Credit crisis: Access to credit

In our quest to put the blame on the financial institutions, traders etc. for the current crisis, most people have forgotten the biggest issue. Our current society has become a vicious circle. The rich have money and hence the banks lend to them allowing them to get richer. The poor neither have money, nor anyone who lends to them.

Without access to readily available and cheap credit it’s hard for the poor to pursue their dreams and work their way out of poverty. Today whatever little they are able to make is snatched away by loan sharks and mafia to
pay the exorbitant interest rate.

Subprime crisis is soon becoming the thing of the past. However it has kicked all these marginal people out of the today’s modern financial system. Unless they are not brought back, the society is only condemning the masses to an eternal life of misery.