Bill Clinton: “Let me say, many years ago, before I ever became President, my wife and I had a long talk one night with Hugh McColl…”

“Let me say, many years ago, before I ever became President, my wife and I had a long talk one night with Hugh McColl about investment in low income areas in America. And we told him--we talked about the Grameen Bank in Bangladesh, which basically was the pioneering bank in the Third World, starting very poor people out in businesses and actually making good money doing that. And both Hillary and I at various times in the last, probably 10 years, have had other conversations with him about it and then with others involved with NationsBank. But I was particularly pleased that not long after you announced your merger plans, that the bank's 10-year plan for reinvestment in communities, including direct loans to provide initial capital to people who otherwise wouldn't have it, was announced. And I want to tell you I very much appreciate that. I think it will make a huge difference. These people prove that they need a hand up, and they do right well if they get it. Vivian, would you like to talk about your experience? [Vivian Reid, owner of the Kaffee Shop, described how she and family members had started the business, which thrived, in part, because new market initiatives had provided others in the area with the means to support each other.]”