The Formal Financial System Can Be Dangerous as Well

Agan: There can be problems with these systems of informal credit. Agan: No matter how good migelo's friends are about paying him back, no matter how promptly tamara pays into her susu, none of that counts on their formal credit histories. None will help them get a loan to buy a house or a car, or start a business, or get a credit card. But the formal financial system can be dangerous as well.

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