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Wednesday, December 8, 2010

2010-9-27 to Durbin re: M.Yunus/Foreign Trade

Dear Senator Durbin,

I was pleased to learn that you are sponsoring S. 846, a measure intended to award the Congressional Gold Metal to Muhammad Yunus. Dr. Yunus’ Grameen Bank proves that when you make available to the poor financial products with similar terms to the products available to the wealthy and couple these products with consumer financial education, industrious poor entrepreneurs can build the wealth of their communities. Dr. Yunus’ banking model should serve as an inspiration to all those who hope to work in business partnership with the world’s poor to bring about better living conditions for those afflicted by poverty.

I hope Dr. Yunus’ argument, that the poor need access to financial products similar to those afforded to the rich, serves as a litmus test as you craft foreign trade legislation this year. In considering that legislation please think about how leveraged trading agreements with poorer countries might contribute to the very poverty Muhammad Yunus’ microfinance programs work to eradicate.

Thank you for your service to the people of Illinois,

-HW
Constituent, voter

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