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Eric Hovde: “I bought my first Trouble community bank in 1994 and turned…”

Featuring: Eric Hovde, Republican | Former Candidate, U.S. Senate Wisconsin

BRINGING COMMON SENSE BACK INTO GOVERNMENT WITH ERIC HOVDE

Published April 12, 2024 | Video Starts at 03:17

And then that Ended up leading me to getting in the investment management business, managing capital for other parties, investing in the financial services industry. And then I bought my first Trouble community bank in 1994 and turned that around. and did very well on it. Took a lot of risk, took every dollar I had and enrolled it into this Trouble Bank. And fortunately it worked out. (03:17–03:26)

CLAIM

Asserts that Eric Hovde bought and turned around a troubled community bank in 1994.

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.

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Eric Hovde

“America is home to 33 million small businesses.”
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“We have about, oh, at that point, 18,000 banks, about 12,000 savings and loans.”
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“Over the last, oh geez, I hate to, you know, state kind of how old I am, but over the last, you know, 25, 30 years of, I bought probably oh…”
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“Clearly we're in the midst of a housing bubble [in 2005-2007].”
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“Goldman Sachs was packaging junk mortgage, selling them to their clients, but shorting the very stuff they were selling.”
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“Barney Frank admitted later, after they designed Dodd Frank, they said, well, this seems very favorable to the big banks and not too…”
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“It's small community banks and regional banks that provide the capital to our startup businesses and our small businesses.”
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“For a small business to go try to get a small business loan from a Bank of America or Wells Fargo or JP Morgan is a very difficult thing.”
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“It's our small community banking sector that makes us one of the most vibrant economies in the whole world.”
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“In the last three and a half years, we've added more debt to our economy and to this or to this government than our first 230 years of our…”
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“The interest costs on our debt now is the second largest expenditure after Social Security, above our Defense Department.”
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“The money supply grew by about 39%, the highest rate we've ever seen in our country's history.”
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“Real wages in America have gone down over the last three and a half years.”
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“We have $34 trillion of debt.”
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“We're losing 100,000 largely young people a year to fentanyl and the opiate crisis.”
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“Real wages, you know, your wage increase, you know, minus inflation, grew at the fastest pace. 8.2% under President Biden is declined by…”
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“Inflation is very difficult for [small businesses].”
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“Bernie Sanders pushed to pay people more not to work than to work during COVID.”
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“Joe Biden still letting government employees work remotely from home.”
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“They did an extensive study, I think it was 11, 12 years ago on the cost of regulation... estimated the cost to the economy was somewhere…”
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“We moved the headquarters of my banking organization out of Irvine, California to Salt Lake City.”
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“In markets like California, where it's become unaffordable and why so many people are moving out.”
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“Well, they're largely all red states. It's places like Utah, it's places like Texas, it's places like Florida that, you know, are booming…”
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“He got sued by all the health systems because they didn't want his website out there telling people what the cost of things were.”
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“The only way we're going to get control of our healthcare system is if we let our free market system work.”
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“They love touting things like the UK health system. Well, guess what, you need your knee replaced, wait for two or three years if you're…”
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“Most wealthy people will travel here to go access places like Mayo or the Cleveland Clinic and these health facilities.”
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“We are heading continuously down this path of socialized medicine.”
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“Testing in phase one, phase two, and phase three drugs is so expensive.”
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“The government is the problem.”
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“I'm competing against one of the most progressive liberal votes with Joe Biden 95.5% of the time.”
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