THE BLOG
03/20/2009 05:12 am ET Updated May 25, 2011

Bernanke Approves Savings Banks for the Poor in the US

This keeps getting better and better. While everything is crashing around us financially, Federal Reserve Chairman Bernanke pledges his support to Nobel Peace Prize winner Muhammad Yunus and his banks for the poor in the US: Grameen America. Grameen will apply to act as a savings bank and will be partners with the largest Credit Union in the country, the North Carolina State Employee's Credit Program, to provide microcredit for the poor in the US.

Watch this. Imagine this spreading and helping the poorest of the poor in our country. Then maybe we can talk about really rebuilding our economy -- and not with trickle down but with trickle up. Grassroots banking is here to stay.