Women are more fiscally responsible. Discuss.?

[AJeeePerthaAustralia]

Professor Yunnus, who started the Grameen Bank in Bangledesh states that his formula works because his bank lends primarily to women. The rate of loan return is 98% - far higher than average banks, even though the interest rate is up around 20%

The secret to economic freedom for the under-privileged lies in the hands of women, who traditionally have more commitment to the well being of their families, and to the paying back the loans that allow them to expand their horizons.

True or False. Discuss. To please support your opinion with real evidence rather than conjecture.

Research - The Grameen Bank, Professor Yunnus, micro-economics

Audrie
The Aussie-Kiwi FemConnexion.
Skidmark: Yes, to better their lifestyle.
I just wanna be: Before Grameen started, the only finance available to the poor were moneylenders lending at 10% a week.
TruthSee: Good counter point. Be interesting to find out what would cause this statistic.
DON JUAH: You are assuming the poor have had access to finance before. Banks would not touch them because they could not fill out the forms and had no collateral. We are talking about the world's poorest people here. Yunnus found them to be highly industrious on the whole and excellent credit risks even without collateral.
The high interest rate will be because of the high bank input per member to make the loan work and the extremely small amounts of money borrowed.

 

[TheSkidmarkKid]

Isn't it the women who are spending all the money?

Hurt,
The Skidmark Kid
http://www.skidmarkkid.com/

 

[TruthSeeker1]

It is not a universal truth, but in underprivileged third world countries it probably is true.

In the West women are committed to their careers now, not having a family, not raising their own offspring, or even trying to work differences out in a marriage.

I had also read a news story that stated young women were filing for bankruptcy at higher levels now-- I don't think it was at a higher rate than young men, but it was much higher than it had been in the past. Don't quote me on that, because I'm not completely confident I remembered the facts correctly.

EDIT:
"(From Manchester Evening News, January 16, 2006)

DEBT advisors are particularly worried about the soaring incidence of indebtedness among women.

There has been a surge in the number of women filing for bankruptcy, as more and more are desperate to escape the pressures of spiralling debt.

John Bluer, director at Simple Debt Solutions, says the number of women filing for bankruptcy has soared from 11,900 in 2002 to 17,260 last year.

That total is predicted to rise by a whopping 122 per cent this year.

"We are now seeing the crippling effects that a {lsquo}buy now pay later' culture is having on young women who are struggling to lead a cosmopolitan lifestyle that is well beyond their means," Bluer says.

"Many women today have five or more store or credit cards, as well as personal loans and huge overdrafts totalling anything from GBP25,000 to GBP100,000. This means that as soon as wages come in they go right back out again to cover repayments and the cycle of spending using credit has to start again."

 

[Ijustwannabeeee]

HAHA, 20% These women must be getting ripped off.

They take advantage of the stupid, that's why their bank is so succesful.

Widespread oppression is the reason for underpriviliegedness. Bangladesh is just a genrally unsustainable place. Overpopulated, oppressive etc Women can't change this just by being lent money and using it properly. It's about culture. Feminist complaining and messing with that culture won't help. The men there still have to much to fight and oppress people for.

 

[DonJuanDeMarco1]

Obviously these women are not that fiscally responsible.. at 20% interest youd expect them to be looking for a better deal somewhere else.