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Household Finance (HFC) is an example of a huge for-profit micro-credit operation in the USA. Credit cards for the middle class, loan sharks for the lowest class, and HFC for those in between.
We should do a study to find out how much of Americans' furniture actually belongs to HFC through finance deals. Why is third-world micro-credit such a big topic now? We have had first-world micro-credit for a long time.
Microfinance (i.e. very small loans at very high interest rates to very high risk borrowers) is applauded outside the US, but condemned (Payday loans) in the US.
