Muhammad Yunus, A banker in Bangladesh won the Nobel Peace Prize for giving out loans to the poor. A loan he dubbed as a Micro Loan has been given out in poverty stricken areas to people with ideas on starting some type of business. The businesses usually simple but range from a few laying chickens to a cell phone.
Up to date he has given out over a 100 million loans. That's a lot of paper work.
The usual loan consists of what most working Americans have in their pockets or approximately 200 dollars. Whats really strange is that he has a 99% pay back ratio. Imagine that. Another odd fact is that 97% percent of the loans are to women.
The banker is still being criticized because of his loan rates which is at least 10 % higher to the poor. Maybe they should look over here a moment, That's just happens in America as well. Poor people pay twice as much as the rich. 40 bucks for 200 dollars works for me if it would move my life in any way, unfortunately that's a months toilette paper in my home.
Whats does disturb me however is that as the story goes on, some of these villages are so poor that they deal in pennies or the equivalent. A woman had stated that she borrows 9 cents for bamboo to make furniture to sell at the market but by the time she is done with all she gets 2 cents as profit. The Banker conducted a study on the village and discovered that 47 citizens were in debt up to a grand total of $27.00 yes 27 bucks.
He being the noted humanitarian forked out 27 bucks and said here liberate yourselves. You can pay me back later.
A millionaire asking for 27 bucks back from some of the poorest humans on the planet. Most of us flick more than that into the hands of bums on the streets.
I am going to start asking those filthy bastards to start paying me back.
I do have a question though, is this the quality of a nobel peace prize winner or a clever banker.
Over a 100 millions petty loans with 20-40 dollar profits on it.
Do the math
