...also known as the "Mont-de-piété," the bank of the poor, which has for centuries allowed the needy to get loans against their valuables—a kind of ethical pawnshop, or the original microlender. The small kindness was welcome for many.
I like the idea of a bank like this...
The unexpected gift is a way for the bank to celebrate its 375th anniversary. The Crédit Municipal de Paris was created in 1637 by Théophraste Renaudot, a doctor, journalist and philanthropist who wanted to combat poverty by giving the needy access to fair banking.
"The goal was to combat usury," explains Thierry Halay, who authored a history of the Mont-de-piété.
I wonder if there is anyplace in our society for such lenders?
Well, color me cynical if I can't see this in our future... but it is nice that somewhere out there a kind idea grew, took root, and endured.
www.good.is
(visit the link for the full news article)
edit on 23-1-2012 by Maxmars because: (no reason given)
In the end it amounts to less than $500k
