How microlenders are pushing the poor further into poverty

The seed of Nobel Peace Prize winner Muhammad Yunus’ microfinance initiative has borne both sweet and sour fruit wherever it has been sowed.

His ingenuous efforts, according to the Norwegian Committee, have helped the poor break free of the poverty cycle. Unfortunately, his idea has in some instances also gone wrong and morphed into a blood-sucking beast that has wiped out all traces of happiness from the faces of hundreds of thousands of the poor.