Busted: Bankers and The Global Economy

April 20, 2008

Is Credit a Human Right?

U.S. banks have been quietly considering getting into the microcredit market in the effort to be more visionary in their growth. Besides, over the long haul, bankers see the growing microcredit market as a possible threat to their supremacy in the financial sector.

Banks in France, notably banks that began as village banks are deeply linked to the well-being of their community. For U.S. banks, that mindset is a considerable change in concept. French banks like Credit Agricole began to loan small amounts to the rural poor trapped by the old system of moneylenders. (more…)

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