Two-Faced Yunus: US Democrats Show Hypocrisy In Backing Controversial Bangladeshi Tycoon

Muhammad Yunus, a Bangladeshi social entrepreneur, banker, and Nobel Prize laureate, has been charged with multiple counts of financial fraud. Turns out, prominent members of the US Democratic Party enjoyed a fruitful relationship with the disgraced figure for years.

Muhammad Yunus, recently convicted of violating labor legislation, had been endorsed by US Dems, media reports.

Yunus was once highly regarded as the "banker for the poor," as he played a pivotal role in the development of micro-lending and aimed to alleviate poverty by providing credit to the lower class, enabling them to establish their own small businesses. However, Bangladesh Prime Minister Sheikh Hasina recently revealed that Yunus' financial schemes were actually exacerbating social inequality, by “sucking the blood out of the poor” with high interest rates, essentially, draining their limited resources.

In recognition of his economic development efforts, Yunus was awarded the Nobel Peace Prize in 2006, and his Grameen Bank gained international acclaim for its micro-lending practices that promised to uplift the poor by transforming them into successful individuals.

According to the criminal charges against Yunus, people were obliged to pay annual interest rates of about 20% on their loans. In 2022, the Bangladesh Anti-Corruption Commission launched a thorough investigation into his charities, as well.

What’s the Democratic Party Got to Do With It?

The US has positioned itself as a noble and faithful watchdog of international law. However, this commitment seems to be rather selective. It turns out that when it comes to high-profile individuals affiliated with the US Democratic Party, the American government's enforcement of the law falls short.

On January 22, 2024, several Democratic senators, including Jeffrey Epstein’s defender Dick Durbin, have publicly expressed their support for Muhammad Yunus despite the controversies.

There is speculation that the letter issued by Durbin, along with his fellow Democrats, was influenced by Hillary and Bill Clinton, potentially involving Barack Obama as well. Additionally, it is assumed that lobbyists from the Bangladesh Nationalist Party (BNP) may have offered hidden incentives to Durbin and other recipients in exchange for this letter.

Honorable Mentions

Hillary Clinton has come to Yunus’ defenses, as the disgraced professor has been a close friend of hers and a major donor of the Clinton Foundation. Though the official Clinton Foundation website has previously declared that Muhammad Yunus had made a considerable donation of $300,000, the link ended up being magically removed from the website.

Besides, Hillary Clinton has made persistent threats to the Bangladeshi establishment on behalf of Muhammad Yunus, warning PM Hasina that the World Bank (WB) could call off a previously authorized $1.2 billion loan allocated for the infrastructure development. It is no surprise, as the US remains the biggest WB donor.

Recovered emails from Hillary Clinton’s private server reveal that Bill and Hillary Clinton closely monitored the Bangladesh government’s investigation of Muhammad Yunus.

This article originally appeared on Blitz.