« Prosper.com - 10/15/08 late loan stats updateProsper.com - lender statements now 7 months late »

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Comment from: mr1776 [Member] Email
Thanks for this excellent summary and posting.
08/23/08 @ 18:53
Comment from: xraider [Member] Email
Ya know, Fred, until you posted it so bluntly, I hadn't really thought about how Prosper might be setting the lenders up to be sued.

I'm glad I sent the LRA to Mr. Gaerke's bankruptcy lawyer. PACER shows a recent filing by Mr. Gaerke's lawyer suggesting that settlement of the entire BK may be imminent. I will follow up...
08/23/08 @ 19:29
Comment from: bamalucky [Member]
Prosper is our Fiduciary.I'm not seeing them act in our interest here.
08/23/08 @ 21:58
Comment from: kingnod [Member] Email
Excellent post fred. Very clear and concise, you should send that to Mr. Gaerke's lawyer. At the very least, if brought forward by the lawyer, it gives all "lenders" (in this case I do mean loan purchaser) precendence from an ongoing legal case that we (loan purchasers) are not the true lender Prosper Marketplace, Inc is. Also you should take credit for this I have been reading the forum and you definitley have added some things and clearly explained the confusing ramblings of others.
08/24/08 @ 09:03
Comment from: christoofar215 [Member] Email
This is a clear indication that Prosper itself is folding. It can't even repurchase a single loan and is hording as much of its own cash as possible to delay the inevitable.

This can be the only motivation why Prosper would lie to a bankruptcy court.

WITHDRAW as much as you can as soon as you can, because the time will be coming soon when Prosper's Cash Requirement report turns up with a deficit, and it will shut down.
08/24/08 @ 12:04
Comment from: Teddie33 [Member] Email
Hey Fred, how does the August 22 payment fit in this loan fraud?
08/24/08 @ 19:05
Comment from: bamalucky [Member]
Nowhere on this blog by Fred is the word fraud used.Ted please explain what you mean? This post is about Prosper reply to the court.
08/24/08 @ 19:17
Comment from: Teddie33 [Member] Email
(Gaerke's amended complaint of Apr 29, 2008.) He says his wife "Ashley Gaerke" took out the prosper loan (as well as a lot of other credit) without his knowledge.
08/24/08 @ 19:21
Comment from: bamalucky [Member]
Ted,i know you are thick,but this blog isn't about the loan.It's about Prosper's response to the court.Prosper is trying to tiptoe around the legalities of not having the SEC oversee them on 1 toe,but on the other,they are saying they are selling us unlicensed securities.
08/24/08 @ 20:02
Comment from: Teddie33 [Member] Email
I'm sorry bama that you have a man crush on me and ignore you. I just ask fred to comment on the Aug 22 payment that he may not even be aware of.
08/24/08 @ 20:16
Comment from: fred93 [Member] Email
Teddie33, Yes I did hear about an August payment, and I don't know what it means. I'd be guessing.
08/25/08 @ 01:17
Comment from: lhsbandnurd [Member] Email
And it doesn't really matter. Fred chose to very bluntly divorce his blog post from the actual listing, and concentrate on Prosper's ineptitude (or willful negligence). By trying to drag the details of the listing/loan into the discussion you are simply shifting focus from the point of the discussion.

In short, stop being a troll.
08/29/08 @ 14:37
Comment from: ira01 [Member] Email
For an explanation of why Prosper's response to the TMF article (posted on Prosper's blog) is bullshit, see: http://www.prospers.org/forum/prospers_response_to_fool_article-t9179.0.html;msg148715#msg148715.
09/03/08 @ 13:38
Comment from: NewHorizon [Member] Email
"I'm glad I sent the LRA to Mr. Gaerke's bankruptcy lawyer. ... I will follow up..." -xraider

Looking forward to the follow-up!
09/05/08 @ 10:36

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