I know it's crazy risky, but the idea of peer to peer lending attracts me as a concept. I may need to stick some money in and see what comes out. It's interesting for a number of reasons - the basic idea, which seems to be going to a website and saying 'I have x dollars to lend' and seeng who turns up to borrow it. I also like the fact that it's so cutting edge, yet accessible to anyone with a web browser - I often feel like the truly advanced financial instruments are closed to small investors - in some cases with good reason (I can't cover a 300 million dollar debt swap), but mostly I tend to feel institutional investors simply aren't interested in opening some of their more lucrative products, except to the big guys. It cuts down on their overhead, for a start, because who wants to track that many people, none of whom individually have much of an effect on your bottom line. Easier to require some serious cash up front. So the idea of taking all that out of the equation makes me happy. But as with all things, I'll wait and see how it all pans out - it's just as easy to find yourself in a fraudulent ebay situation as in a situation which is simply risky due to (honest) default. via Slashdot.

Anonymous commented:
Oh my gosh, this is a fabulous idea (but risky, you're right)! How I wish this was around when I was in college and in massive money trouble and needed just a little push forward to get ahead! I think I'm going to lend a couple hundred bucks just for good karma.
on Wed May 17 20:06:28 2006

Anonymous commented:
(oops, forgot to sign) --Sarah anchorednomad.blogspot.com
on Wed May 17 20:06:58 2006

Nikki commented:
Um, have you forgotten all about the mission? The liberation of Puerto Rico certainly needs financing should you want to invest in something risky!!
on Thu May 18 00:01:21 2006

David commented:
Hey - wait a second - I thought I was there to provide other services, not cash!
on Thu May 18 04:27:56 2006

Add a Comment
Back to the Blog