Word: n
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Dates: during 2000-2009
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...Imported talent helped Grameen rival Acción, a big player in Latin American microfinance, establish a presence in the U.S. in the early 1990s. And yet even after years of making loans to small and upstart businesses, Acción still isn't profitable - an example of the challenge Grameen faces if it thinks it won't have to depend on donations for funding...
...Acción has probably gotten closer to self-sufficiency than any other microlender by using technology and partnerships to boost efficiency. Acción Texas now underwrites loans for 12 different microfinance organizations, a pooling of talent designed to help all the groups more quickly remove their dependence on grants and community-reinvestment money...
...charges result from shifting electromagnetic fields that are always present, even in a vacuum, said Jeremy N. Munday, one of the study’s authors...
...investors out of $1 million--more than $20 million in today's dollars--in 1899. The cons have since grown: a Florida church netted $500 million in a 1990s fraud that promised God would double the money of pious investors. Boy-band impresario Lou Pearlman, in addition to foisting 'N Sync on an unsuspecting public, stole $300 million from clients over two decades. And citizens poured some $1.2 billion into Albanian pyramid schemes after the fall of communism; when the schemes collapsed in 1997, investor outrage toppled the government. Still, Madoff's $50 billion scam would be the biggest ever...
...Staff writer WIlliam N. White can be reached at wwhite@fas.harvard.edu...