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Can Peer-To-Peer Finance Work?

Posted by ryuzaki0 on from the lawsuit-in-3-2-1 dept.

Dotnaught writes "Two companies, Prosper and Zopa, appear to be convinced that social networking can be combined with borrowing and lending. They're intent on using eBay as a model for listing and bidding on loans without the involvement of a bank. Call it peer-to-peer finance. There are already some 800 groups on Prosper ready to loan money to specific causes, such as the Apple User Group, 'a lending group for those wishing to purchase either a Macintosh or Apple iPod.'"

2 of 261 comments (clear)

  1. If only you can book those loans as revenue... by Anonymous Coward · · Score: 5, Funny
    that's how Enron worked.
    • CEO makes new subsidiary -
    • parent and subsidiary loan each other a couple billion - book them as revenue
    • profit
    • go to jail
  2. Re:I wouldn't want by foundme · · Score: 5, Funny

    I think this P2P Finance will only work if P2P Muscle is also implemented at the same time.

    Imagine if you can log on to BeatTorrent, hook up with a few peers living near your debtor, and get them to show your debtor some muscles.

    --
    Please stop entering code 2,2,7,6,6,4