Nov
26
SEC Shuts Down Prosper
November 26, 2008 | Leave a Comment
The SEC has issued a cease and desist letter to online lender Prosper.com. I lend money on Prosper so I have a vested interest in the outcome.
The problem is the SEC claims that loans Prosper facilitates are actually securities (stocks/bonds) not just loans. When you sell securities there are a whole host of byzantine rules [...]
Apr
3
Peer to Peer Lending with Prosper Et Al.
April 3, 2008 | 4 Comments
Maybe you’ve heard of peer to peer (p2p) lending. It’s also known as social lending or person to person lending. What is it and how does it work? I have some experience in this area so read on to find out what p2p lending is all about.
Borrowers
Consumer loans are big business. [...]