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[112233]

Prosper is a new way of banking. Instead of working with a bank where they offer depositors around 1% and then turn around and lend that same money out to borrowers for much higher rates, Prosper lets lenders see larger returns on their investments and offer their peers a lower rate as well

http://www.associatedcontent.com/article/2503045/prosper_the_loans_marketplace.html

this is ridiculous. no mention of risk or liquidity?

[Urbi_et_Orbi]

This is just grotesque.

On average a Prosper.com loan boasts a 9.52% return after estimated losses are considered.

[bankomatic]

Those are blatant lies. How can he get away with that. He knows they are lies too. He is worse than mmmmaker.

[Urbi_et_Orbi]

What good is it to add the "notes offered by Prospectus" tag when company execs freely run around and perpetuate this type of gross inaccuracy?

Do they think that the disclaimer gives them a license to be dishonest?

[alexpkeaton]

How can you be so cynical? This article was written by Kyle, a trusted reporter if I ever saw one.
 

[112233]

CL giving a telephone interview to a young college kid .. He probably didnt feel the need to hold back the bull

[Mtnchick]

Lobby

[God-Father]

Second

[112233]

fine

[112233]

more crap
http://www.prosper.com/about/history/

they really pushing this prosper=savings account line hard.

[Mtnchick]

LOL, Visa came around in 1958? The BankAmeriCard people will be interested in knowing that

[bamalucky]

more crap
http://www.prosper.com/about/history/

they really pushing this prosper=savings account line hard.

Before,it was look how we beat up the S&P

[mothandrust]

On average a Prosper.com loan boasts a 9.52% return after estimated losses are considered.

I posted this in response:

The 9.52% rate of return is grossly overstated. There are over 3,000 Prosper lenders with 20+ loans who have invested $2,000+, and only 5 of them have a rate of return at or above 9.52% when their portfolio age is > 2 years old.

400 have a positive ROI and the other 2600 have a negative rate of return.

You can see how actual Prosper lenders are doing over time at: http://www.ericscc.com/tools/prosper-lender-list

[Senator]

This is just grotesque.

On average a Prosper.com loan boasts a 9.52% return after estimated losses are considered.

Could be Chris was misquoted.   He probably said

On average a Prosper.com loan boasts a 9.52% loss after estimated losses are considered.

...but the author heard otherwise.  

[lender25]

Kyle defending his journalistic integrity in the comments section:

The 9.52% is an estimated return based on the lender yield and the estimated loss of notes issued from July 15 to September 30 of 2009. For additional information see: http://www.prosper.com/welcome/marketplace.aspx Prosper did run into some legal issues, but they are now SEC approved and working to get approval in states that required additional approval processes. They only allow prosper members to borrow/lend if they reside in approved states. Thank you all for all of your comments.