Re: Microcredit, microresults

[Daniel Davies <dsquared@xxxxxxxxxxxxxxxx>]

thanks very much Patrick.  I have a piece coming up on the Guardian blog
tomorrow called "Three microcheers for microcredit" trying to cast some
vague aspersions on the subject, but I didn't feel like I had enough
material to really go in studs-up.  This is very good stuff.

best
dd

PS: presumably this is the same Daniel Pearl who got murdered in Pakistan?
By the way I went to the premiere of Steve Reich's "Daniel Variations" last
week and it is one of the most amazing pieces of music I've ever heard.

-----Original Message-----
From: PEN-L list [mailto:PEN-L@xxxxxxxxxxxxxxxx]On Behalf Of Patrick
Bond
Sent: 13 October 2006 17:28
To: PEN-L@xxxxxxxxxxxxxxxx
Subject: Re: Microcredit, microresults


Though five years old (I haven't looked for updated financial accounts),
the material below is not only a critique of Yunus's Enronesque
accounting, but also a telling internal debate amongst neoliberal
microfinanciers. Nobody much minded about tearing the roofs off women's
houses, but bad PR in the WSJ was a big concern. One World Banker asked
this - "Will the WSJ piece foreclose the possibility of a Nobel Prize?"
Apparently not...

November 27, 2001

Grameen Bank, Which Pioneered Loans
For the Poor, Has Hit a Repayment Snag

By DANIEL PEARL and MICHAEL M. PHILLIPS
Staff Reporters of THE WALL STREET JOURNAL