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:[EMAIL PROTECTED] Behalf Of Patrick Bond Sent: 13 October 2006 17:28 To: PEN-L@SUS.CSUCHICO.EDU 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
