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[Loan_shark_74]

I have to wonder if SEC members are just shaking their heads in awe of Prosper (and not in the way PMI wants).

Mtnchick, agree.  During the silent period it would seem PROSPER needs to be silent, not their customers and/or critics.

OK, I think you two are right.  But maybe somebody will make the effort to look up the pertinent regs.   
(... but not me.  )

I worked for a number of years for a corporation that regularly went through quiet periods. 

Quiet periods, in my experience, are intended solely to prevent unfair or premature disclosure of financial information (including information related to securities, new or existing) before the company announces it formally.  As such, quiet periods impact only those with INSIDE KNOWLEDGE of company financial or securities information.  Rank and file folks whose functions do not include knowledge of non-public financial or securities data (for example, customer service personnel) are unaffected.   They just do their jobs.  External entities, such as message board posters, are so far removed from quiet period restrictions that they would never even be thought about.   Furthermore, I've never heard of a company shutting down ANY business operation because of a quiet period. 

Maybe Prosper's "quiet period" is a completely different animal from anything I've expereinced.   Maybe Prosper is using the quiet period as cover for some other activity.

Lendingclub also went through a quiet period, so there is obviously some real reason for it. If Prosper's lasts as long at Lendingclub's ( 6 months) then they will not survive (IMO).

[Elmslice]

Lendingclub also went through a quiet period, so there is obviously some real reason for it. If Prosper's lasts as long at Lendingclub's ( 6 months) then they will not survive (IMO).

It appears that in both cases (Prosper and Lendingclub) the companies were told that they were selling unregistered securities and decided to go out of business (or were forced to) until they got their securities registered.   IMO, in both cases they used the concept of a "quiet period" as a smokescreen/excuse for not answering questions or interacting with their customers subsequent to the shutdown.

Quiet periods, as the term is generally employed, do not include suspension of business operations.  Some other things that Prosper is doing, such as (getting back to the specific subject of this thread) poofing forums, make no sense to me relative to a company quiet period.   Quiet periods, by definition, are intended to prevent premature disclosure of inside information.  How could a customer forum do that, unless an insider posted there?

[Loan_shark_74]

Lendingclub also went through a quiet period, so there is obviously some real reason for it. If Prosper's lasts as long at Lendingclub's ( 6 months) then they will not survive (IMO).

It appears that in both cases (Prosper and Lendingclub) the companies were told that they were selling unregistered securities and decided to go out of business (or were forced to) until they got their securities registered.   IMO, in both cases they used the concept of a "quiet period" as a smokescreen/excuse for not answering questions or interacting with their customers subsequent to the shutdown.

Quiet periods, as the term is generally employed, do not include suspension of business operations.  Some other things that Prosper is doing, such as (getting back to the specific subject of this thread) poofing forums, make no sense to me relative to a company quiet period.   Quiet periods, by definition, are intended to prevent premature disclosure of inside information.  How could a customer forum do that, unless an insider posted there?

I agree totally.

[Urbi_et_Orbi]

And that, of course, is the reason why Prospers.org is the only meaningful place to learn about peer-to-peer lending and Prosper Marketplace, doing business as Prosper.com.

These people are shameless.

[artjunkie]

http://www.sec.gov/answers/quiet.htm

[onthefence]

Let's be honest.  The new group of lenders there were becoming VERY aware of the problems.  Prosper was again dancing the line between scaring lenders off by aggressively suppressing their comments & banning them or the lenders becoming too aware of all of the issues & true risk of default.

It is very telling that they ONLY deleted the lender's forum.  The borrowers, developers & bug report forums are still there.  And they are blaming this on the "quiet period".

This is an utter bullshit fabrication.  They are hoping that the 2nd wave of lenders loses interest & goes away so that a fresh new nieve 3rd wave of lenders can walk in for the suckering of a lifetime.

Prosper should have taken our advice from the get-go.  If they can't have open forums in a securities market they shouldn't even try to have forums.  Their suppression of open communication makes them more like a scam & ruins a lot of good work other people have done.

[onthefence]

"No New comments from LENDERS ONLY"



They ONLY deleted the LENDERS forum.



It's not the "quiet period" or everything would be gone.  Saved.

LIARS LIARS LIARS LIARS LIARS LIARS LIARS LIARS LIARS

[mr1776]

Maybe Prosper is using the quiet period as cover for some other activity.

as an excuse to get rid of the forums, blog comments, data download, etc?

Prosper is apparently in trouble with the SEC.   Is it possible that the lender forums were poofed only because they only hurt Prosper in the eyes of the SEC?

The data API's are still working, aren't they?

[Urbi_et_Orbi]

If they can't have open forums in a unregistered securities market they shouldn't even try to have forums.  Their suppression of open communication makes them more like a scam & ruins a lot of good work other people have done.

Fixed. 

[ira01]

Let's be honest.  The new group of lenders there were becoming VERY aware of the problems.  Prosper was again dancing the line between scaring lenders off by aggressively suppressing their comments & banning them or the lenders becoming too aware of all of the issues & true risk of default.

It is very telling that they ONLY deleted the lender's forum.  The borrowers, developers & bug report forums are still there.  And they are blaming this on the "quiet period".

This is an utter bullshit fabrication.  They are hoping that the 2nd wave of lenders loses interest & goes away so that a fresh new nieve 3rd wave of lenders can walk in for the suckering of a lifetime.

I agree with this, and with elmslice's posts.  This is just another example of Prosper's bullshit.  Hopefully a bunch of the lenders that woke up today with the forum poofed will discover .org.

[mr1776]

I think they are hiding the lenders' posts from the SEC as well as from fresh suckers.

[BigCowboy]

Why would Prosper delete the Groups forum as well?

[mr1776]

Same reason.   No praises and plenty of complaints / dirt on prosper.
Groups were sources of a great many shenanigans, too.

[login]

I hope they don't go out of business. I still have a lot of money that I lend out. I know i'll get the money but just don't have time for the red tape. You think they could wait till' my 3 years is up?

[DCS]

LendingClub continued to publish blog posts and accept blog comments during its quiet period.

Here's one: http://blog.lendingclub.com/2008/09/12/is-your-rewards-card-worth-it/

The topics weren't about LendingClub, but they didn't throw out every comment ever made on the entire blog either.