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Politics : Politics for Pros- moderated

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To: Carolyn who wrote (253050)	6/4/2008 6:37:44 PM
From: Tom Clarke	Read Replies (3) of 793685

She worked for the Ford Foundation and promoted Microlending That appears to be a worthwhile endeavor. Microcredit From Wikipedia, the free encyclopedia Microcredit is the extension of very small loans (microloans) to the unemployed, to poor entrepreneurs and to others living in poverty who are not considered bankable. These individuals lack collateral, steady employment and a verifiable credit history and therefore cannot meet even the most minimal qualifications to gain access to traditional credit. Microcredit is a part of microfinance, which is the provision of a wider range of financial services to the very poor. Microcredit is a financial innovation which originated in Bangladesh where it has successfully enabled extremely impoverished people to engage in self-employment projects that allow them to generate an income and, in many cases, begin to build wealth and exit poverty. Due to the success of microcredit, many in the traditional banking industry have begun to realize that these microcredit borrowers should more correctly be categorized as pre-bankable; thus, microcredit is increasingly gaining credibility in the mainstream finance industry and many traditional large finance organizations are contemplating microcredit projects as a source of future growth. Although almost everyone in larger development organizations discounted the likelihood of success of microcredit when it was begun in its modern incarnation as pilot projects with ACCION and Muhammad Yunus in the mid-1970s, the United Nations declared 2005 the International Year of Microcredit. more at the link en.wikipedia.org She also began to engage in miscegenation (inter-racial relationships) as part of her attack on society How can the author possibly know this? Maybe she just liked the guy....

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