this post was submitted on 11 May 2024
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submitted 6 months ago* (last edited 5 months ago) by crafted_104@hexbear.net to c/technology@hexbear.net
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[โ€“] Goun@lemmy.ml 7 points 6 months ago (1 children)

has profited off predatory micro loans in developing nations

Wait what? How's that even possible?

[โ€“] technocrit@lemmy.dbzer0.com 8 points 6 months ago* (last edited 6 months ago)

It's not just possible, it's widespread.

https://www.bloomberg.com/graphics/2022-microfinance-banks-profit-off-developing-world/

(TBH it was never very convincing that these capitalists were going to help poor people by extracting their wealth.)