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I do not understand Molenaar comment on microcredit-entrepreneurs that " they see the current financial crisis as belonging to others". I think that in the light of 20 years past of financial speculation providing mortgages to the poor in USA for example, we have learned some lessons v.g.: it is better to live within our means. For sub-prime mortgages , are also " financial instruments " that have also been available to the poor by banks and FI (financial institutions). They have been a resounding failure to deminish/extinguish poverty and yet have provided phenomenal profits to banks and financial institutions (through derivatives). This same financial institutions and banks are currently been "rescued' and the numbers of US dollars poured down to the "rescue" are counting by trillions... (where does this money come from?) I think that given the lessons learned we should consider adding a manual to the financial instrument kit available to the poor, hence: education to the poor on how to profit from microcredit. Otherwise I am afraid that microcredit will leave a trail of failed microenterprises (for "infant mortality" of enterprises carried out by starters accounts two digits-figures anywhere on this planet). Yes! It might turn into great business for financial institutions and a "sense of self confidence" (I did not know that self confidence derived from our all mighty financial system!) to the poor. We can look at it another way and regard this micro-loans as consumption loans, 'cause the poor sets off for the first time in a business without much or any knowledge about entrepreneurship/market/legal framework/biz administration. Hence, doomed to failure... I always thought that in this age of mankind poverty should be regarded as a social sickness rather than "high business potential' as Princess Maxima put it. By the way, have you seen who are behind Qredits? Any comment is appreciated, starting now. Yazmin