IKN

a plague o both your houses

Restoring faith in capitalism

Sometimes I get the weirdballs mailing me with their “you commie dumbass” lovespreading. This is fine, cos as long as they’re taking it out on me they’re not bugging somebody that might give a rat’s ass about what they think. It’s also plain wrong, cos even my lefty pals recognize they have a capitalist on their hands.

But not the kind of screw-you, hatred-filled capitalism now preached North of the Rio Grande. Why not compare the attitude towards the world shown by Citi or Goldman to the attitude of Mexican bank Compartamos (COMPART.mx). Here’s an extract from today’s post from the evergreat Mexfiles featuring this bank. Click through for the rest (you’ll be glad you did).

Given that Compartamos works with the client to assure they are able to pay the loan, what started as a not-for-profit microlending service became a normal business in 2000 and the next year became the first microlender to issue debt in the capital markets. In 2006 it was transformed into a “normal” commercial bank… with one important difference. It’s not only considered one of the best employers in Mexico, it’s doing what banks aren’t supposed to do… turn a healthy profit in an economic slump

CONTINUES HERE

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