Why is Muhammad Yunus a hero?
April 2, 2010 | industry, regulation | Comments (0)Because he extends credit to working people. From an op-ed on the website of the Center for American Progress:
I am confident that lending to low- and moderate-income borrowers can be reconciled with sound consumer and economic practices. When done correctly, this kind of lending can be a viable business for financial institutions. What’s more, its benefits are sweeping and tangible, with the results clearly seen within households, neighborhoods, cities, and states throughout the country.
Yes, an industry that extends more the $40 billion in credit to working people every year will have tangible benefits to households, neighborhoods, cities, and states.
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