Doug: Realizing that you probably hit the "reply" button to generate your response, I want to make it clear that I was merely passing along Rubinstein's comments to the list inasmuch as I received them privately from Aikya Param, who is not a subscriber. Having done so, I do not want his remarks to be construed as my position, and therefore it could be misleading to say: "Michael Eisenscher wrote [quoting the ineffable Joel Rubinstein]:" in introducing your own comments. I suppose that is one of the hazards of forwarding other folks' comments. At this point, unless I receive some really stellar and unique contribution, I intend to withdraw as message intermediary regarding the subject of microcredit. So, put your rapier back in its scabbard. {:--) In solidarity, Michael