The World Of Micro-Loans

The difference between prosperity and poverty could very well lie in what's called "micro-loans." As Daniel Sieberg reports, these loans are having a big impact on the more than 99 million borrowers.

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[nacholibre48]

@crazysoccerman14 You are lending money to people with no capital and a absurdly high default risk. Of course the banks have to make up for that risk with high interest. You need to know how capitalism works. =P They are still much much better off with microloans.

[crazysoccerman14]

And how much money goes to all those middlemen? I wonder what the actual interest rate is that the borrower is paying pack.

[ACEGeorgiaGreenLoans]

This is great!!

[7boon]

Hopefully there aren't securitization of subprime microloans into Wall Street banksters.

[BinkieMcFartnuggets]

You offer a hobo one dollar and allow him to repay it on a graduated interest scale starting at 5.4% a month all the way up to 4,986% by 2011.

[jungenbum]

First! And cool.