NA. bluster aside, since p2p lending isn't regulated, and Prosper hasn't been transparent about collections or the NAT lawsuits, I have to think that SEC involvement is better than nothing.
If Prosper had conducted itself in accordance with the original TOS, and had been transparent ("hey, we're trying, and here's what we've done") I don't think there would be the same anger and disgust there is here now.
I think people here (myself included) would have been much more forgiving of this new platform if we had the sense that we were all in this together. Prosper, IMO, turned this into an us vs. lenders scenario.
+1. If they actually treated us like partners in this game, they would have made a lot of friends (with money.) Instead, they told us the written agreements they made with us aren't worth a *(&)% 'cause they can change them whenever they want. That is *not* an organization I am comfortable doing business with.
+1. Prosper used to have a good relationship with most of the lenders here, back when their own forum was a lightly moderated, useful forum for discussion. Many of us provided tons of troubleshooting, great ideas, suggestions, and tons of customer service for free to Prosper. But then Prosper (erroneously) decided lenders didn't matter, and started treating us like shit. The result was obvious and perfectly foreseeable.
