Europe

  I missed Bastille Day celebrations in Paris on Monday – got on a plane back to DC early in the morning.  But let me extend my best wishes on Bastille Day to all our French readers.  And everyone else, too.  My friend BP, a magazine editor in France, commented at dinner the other night that the thing about America and...

Financial intermediation is a dicey proposition these days, and 'asset securitization' a downright dirty word in a world in which securitization allowed the obfuscation of risk - purses from sows' ears, but actually just fancy looking sows' ears, it turns out, everywhere you looked. Nonetheless, one of the important longterm issues for microfinance (and for the whole, newly emerging...