Peer-To-Peer Lending Is Different In The US
I like peer-to-peer lending and have quite a large sum invested. But after reading this article in the Financial Times, I’m pretty certain that if I lived in the United States, I wouldn’t touch peer-to-peer lending with a bargepole.
The reason is that in the United States, institutional investors get first pick of the borrowers and are developing software, so that the retail investors gets what’s left.
In the UK, the Peer-To-Peer Finance Association has moved to ban this practice and make all investors equal.
The day they give preference to institutions, my money will be withdrawn gradually as it becomes available.
I think we all have to remember that one of the causes of the Financial Crash of a few years ago was greedy bankers, who felt they were a class above the vast majority of people, who have made their money by sheer dint of hard work.
Whatever you do, read the article in the FT. It’s a cracker!
And also look at the Peer-To-Peer Finance Association web site!
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The Anonymous Widower 
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