Microfinance arrived as the answer to a discredited Washington Consensus, promising to reach the poor directly and to put women at the centre. Kleinman tests that promise in Haiti by reading what the lenders themselves publish, the mission statements, reports and press releases of Fonkoze, ACME, SOGESOL, Finca and others, alongside material from the Gates Foundation, the Clinton Global Initiative and the World Bank. Rates reported to investors run from about 32 percent at Fonkoze to 54 percent at Fondespoir, and roughly 18 percent of Haitian clients have defaulted or are close to it, against 3 percent internationally. Using Foucault on governmentality, he traces how talk of human and social capital does the work of concealment. Fonkoze's solidarity centres, presented as community building, operate as substitute collateral that binds women to one another's debts. Two logics sit inside one industry, financial sustainability and social development, and in Haiti the first governs the second.