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Author Topic: no more lenders from Pennsylvania  (Read 14261 times)

Urbi_et_Orbi

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Re: no more lenders from Pennsylvania
« Reply #15 on: September 16, 2008, 02:03:13 pm »
Quote from: christoofar215 on September 16, 2008, 01:04:53 pm
Quote from: Xenon481 on September 16, 2008, 07:33:48 am
If Prosper.com has been running afoul of Pennsylvania regulations this whole time (or at any time), then all affected notes sold to Pennsylvania lenders should be repurchased at full remaining face value (Principal + Accrued Interest) by Prosper.com immediately.

Apparently Prosper is running afoul of Pennsylvania securities law, but not the lending law.   That's the only explanation as to why Pennsylvania residents can continue to borrow why lenders cannot lend.

You mean Prosper is selling securities?
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Mothandrust: "Why's he off the ballot in Colorado but it's OK for the other 48 states and Hawaii to vote for him"
https://www.prospers.org/forum/index.php?topic=37264.msg807090#msg807090

bamalucky

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Re: no more lenders from Pennsylvania
« Reply #16 on: September 16, 2008, 02:07:15 pm »
I've said all along they are selling unlicensed securities IMO
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Spider5

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Re: no more lenders from Pennsylvania
« Reply #17 on: September 16, 2008, 02:49:02 pm »
Someone started a petition.  Scroll down to the first comment.
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Urbi_et_Orbi

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Re: no more lenders from Pennsylvania
« Reply #18 on: September 17, 2008, 03:13:06 pm »
A lot of links there to non-Prosper third-party sites...
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Mothandrust: "Why's he off the ballot in Colorado but it's OK for the other 48 states and Hawaii to vote for him"
https://www.prospers.org/forum/index.php?topic=37264.msg807090#msg807090

lenderguy

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Re: no more lenders from Pennsylvania
« Reply #19 on: September 19, 2008, 12:55:14 pm »
Quote from: bamalucky on September 16, 2008, 02:07:15 pm
I've said all along they are selling unlicensed securities IMO

The more and more I think about it, the more and more I agree with you.  They were all about filing some paperwork with the SEC for the secondary market... how is the primary market any different?  The only real difference is one of semantics.  On the secondary market, you purchase an existing security.  On the primary market, you promise to buy a security once it is created.
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Fred93

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Re: no more lenders from Pennsylvania
« Reply #20 on: September 19, 2008, 12:58:54 pm »
Quote from: lenderguy on September 19, 2008, 12:55:14 pm
They were all about filing some paperwork with the SEC for the secondary market... how is the primary market any different?  The only real difference is one of semantics.  On the secondary market, you purchase an existing security.  On the primary market, you promise to buy a security once it is created.

That's the question that kept pounding my head as I read Prosper's SEC filing, way back when it was filed.
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Capital_Finance_Group

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Re: no more lenders from Pennsylvania
« Reply #21 on: October 18, 2008, 08:46:24 pm »
Now for some unspecified time the rest of the USA has joined PA
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mothandrust

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Re: no more lenders from Pennsylvania
« Reply #22 on: October 19, 2008, 10:54:17 am »
Quote from: Urbi_et_Orbi on September 16, 2008, 02:03:13 pm
You mean Prosper is selling securities?

Then why don't I feel like my investment is secure?
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Capital_Finance_Group

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Re: no more lenders from Pennsylvania
« Reply #23 on: October 19, 2008, 02:16:13 pm »
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christoofar215

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Re: no more lenders from Pennsylvania
« Reply #24 on: October 19, 2008, 03:14:09 pm »
Quote from: Capital_Finance_Group on October 18, 2008, 08:46:24 pm
Now for some unspecified time the rest of the USA has joined PA

We lead the nation, and we gave you that wonderful document Congress likes to pee on and a group of 9 old people with hemorrhoids and arthritis have to read all day for their job.     :)
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beerbud1

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Re: no more lenders from Pennsylvania
« Reply #25 on: December 02, 2008, 07:21:36 pm »
Apparently Pennsylvania was one of the 20 states they agreed to a settlement with. (NASAA)
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Investar

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Re: no more lenders from Pennsylvania
« Reply #26 on: December 02, 2008, 07:33:40 pm »
Quote from: beerbud1 on December 02, 2008, 07:21:36 pm
Apparently Pennsylvania was one of the 20 states they agreed to a settlement with. (NASAA)

Beerbud, ya got any factual evidence? Failing that, can you build on your conjecture? I'm a Pennsylvanian who's been on the 'quiet' that extra 30 days. Shure wood be news to hear good 'ole Harrisburg (state capitol) is actually doing something.
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beerbud1

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Re: no more lenders from Pennsylvania
« Reply #27 on: December 02, 2008, 07:36:00 pm »
Quote from: Investar on December 02, 2008, 07:33:40 pm
Quote from: beerbud1 on December 02, 2008, 07:21:36 pm
Apparently Pennsylvania was one of the 20 states they agreed to a settlement with. (NASAA)

Beerbud, ya got any factual evidence? Failing that, can you build on your conjecture? I'm a Pennsylvanian who's been on the 'quiet' that extra 30 days. Shure wood be news to hear good 'ole Harrisburg (state capitol) is actually doing something.
Haven't you seen the other thread about NASAA?
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Investar

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Re: no more lenders from Pennsylvania
« Reply #28 on: December 02, 2008, 07:38:18 pm »
Quote from: beerbud1 on December 02, 2008, 07:36:00 pm
Quote from: Investar on December 02, 2008, 07:33:40 pm
Quote from: beerbud1 on December 02, 2008, 07:21:36 pm
Apparently Pennsylvania was one of the 20 states they agreed to a settlement with. (NASAA)

Beerbud, ya got any factual evidence? Failing that, can you build on your conjecture? I'm a Pennsylvanian who's been on the 'quiet' that extra 30 days. Shure wood be news to hear good 'ole Harrisburg (state capitol) is actually doing something.
Haven't you seen the other thread about NASAA?

Yes, of course. Did I miss a link from a linked link where the states were enumerated?
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beerbud1

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Re: no more lenders from Pennsylvania
« Reply #29 on: December 02, 2008, 07:41:32 pm »
Quote from: Investar on December 02, 2008, 07:38:18 pm
Quote from: beerbud1 on December 02, 2008, 07:36:00 pm
Quote from: Investar on December 02, 2008, 07:33:40 pm
Quote from: beerbud1 on December 02, 2008, 07:21:36 pm
Apparently Pennsylvania was one of the 20 states they agreed to a settlement with. (NASAA)

Beerbud, ya got any factual evidence? Failing that, can you build on your conjecture? I'm a Pennsylvanian who's been on the 'quiet' that extra 30 days. Shure wood be news to hear good 'ole Harrisburg (state capitol) is actually doing something.
Haven't you seen the other thread about NASAA?

Yes, of course. Did I miss a link from a linked link where the states were enumerated?
No pure speculation and conjecture!
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