Collapse of P2P lending

[Contreras]

On a similar note - Crowd funding: is it worth the risk?

Our business correspondent Helia Ebrahimi reports ...

[northernladuk]

Boring. Someone read for me please and report back immediately.

Boo

Some bloke says..

losses in the peer-to-peer (P2P) lending industry will make Britain’s worst bankers look like geniuses.

Someone P2PFA points out that the blokes..

views ignored the industry’s record and that default rates on loans were low at 2%-3%.

I'm in the 'he's currently talking bullocks' camp but can see how as more people pile in some unscrupulous outfits will start to push those losses up at pace. That said its hardly going to implode overnight.

[Cirrus]

You Clearly Never Worked For Accenture

Boring. Someone read for me please and report back immediately.

Not so long ago my boss (formerly of Accenture) gave a 'Town Hall'. I dutifully took notes from his avalanche of powerpoints.

Afterwards, I asked him to explain some of the many things on his slides, as they potentially affected my patch.

He stared at me with semi-horror. How could I be so simple as to think the material was based on anything real or tangible?

So - don't bother about the content of such things. If it looks long and has big words then just assume it's pukka. Accenture make more money than we do...

[Boo]

What makes you think this?

This is a good question.

I'm naturally sceptical: how can young people give higher returns on loans? They don't know anything and besides that, they're young, dress too casually and have their vegetables delivered to their doors in little cardboard boxes.

And this is a good answer.

Former City regulator warns of potential peer-to-peer lending crisis | Money | The Guardian

Boring. Someone read for me please and report back immediately.

Boo

[Cirrus]

What makes you think this?

I'm naturally sceptical: how can young people give higher returns on loans? They don't know anything and besides that, they're young, dress too casually and have their vegetables delivered to their doors in little cardboard boxes.

Then:

Former City regulator warns of potential peer-to-peer lending crisis | Money | The Guardian

[northernladuk]

All I see is P2P lending which will end in one supermassive explosion and everybody wailing about how much they've lost. "You bailed me out of Icelandic banks; now bail me out of this, sob!"

What makes you think this?