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...number of factors necessitate these high rates. The loans are risky, and the banks spend a lot on operating costs to distribute loans to peasants fanned out across the countryside. So even though the interest rates may seem exorbitant to an outsider, the margin of profit can be very slim for the banks. Another misconception about microfinance is that the clients of microfinance banks are escaping from poverty. My coworkers and I made attempts to find success stories among the beneficiaries of the numerous loans that our bank had distributed. We harbored hope that we could find one borrower...

Author: By Charles A. Lacalle | Title: Finance in the Third World | 8/8/2008 | See Source »

...that the Illinois Senator wasn't ready to fight the hard fight for working Americans. Clinton beat Obama in most of the last 13 primary contests, including wins in several industrial swing states that could decide the November election. The McCain campaign hopes Obama, who holds a stable but slim lead in national polls, does not realize the danger he is in. "It's the oldest cautionary tale in literature," says a McCain adviser with a smile. "Hubris...

Author: /time Magazine | Title: A Whole New McCain | 8/7/2008 | See Source »

...movie beats down even the most stalwart viewer's resistance, in a Guantánamo of giddiness. The supporting actresses help out. Baranski, slim and large-mouthed, and Walters, wizened and hiding behind shades, might be Mick and Keith in a Rolling Stones girl tribute band, and they lend all their show-biz savvy to vivid renditions of, respectively, Does Your Mother Know and Take a Chance on Me. Seyfried, from the HBO series Big Love, is in full control of Sophie, the film's one sensible character. And Streep comes back to earth in a handsomely calibrated rendition...

Author: /time Magazine | Title: Take a Chance on Mamma Mia? | 7/17/2008 | See Source »

...increasing every year, and the price of parts was skyrocketing. Still, the FAA continued to assume that most parts were properly manufactured and safe. This last alarmed me: if the opportunity existed for making and selling counterfeit parts with little FAA oversight, then the chances of getting caught were slim. How could an unscrupulous manufacturer or broker pass up odds like that...

Author: /time Magazine | Title: FLYING INTO TROUBLE | 7/14/2008 | See Source »

...Abrams is rushing out a second printing of Letters to My Mother ($14.95). Says Michael Jacobs, president and CEO of Abrams, "We wanted to help get the word out about Ingrid's plight, and now her release is clearly helping to sell the book." The slim volume, the first document written by Betancourt, 46, about her captivity, is a coup for the New York City publisher. It contains a passionate foreword by Nobel Peace Prize laureate Elie Wiesel, who pleads, "In the name of her humanity, and of yours, I implore you to listen to this voice." It also contains...

Author: /time Magazine | Title: Betancourt's Surprise Best Seller | 7/11/2008 | See Source »

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