Discussion in 'Economics' started by Wallace, Dec 21, 2006.
In this page you'll find links to many microfinance funds that operate all over the world.
In my opinion Yunnus shouldn't have gotten the Nobel for Peace, but rather the Nobel for Econnomics. I think this model is going to have huge repercutions on worldwide poverty in the next 30 years.
he should have gotten the Swedish Prize in economics sciences in memory of Adolf Hitler. Just look at what they submit the people who accept their services. its sickening
this is not banking IMO, but more on the lines of charity, nothing wrong with that.
Its is charity. To the BANK, most of the money they make if because of cheap loans goverment gives them.
They collect the interest rate differential and can keep losing money on their loan side.
Then they go out saying how efficient they are and how low is the amount of people who defaults while trying to convert people to some sick collectivist ideal, its jonestown all over again
Can you expand on that?
I think some people will abuse this, I know mentality of people in the ex USSR, not all are bad of course, but I can see quite a few trying to scam this.
what a great organization. did you manage to see the special on frontline i think it was? was really interesting bit that interviewed the couple that started kiva and went into some details of how it operates....worth watching if you can find it or havn't already.
from the FAQ:
I applaud these people for trying to do something very positive. But I don't believe this model is sustainable. Everyone makes money in the deal except for the person lending the money. You are not a micro banker if you are giving out money for free.
This crap is unbelievable, charging the poor 20% interest for a friggin loan it's friggin roadside robbery marketed under the guise of charity. Charity, would be giving them the money at low interest rates, or no interest rates.
Then don't get me into all the ways that money can and will be skimmed along the way. From the guys running the non profit who will no doubt take home million dollar salaries for running the show, and then the collectors, who will no doubt add points on....just like the friggin mob.
Don't get me wrong....I love the concept....it's the middle men, and the one's controlling the cash that I have no faith in.
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