Chuck.
When I first got in to microfinance, under your leadership in the early 1990s, it was a big surprise to learn that 45% of economically active Americans (103.99 million) bank through credit unions, where they are de facto shareholders and benefit from profit sharing. While not universal, he drift of many MFIs to a profit-maximising model, benefitting a closed group of insiders, is a corrupt outcome to which regulators have been slow to react. The last page of Animal Farm comes to mind. Thanks for your persistence.
Hugh
From: MicrofinancePractice@yahoogroups.com <MicrofinancePractice@yahoogroups.com>
Sent: 18 August 2020 13:02
To: MFP <microfinancepractice@yahoogroups.com>
Subject: [MFP] Businesses Behaving Badly: The Troubling Parallels Between Microfinance and Facebook
Six weeks ago, I posted some thoughts on MFP about how microfinance and Facebook both became vehicles for activity that violated their original intents. Nextbillion has now posted an edited version of my post. Here is their intro paragraph and a link to the article:
Chuck Waterfield left microfinance five years ago, after working in the sector for three decades. He stopped using Facebook three years ago, after using the platform for about 10 years. As he explains, the troubling parallels between the two drove his decision to leave both. He explores how their business models have grown increasingly problematic over time – and why, without external intervention, things are likely to get worse.
Regards,
Chuck Waterfield
Posted by: <hugh@vsla.net>
| Reply via web post | • | Reply to sender | • | Reply to group | • | Start a New Topic | • | Messages in this topic (3) |
No comments:
Post a Comment