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Economy
In reply to the discussion: STOCK MARKET WATCH -- Thursday, 12 April 2012 [View all]Demeter
(85,373 posts)14. John Mack joins peer-to-peer lender
John Mack, the former chairman and chief executive of Morgan Stanley, has joined the board of a peer-to-peer lending company that aims to bypass banks and extend credit directly to borrowers. The Lending Club is one of a crop of new peer-to-peer companies, which seek to match lenders directly to borrowers. The club has originated $589m worth of loans since it began in 2006 with a Facebook-based lending platform
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http://link.ft.com/r/4RNQTT/VLK02R/WH2F8/SP0U3W/EXGX15/B7/t?a1=2012&a2=4&a3=12
IS THIS THE SHAPE OF THINGS TO COME? AFTER YESTERDAY'S ALUMNI LENDING PROGRAM....
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Four Ways the Big Banks are Still Screwing Homeowners — And How They're Fighting Back
Demeter
Apr 2012
#22