Microloans

So a number of years ago the idea of microloans came to the forefront with in impoverished countries. The idea was simple and very brilliant, give small loans to poor peoples so they could open businesses. In a New York Times article yesterday brings up what is a growing problem with microloans. The problem is many of the banks that are giving the loads. According to the article some banks are charging up to 100% on these loans.
This is just another example of how the idea of capitalism and capitalism in action are wholly different. The whole idea of microloans was to bring more people into the system so their lives could be better, a really great idea. But as soon as any large company finds out that there is money to be made they go to any ends that they can to do so. How much clearer does it need to be for people to see that capitalism is not moral, and that it leads people to immoral acts? It is an unethical system thats main goal is the accumulation of the most destructive of abstract notions, money. And it is the average person, the poor, and the weak that have to pay the price.

New York Times:
http://www.nytimes.com/2010/04/14/world/14microfinance.html?hp

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