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bamalucky
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« on: July 14, 2008, 04:03:18 pm » |
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http://www.lazymanandmoney.com/prosper-borrow-endorsement/Buy My Endorsement
Another way to get an endorsement is through me. It’s pretty simple really. Contact me and let me know how much you want your endorsement for. Give me that money plus 50% and I’ll bid on your loan. If you end up paying off your loan, I will return the value of your endorsement. The 50% extra is my fee for making your loan more attractive to lenders. This gives you a better interest rate which usually would be worth much more than my fee. Here’s an example: You want a $50 endorsement on your loan. You contact me, we talk, and you send me $75 through PayPal. I bid $50 of that money on your loan with an endorsement and keep $25 for my time. If you make good on your loan and pay it off on time, I’ll give you the $50 endorsement value back. If you default, I keep the $50 (this protects me from potentially losing on the loan). With the endorsement your interest rate may go down 3% (hypothetical example), which over three years, should add up to more than the $25 fee I’m requesting for this service. You’ll want to do the math to make sure that it makes sense for your loan.
Why Am I Doing this?
If you think it sounds dirty, you are right. I’m putting on a grey hat in this case. I want to see how Prosper reacts to such a proposal. They’ve blurred the line by adding the social element to the loan marketplace. I want to blur it more. I want Prosper to look at endorsements and say, “Is this really the right model? Can we make it better?” Innovation occurs when there a potential problem is exposed. Perhaps “buying an endorsement” doesn’t qualify as a problem in Prosper’s eyes. If that’s the case, that’s worth knowing as well.
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There are no stupid questions, just stupid people.
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bamalucky
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« Reply #1 on: July 14, 2008, 04:05:29 pm » |
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Feel free to move this to the lobby.I invited lazyman to org.
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There are no stupid questions, just stupid people.
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bamalucky
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« Reply #3 on: July 14, 2008, 04:12:36 pm » |
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14. Prohibited Activities. You agree that you will not do the following, in connection with any listings, bids, loans or other transactions involving or potentially involving Prosper:
a. Represent yourself to any person, as a representative, employee, or agent of Prosper, or purport to speak to any person on behalf of Prosper;
b. Charge, or attempt to charge, any Prosper borrower any fee in exchange for your agreement to bid on a borrower's listing, or propose or agree to accept any fee, bonus, additional interest, kickback or thing of value of any kind, in exchange for your agreement to bid on a borrower's listing; http://www.prosper.com/account/common/agreement_view.aspx?agreement_type_id=8 |
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There are no stupid questions, just stupid people.
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Cushie
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« Reply #4 on: July 14, 2008, 04:13:04 pm » |
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I remember discussing him before. He should be okay in this scam so long as he doesn't have a link to his blog in his Prosper profile.  Second the motion to move to lobby. |
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I like long walks, especially when they are taken by people who annoy me.-- Noel Coward
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Nora_Lenderbee
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« Reply #5 on: July 14, 2008, 04:16:35 pm » |
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I informed Prosper of his blog post, FWIW.
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Tokyo Joe
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« Reply #6 on: July 14, 2008, 04:16:52 pm » |
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He's an idiot. I left a comment for him too...
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Cushie
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« Reply #7 on: July 14, 2008, 04:21:29 pm » |
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His blog is blocked at my work or I'd leave a comment too. Good find, Bama.
I think it's very ironic that Prosper lets him be a blogger for their comany but not us. You have to wonder who'll do more harm? I know the answer - it's this fool.
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I like long walks, especially when they are taken by people who annoy me.-- Noel Coward
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cubbiesnextyr
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« Reply #9 on: July 14, 2008, 04:25:00 pm » |
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What you are doing is a Prosper TOS violation & possibly even illegal. It is being discussed here.
[Editor’s note: URL removed… subscription required…] He removed the link from bama's post... |
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bamalucky
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« Reply #10 on: July 14, 2008, 04:25:41 pm » |
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Finding org must be stopped at all costs
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There are no stupid questions, just stupid people.
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Tokyo Joe
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« Reply #11 on: July 14, 2008, 04:39:01 pm » |
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I had .org listed in the box for "my website"... I don't see that in my post, either... So, he's a tool, too...  |
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Mtnchick
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« Reply #12 on: July 14, 2008, 04:42:30 pm » |
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He's passed all the tests - willing to lie, cheat, steal and he's a tool. He'll probably get offered a job at P------r  |
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Classic comment from Urbi to a poster who said they were leaving:
"Once again, we note that your threats are hollow and you come across like a sad, lonely blowhard.
I doubt anyone here gives a shit about you. We pretty much all know that you are a vile and unethical parasite of a human being with an abnormal craving for attention."
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bamalucky
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« Reply #13 on: July 14, 2008, 04:42:57 pm » |
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I had .org listed in the box for "my website"... I don't see that in my post, either... So, he's a tool, too... I saw it & wished i had did it too.But he deleted it from yours. Lets see how long the LS link to him lasts. |
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There are no stupid questions, just stupid people.
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bamalucky
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« Reply #14 on: July 14, 2008, 04:48:07 pm » |
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I love this post on the blog # WealthBoy Says: July 14th, 2008 at 11:27 am An intriguing idea. For a second there, I wasn’t sure if I was reading a RateLadder post or a LazyMan post.  |
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There are no stupid questions, just stupid people.
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