I'm really tired of people that don't know what they're talking about, and then when you show them something, all they can do is search out a single phrase that they can spin, out of context, to suit their agenda.
If you don't get it, then that's your problem. I'm done with you. Don't post to me anymore. Thx!
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Nobel Peace Prize winner Muhammad Yunus was an economics professor in Bangladesh when he launched the Grameen Bank in 1983. Since then, the innovative bank has made small loans to almost 7 million of the poorest people in one of the world's poorest countries.
Grameen's "micro" loans, usually totaling less than $100, go to people with no collateral. Borrowers (almost all are women) use the money to start small village businesses, which often catapult them from squalor to self-respect.
Grameen, which is profitable, has a repayment rate of nearly 99%. Unlike wealthy borrowers, the poor know that if they default on one loan, they'll never get another, Yunus says. The micro credit concept has spread to more than 100 countries, including the USA. Now, Yunus, 66, seeks to rally support for eradicating poverty in this century. Last week, USA TODAY's David J. Lynch interviewed him in Washington.
Q: Do you really believe that poverty can be eliminated or is that just a motivating goal?
A: Poverty is not something created by the poor people. It is created by the system. ... One good example in the context of this country would be the welfare system. The welfare system is designed to keep people in poverty rather than take them out of poverty. ... We should be aiming at creating poverty museums where children will go to visit ... to find how poverty used to be.
Q: Is Grameen Bank easing suffering or really changing lives?
A: We have now an environment where 100% of the children of Grameen borrowers are in school — not only they're in school, they're graduating ... going to college. Many are becoming professionals, doctors, engineers. The sons and daughters of (illiterate) borrowers. ... So you're creating a dramatically different generation.
Q: Why do you say that access to credit is a fundamental human right?
A: Fundamental rights include the right to food, right to health, right to education, right to work and so on. ... OK, who guarantees that right to food to me, that right to shelter to me? ... Is it my government? ... (No), basically it's the citizen who has to do it. ... Right to credit means right to self-employment. Credit means I can take money and create income for myself, so ... if everything else fails, I can take care of myself.
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