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With bankers holding on to their limited capital for dear life, borrowers are increasingly looking to less-traditional sources for cash. The Washington Post reports Sunday that a leading source of loans these days has become other people, as peer-to-peer lending gains in popularity. The Post reports that about $282 million was given in peer-to-peer lending in 2006. By 2010, analysts expect that number to grow to $5.8 billion. “It offers a viable option for folks who are getting turned down for credit elsewhere,” one industry expert says.
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I loaned a few bucks through peer lender a few years ago that went to a woman who started a home-based laundry service. Before i did it, I talked to a few friends in finance who dismissed it (and legitimized it.) Honestly, I figured I'd only donate to charities from then on, but the loan's been paid back in full.
Obama and Congress stood by and did nothing when bankers paid themselves million-dollar quarterly bonuses with federal tax dollars.....and did nothing again when it happened again the next quarter.
Someone should explain to Obama that the whole purposes of the TARP bailouts was to get banks lending, not to pay million dollar bonuses to their execs.
Are we all just going to clamor about this line of assistance to our financial firms. It is quite evident that they are only helping themselves. They, "the Media" state that the recession is over. How is the recession over when there are still more than 5 million people collecting for unemployment?!
Someone should read in this week's New Yorker the article about last September and the near-implosion of the world economy.
Plant has no idea what he's talking about, nor is he teachable. Plant's obsessed with Obama. Plant has no interest in the facts or the truth.
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Right out of The Democat Party Playbook, along with Alinksy's Rules for Radicals. How do you think Obama got elected?
Ever notice on the Sunday Talk Shows on the State Run Media how all the Democrats use the exact same talking points? {Rules 1 and 5}
If the banks are not loaning out the billions in taxpayer money they had to have (cuz like dubay said "they were to big to fail"), then what have they done with the TARP money he threw at them?
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I don't know much about banks, but I am a democrat and lord knows I like my zombie commentators on TDB. Reading laugh , yes, that's the way I like it. Nothing like a good zombie-comment to perk one up of a Sunday morning.
They probably stole a lot of the money, sent it to Switzerland or somewhere. No one ever seems to check on what these people are doing, and they get away with anything.
laughorcry: Without government backing, all of the TARP recipients (including those who have paid it back) would be insolvent and go bankrupt. (They all still have all those poisonous real estate assets on their books - trillions of dollars of potential losses.)
I guess you are in favor of starting Great Depression II, aren't you?
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We do need a new type of banking system in this country, including a National Investment bank, funded by the Federal Reserve, more state-owned banks, cooperative banks owned by teh members, community and non-profit banks. This model we have right now of unregulated private banks owned by capitalists ahas failed, and even now many of them have gone back to playing Monopoly as if the crash never happened.
Bankers are not fighters ... they're wishy washy humans who will seek the point of least resistance. As a consequence, the American banking system will be destroyed because of the weak willed people in it, and those same weak people will end up destroying themselves.
GrannyRob: Yeah. These weak-willed bankers were consumed by a desire to make profits for their company and get outrageous bonuses, regardless of how badly their actions hurt ordinary Americans.
Sounds to me like they are just ordinary conservatives. Nothing new here...
But I do hope you conservatives continue down the road to destroying yourselves.
Banks loaning money to people.
What a concept?
Gee wiz, thought it was the other way round.
Oh, it is?
Oh, it is.
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loc - are you trying to make me choke on my coffee??
Mean old government squeezed the banks to lend to poor people...like that reeeealllllly happens. We know that the dim bulbs that are supposed to regulate these behemoths end up licking their heels while taking a lie down prostrate (face in the water) in worship mode. Give it a rest if you think that anyone believes WS, GS, AIG or any of these big players are victims.
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