On Thu, 18 Nov 2010, Felix Salmon was quoted:
> http://blogs.reuters.com/felix-salmon/2010/11/18/the-lessons-of-andhra-pradesh/
That's a surprisingly right wing take on it. To the right of the FT article he cites in the beginning, in fact, which blames it mostly on predatory lenders. It doesn't ignore the state agencies. It argues that there is a fundamental difference between non-profit and for profit lenders.
IMHO, the details provide detail, but don't change the point of the narrative. Does Salmon also think the sub-prime crisis wasn't about predatory lenders but we should concentrate our blame on government regulators?
Feh.
PS -- this of course leaves out the short-comings of microlending even its purest non-profit form. But that's another story, already well told here:
http://www.leftbusinessobserver.com/Micro.html
Michael