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Be a buyer

11 (15.3%)

Be a seller

10 (13.9%)

Be an active trader (seller and buyer)

10 (13.9%)

Be undecided

26 (36.1%)

Not take part (WGAF)

15 (20.8%)

Total Members Voted: 69

[HollowOak]

Soon now it will be Prosper Days 2008. The secondary market will be announced. I was just considering whether I wanted to halt all my transfers out so I could garner some sweet cash to snap up some of the undoubted bargains that will appear on the secondary market when I remembered who I was dealing with here.

So girls and boys, what will you be doing once the secondary market rolls around?

[Tokyo Joe]

Need an "undecided".  WGAF isn't the same thing...

[cowdog]

I am out of here. Don't care at this point if I don't even get my principal back (it isn't that much)... I don't want to be associated with Prosper in any way shape or form. I have no need to have any relationship with unethical entities; it wrinkles my karma and makes me give off bad vibes just like them.

I want to be done with Prosper forever.

[HollowOak]

Need an "undecided".  WGAF isn't the same thing...

OK, I added the "Tokyo Joe" option and a "bama" option.

[LoanChimp]

I will make a Teakins size prediction that the secondary market will be announced, but not ready for launch...

[HollowOak]

I will make a Teakins size prediction that the secondary market will be announced, but not ready for launch...

Quoted for posterity... 

[LoanChimp]

I will make a Teakins size prediction that the secondary market will be announced, but not ready for launch...

Quoted for posterity... 

You'll see. I'll blast you and especially this Dakotah out of the water! 

[mothandrust]

Actually I will suspend lending entirely, since there will be so many new ways to scam the secondary market.

Borrow $25K, let it miss a few payments, and then a family member or friend buy up the deliquent loan shares at pennies on the dollar.  Bring it current again, pay it off, pocket the difference, repeat.

I am not Saving All My Lending Cash for someone like that.

[cowdog]

Actually I will suspend lending entirely, since there will be so many new ways to scam the secondary market.

Borrow $25K, let it miss a few payments, and then a family member or friend buy up the deliquent loan shares at pennies on the dollar.  Bring it current again, pay it off, pocket the difference, repeat.

I am not Saving All My Lending Cash for someone like that.

Yes, I'm sure that Prosper has not/will not think the process through correctly or completely, but loan values will necessarily fluctuate, and manipulation of that fluctuation is inevitable.

[112233]

will I be able to sell short?

[zcommodore]

My only problem with this poll is that we have speculated that there will be an announcement at PD08 but I'm not yet convinced that this is guaranteed.  I'm with LoanChimp that there will be some discussion about a secondary market but I have no idea if it will really happen until it actually happens.  I haven't voted but if I did, I would probably use the "undecided" option.  I want to see what it looks like before I plunge in and start buying or selling.

[ks6328]

 
As I've said on many occasions, I'll be selling.

Over some period of time, probably a few weeks, I'll offer for sale all of my loans that are current.  All will be offered at some discount off the remaining principal balance.  The amount of discount will depend on the credit information and payment history to date.  E.g. a clean AA with 100% on-time payments will be offered at a very small discount.

I'll carry late loans until they default or become current.  If the latter, I'll offer them for sale at that point.

If for any reason I still have loans as the end of 2008 approachs, they'll be offered for sale at whatever kind of discount it takes to sell them.  I don't intend to carry any loans into 2009 (assuming that the secondary market does become a reality at some point in 2008).

Edit: changed one word for clarification.
 

[cubbiesnextyr]

With my current status at Prosper, I don't even know if I'll be able to participate.  I'd imagine that I'd only be able to sell, but with Prosper who knows.  They probably wont let me do anything.

[ira01]

With my current status at Prosper, I don't even know if I'll be able to participate.  I'd imagine that I'd only be able to sell, but with Prosper who knows.  They probably wont let me do anything.

I'm assuming that I won't be able to participate in the secondary market, so I haven't given it much thought.  Even if I could participate, I'm not too interested in selling my loans at the discount that would probably be required.

[Mtnchick]

I would have to see what they are offering.