Bangladeshi economist Muhammad Yunus and the Grameen Bank he founded won the 2006 Nobel Peace Prize on Friday for grassroots efforts to lift millions out of poverty that earned him the nickname "banker to the poor."
Yunus, 66, set up a new kind of bank in 1976 to lend to the very poorest in his native Bangladesh, particularly women, enabling them to start up small businesses without collateral.
In doing so, he pioneered microcredit, a system copied in more than 100 nations from the United States to Uganda.
Friday, October 13, 2006
Nobel Prize Goes to a Deserving Recipient (for once)
As you can guess from the headline, Cindy Sheehan did not win the Nobel Peace Prize after all. Sorry, Momma Moonbat, but the Nobel Committee decided to set aside politics for once and award the prize to a guy who seems to actually deserve it:
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