Bangladesh bankers to the poor win Nobel Peace Prize

My Way News ^

[BwanaNdege]

Well, it's about time! For once the Nobel Committee has chosen someone who is actually deserving of the prize. Although he could have won the prize for Economics also.

Micro-enterprise loans are a fabulous tool!

If you are not aware of what this is all about, check out their website at www.grameen-info.org.

[sonsofliberty2000]

I agree. I got worried when Cindy Sheehan said she had been nominated. This is a well deserved winner.

[knarf]

Wait a minute!
Before I go wasting my time going to some web site ... do you mean to tell me that if people are given the opportunity to improve their own lives (Hey Alice .. go to the mailbox and see if my check is in) .. that they will actually DO it?
(It is? .. 'bout time .. two days late) .. I mean .. why would someone want to actually work when (Yeah, open it up .. they better not screw me) .. there should be a system in place to 'take care of them?
(What? Three bucks LESS !!! )
Look, I don't have time to look at any web site .. I have to call my congressman.

[AirForceBrat23]

Fantastic. P.J. O'Rourke talked about this guy in his book "All the Trouble in the World". Seems the banker realizes that the backward strictness of islamic culture is part of what keeps people in his country poor.

[Doctor Stochastic]

This was an excellent idea. One problem jump-starting third world economies is lack of capital. Small-scale lending really helps.

[indcons]

The Grameen Bank has done stellar work in reducing poverty among deserving people in Asia. This is a well-deserved award.

Psst....what's happenning to the Nobel Peace Prize Committee? Weren't they able to find a suitable despot this time around? /sarc

[mnehring]

This really has to piss of Cindy 'Chavez' Sheehan who was all over it earlier this week saying she was in the running..

Instead, someone who... gasp... promotes the free market to end poverty versus Marxism.

[Kaslin]

I guess Cindy Sheahans dream just went pffffft

[randog]

I guess Cindy Sheahans dream just went pffffft

Cindy is very upset by the decision:

[JustDoItAlways]

While I like these microloans when they are manged properly, what does this have to do with Peace.

I suppose it is possible that these little loans help get a free-enterprise economy working and when it snowballs, the economic development generated keeps people working and trying to make money rather than starting wars and causing trouble.

But Bush should have really gotten the Peace Prize.

[Ready4Freddy]

Interesting 'code of borrowing ethics', or whatever one might call it:

The 16 decisions of Grameen Bank

I found it instructive to try to put myself in their place to help understand the point from which these borrowers are starting.

[Uncle Miltie]

"The secretive five-member Norwegian Nobel Committee said the elimination of poverty was a path to peace and democracy."

Eliminating poverty has worked so well for peaceful Saudi Arabians that they're exporting Wahabbism world-wide.

Latest news out of Bangladesh: 65,000 Saudi-Funded Madrassahs are churning out the students. Look forward to one of their graduates making an impact near you!

[RayChuang88]

Why can't the Mexicans use the Grameen Bank model to help their poorest citizens? This would work fabulously in southern Mexico, especially the Chiapas province where hilly tropical climate would be perfect to grow a long list of highly-profitable agricultural products, especially high-quality coffee beans. With the right financing, the poor natives of that region could make a huge amount of money becoming the big rival to Colombia in terms of high-quality coffee production (Starbucks would snap up that production in no time flat).

[scory]

Last year my church ran a presentation about this "micro-lending" work. It is way cool. It doesn't take much money to set someone up in a small business in much of the "third world". Shoe makers, vendors, artisans - these were the people who would borrow a couple of thousand $ or so and get themselves started. Had a good success rate and was making money on the loans (the rates are quite low). I remember thinking at the time I saw this that the person who thought this up and then had the courage to actually try it ought to get some real recognition for doing good in the world. I guess he has.

[You Dirty Rats]

Bravo to the Nobel Committee!!

The worthiness of this recipient is proven by the kudos coming from Freepers in support of this award to a MUSLIM!!

Puts a big hole in the theory of some that Freepers are a bunch of mindless bigots and haters. Fact is that we will always applaud people who make their own success and add to the world instead of take from it.

[JimSEA]

I absolutely agree. When someone has the real opportunity to open a noodle shop or something similar, the economy explodes. See The example of the Asian Tigers where just opening up the economies resulted in an economic boom. The key problem is still corrupt governments who restrict, through one means or another, most citizens from advancing (see Burma as a prime example). Good decision by the Nobel Committee for a change.

[Jason_b]

I am guessing Bangladesh has no minimum wage laws. This is probably advantageous in that it doesn't price out of the market individuals who could work but whose productivity is less than the minimum wage at that time. Minimum wage laws are another way of telling the poor that they can't have a chance to start low and work their way up because they are unable to start at some low point that is arbitrarily higher than they can manage. Minimum wage laws are just another form of protectionism, which those who have minimum wage jobs or above are protected from competition by those who would accept lesser wages for the same work.

[soccermom]

Wait!!!!! This was supposed to go to Cindy Sheehan! Where is Tanya Harding's entourage when you need it? Did the Moveon.org thugs not get to the committee in time?