Credit crunch: Wall Street only, not Queens


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Just a few months after opening for business, Grameen Bank America has loaned somewhere between $500 and $3000 to about 175 borrowers.  About a month ago, The New York Times published an article asking weather Muhummad Yunus's  scheme would work in the United States as well as it worked in countries like Bangladesh. The paper may have answered its own question on its City Room blog. The answer seems to be yes, thanks to low income immigrants. To reach the immigrant market, Grameen America just opened its new headquarters to Jackson Heights, a neighborhood flourishing with new immigrants.

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