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yankeefan
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« Reply #15 on: January 19, 2010, 09:04:24 am » |
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I didnt catch the big splash on the home page the first time. lol. very nice  Boorrowing from "this man" is not the problem- it's the lending to him, don'tcha know. |
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 XIRR results= (6.52%) |
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112233
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« Reply #16 on: January 19, 2010, 09:07:53 am » |
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I didnt catch the big splash on the home page the first time. lol. very nice Boorrowing from "this man" is not the problem- it's the lending to him, don'tcha know. true. the phrasing could be more precise. |
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Xenon481
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« Reply #17 on: January 19, 2010, 09:19:53 am » |
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Amazingly accurate and well written article!  |
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cubbiesnextyr
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« Reply #18 on: January 19, 2010, 10:01:12 am » |
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Pioneer11 is quoted!
The author has to be registered here in order to have gotten the pioneer11 quote as well as the other thread linked since neither are in the lobby. I wonder what his login is?
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yankeefan
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« Reply #19 on: January 19, 2010, 10:05:41 am » |
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Pioneer11 is quoted!
The author has to be registered here in order to have gotten the pioneer11 quote as well as the other thread linked since neither are in the lobby. I wonder what his login is?
Markgimein |
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XIRR results= (6.52%) |
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NewHorizon
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« Reply #20 on: January 19, 2010, 10:39:25 am » |
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From the excellent article... “Every American,” Larsen said, “can be their own banker. I can back other entrepreneurs, I can back people in my community ... Can't be done. Borrowers don't want to tell us - as per Prosper's advice, IIRC - which community they live in. Well anyway, I've come to realize it doesn't matter. Just cuz someone lives close to me doesn't mean they can pay their bills. And we've already seen one lender (group leader, actually) go knocking on the door of a nearby non-paying borrower but to no avail. |
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yankeefan
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« Reply #21 on: January 19, 2010, 10:43:55 am » |
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From the excellent article... “Every American,” Larsen said, “can be their own banker. I can back other entrepreneurs, I can back people in my community ... Can't be done. Borrowers don't want to tell us - as per Prosper's advice, IIRC - which community they live in. Well anyway, I've come to realize it doesn't matter. Just cuz someone lives close to me doesn't mean they can pay their bills. And we've already seen one lender (group leader, actually) go knocking on the door of a nearby non-paying borrower but to no avail. Like the shop around the corner from Prosper's world headquarters that they couldn't find to collect from.... |
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XIRR results= (6.52%) |
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God-Father
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« Reply #22 on: January 19, 2010, 11:46:33 am » |
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http://twitter.com/markgimeinThe hype about Prosper.com: an "empowering" solution to the credit crisis. The reality: misery for lenders
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Long live Prosper!
Bama who? :-)
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Senator
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« Reply #23 on: January 19, 2010, 12:15:33 pm » |
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*poof*
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« Last Edit: January 19, 2010, 07:45:13 pm by Senator »
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Stats as of 6/28/2010:
Total withdrawals: $3,488.74 minus (-) Total deposits: $3,600.00 = ($111.26)
Cash balance: $0
Principal value of active notes: $0
Total active notes: 0 of 70.
Successful loans are made to persons who are on a clear path to financial stability. -Mjerryfirst May 18th, 2008.
I know that when I make my 10% those "unbelievers" will call it luck cause that will be the easiest way to excuse their mistakes. -Researchpro May 5th, 2009.
It's a great time to be poor and irresponsible in America. -PPT May 2009
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Senator
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« Reply #24 on: January 19, 2010, 12:17:40 pm » |
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Mark Gimein, You have a typo here Prosper's data now shows that now shows that close to 36% of the loans made before Nov. 27, 2007—the date of the AP story—have ended in default, roughly thirteen times what a casual reader would have thought from Larsen's comments. ETA: Good work! |
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Stats as of 6/28/2010:
Total withdrawals: $3,488.74 minus (-) Total deposits: $3,600.00 = ($111.26)
Cash balance: $0
Principal value of active notes: $0
Total active notes: 0 of 70.
Successful loans are made to persons who are on a clear path to financial stability. -Mjerryfirst May 18th, 2008.
I know that when I make my 10% those "unbelievers" will call it luck cause that will be the easiest way to excuse their mistakes. -Researchpro May 5th, 2009.
It's a great time to be poor and irresponsible in America. -PPT May 2009
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ira01
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« Reply #25 on: January 19, 2010, 12:48:36 pm » |
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To look at the results of Prosper's loan marketplace, though, is to see not a solution to the credit crisis, but a microcosm of it. Loans to unqualified borrowers; reliance on mathematical models that turn out to be a lot less useful than they seemed; He forgot to credit ResearchPro for this one! |
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Staneslav
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« Reply #26 on: January 19, 2010, 12:55:11 pm » |
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A well done article. It is nice to see that the goals of several people on this forum are finally being eralized and that their efforts are paying off. If I had the author's address I'd consider sending him a bottle of wine.
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I apologize for nothing and I'm sorry for less.
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ira01
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« Reply #27 on: January 19, 2010, 12:59:43 pm » |
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A well done article. It is nice to see that the goals of several people on this forum are finally being realized and that their efforts are paying off. +1. Very nicely done (although, as the article itself notes, several years too late). I see that Prosper has already scrubbed all references to the article off its FaceBook page (it's still on the Just Fans page, which Prosper seems to not know about). |
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Urbi_et_Orbi
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« Reply #28 on: January 19, 2010, 01:14:15 pm » |
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This is the most popular story on their site right now.
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bamalucky
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« Reply #29 on: January 19, 2010, 01:31:59 pm » |
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It's really nice to see a reporter actually dig down & get the facts.
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There are no stupid questions, just stupid people.
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