence one-on-one these fad that this is an this is a very
high risk seven risk mitigation can certainly be
addressed and i see george nodding and you know this is this is the reality of
communities to be able to integrate social tied in to youtube into into
territory into space with these station lives in
a lot of obviously and sharing your early are a_t_f_ work i mean you are
indian indian in communities you really need to take a lot of these things to
life on the big fan of the i_r_s_ five also
refer to speed in their webinars and learning or missing a very sophisticated
and it's interesting but it gets a worried because abu
with some could be hedge fund these not the same kinds of people
but there's a risk that it's going that direction in the sense that it's very
technically seductive it works
and it's very interactive it has a sweet keaton component to it
the distance becomes even greater
so i i hate ito et
i think what i'm saying is for all of us who were where they were practitioners
where or where where id
family researchers
at we can't do it all we have to work with with people like you and i just
heard the architects of the social financial we caught him
uh... into canyons
and then the other the at the clinic like to make you said there also seems
to be
and here in i'm unhappy caricaturing intently if he seems to be a one size
fits all
approach to this
fields mostly
if not entirely and debt
instants that we're talking yet
and uh...
this is a problem to in a few you know if you go at me nothing if they take
didn't leave the big picture and and going to
community college at community in ottawa are and feel with new york mad
began his interest absence of consideration of any credit for city of
inconsequential instruments
from debt to equity
the plane and create i a cream between and that's really doing
you know legislation nine and legal form becomes really important because your
you're creating high frequency
of instruments that
policeman this had this experience we created the first step resign equity
investment fund
contending with an in-person cooperatives nonprofit
and investment staged fifteen years tina silk
because we were realized that all the short term debt instruments were were
that preventing a lot of the senate prices from from growth from
consolidating from god
and that the other news today two p stardom
so the question of the lights light colored these
social enterprises whenever i want to call them i think it is critical
the diverse city of vehicle it is critical
have beaten the linking of demand and supply and working through
intermediaries greatly system
pushing to create them where they don't exist because they don't exist
everywhere uses is critical
and then the other missing pieces again ignites you have to be here you see
these contests specifically can can
week germany to too
libby u_s_ s_a_t_ k
and yet these models are often take it
uh... very much from the u_k_ anywhere
sitting because it's so much for calling in that area
but if we look at you cake picked a particularly right now
after the election and and the u_s_ citizen credible
initiative and innovation on the ground but very little government
adding gauge man
these ancient media res where it's possible abm can work more closely
with government to negotiate kinds of enabling policies that would be
necessary for
to continue to work so i suppose it's it's really a have been agenda for
further or or complimentary that has to be a fundamental on the policy side
are looking at risk mitigation
government and a different perspective
i think that europe points are well taken
and these days eve the risk of of investing in a bad
in the bed initiative was very very high
i think i'll stop there and some some comments