Title of Article:
"Nobel laureate faces fresh trouble over his banking tenure"
Author of Article:
From Farid Ahmed, for CNN
Date Written:
August 02, 2012
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Summary of Article:
Yunus, founder of Grameen Bank, created it three decades ago, to help with poverty. The Grameen Bank model was replicated in many parts of the world while its work gave out increasing attention to microcredit. The bank is known to making small loans to poor people who would not qualify for standard bank loans. Yunus and Grameen Bank won the Nobel Peace Prize in 2006. He was also awarded the American Presidential Medal of Freedom and a U.S. Congressional Gold Medal. Shortly after this, the government tried to take over the bank. The Bangladeshi Cabinet, headed by Prime Minister Sheikh Hasina approved a draft law that reduced the power of Grameen's board and allowed the cabinet's government-nominated chairman to be the bank's managing director. Finance Minister A.M.A. Muhith at the time said the government, which owns a 25% stake in Grameen, had not taken any action against the bank and that the bank was performing well without Yunus.
Thoughts/emotions/observations:
My thoughts about this article is that Yunus should be the one to run the Grameen Bank, not the government. He started the bank off by finding it and worked for it as the director for the last 3 decades and i think he should continue doing so. I think the only reason that the government's taking it over is because they just want the money.
How article ties to political life:
How the Grameen bank ties to political life is that the bank has given loans that they earned to try to help poor people who are in need of money in their country. This is of great importance to much poverty that is in the country.
"Nobel laureate faces fresh trouble over his banking tenure"
Author of Article:
From Farid Ahmed, for CNN
Date Written:
August 02, 2012
Click here to view this article:
Summary of Article:
Yunus, founder of Grameen Bank, created it three decades ago, to help with poverty. The Grameen Bank model was replicated in many parts of the world while its work gave out increasing attention to microcredit. The bank is known to making small loans to poor people who would not qualify for standard bank loans. Yunus and Grameen Bank won the Nobel Peace Prize in 2006. He was also awarded the American Presidential Medal of Freedom and a U.S. Congressional Gold Medal. Shortly after this, the government tried to take over the bank. The Bangladeshi Cabinet, headed by Prime Minister Sheikh Hasina approved a draft law that reduced the power of Grameen's board and allowed the cabinet's government-nominated chairman to be the bank's managing director. Finance Minister A.M.A. Muhith at the time said the government, which owns a 25% stake in Grameen, had not taken any action against the bank and that the bank was performing well without Yunus.
Thoughts/emotions/observations:
My thoughts about this article is that Yunus should be the one to run the Grameen Bank, not the government. He started the bank off by finding it and worked for it as the director for the last 3 decades and i think he should continue doing so. I think the only reason that the government's taking it over is because they just want the money.
How article ties to political life:
How the Grameen bank ties to political life is that the bank has given loans that they earned to try to help poor people who are in need of money in their country. This is of great importance to much poverty that is in the country.